Huace Navigation's first-half performance is expected to increase, with net profit attributable to parent reaching 243-254 million yuan

Huace Navigation released its 2024 semi-annual performance forecast, and it is expected that the net profit attributable to the parent company will reach 243-254 million yuan, a year-on-year increase of 38.27%-43.96%. The net profit attributable to the parent company after deducting non-recurring gains and losses is 202-212 million yuan, a year-on-year increase of 28.87%-35.25%. Although the non-recurring income was 41 million yuan during the reporting period, the company's net profit after deducting non-recurring gains still achieved an increase of 28.9%-35.25%. Huace Navigation's overseas revenue achieved a compound annual growth rate (CAGR) of 53% between 2020 and 2023, while the growth of industry leader Trimble was only in the single digits. This data shows that Huace Navigation's competitiveness in the global market is constantly increasing.