Times Electric's revenue and net profit both increased in the first half of 2024

Zhuzhou CRRC Times Electric Co., Ltd. recently released its 2024 semi-annual report. The report shows that the company achieved operating income of 10.284 billion yuan in the first half of 2024, a year-on-year increase of 19.99%, and net profit attributable to shareholders of listed companies was 1.507 billion yuan, a year-on-year increase of 30.56%. Among them, power semiconductor devices, as an important source of income for emerging equipment, achieved revenue of 1.747 billion yuan in the first half of the year, a year-on-year increase of 26.63%. During the reporting period, in terms of the power semiconductor business, Times Electric's production lines have been fully loaded, and the Yixing Phase 3 project has been steadily advancing. It is expected to be put into production in the second half of 2024, and the production capacity of medium and low voltage devices will continue to increase.