USISH(601231)2024-07-24 07:33Revenue and Profit - Total operating revenue for the first half of 2024 reached RMB 27.39 billion, a year-on-year increase of 1.94%[2][5] - Net profit attributable to shareholders of the listed company was RMB 784.40 million, up 2.23% year-on-year[2] - Non-recurring gains and losses amounted to RMB 183 million, a significant increase from RMB 73 million in the same period last year[8] Product Performance - Cloud and storage product revenue increased by 38.96% year-on-year, while automotive electronics product revenue grew by 37.24%[4][5] Financial Position - Total assets decreased by 3.44% to RMB 37.95 billion compared to the beginning of the reporting period[2] - Cash conversion cycle improved by 17 days, reducing to 48 days[2] Expenses - Total expenses increased by 25.00% to RMB 2.00 billion, with financial expenses surging 269.06% due to foreign exchange losses[7] - R&D expenses grew by 8.21% to RMB 670 million, driven by the consolidation of Hirschmann Car Communication's financial statements[7] Future Outlook - The company expects Q3 2024 revenue growth to exceed the sequential growth rate of the same period last year[9] - Operating profit margin for Q3 2024 is projected to be close to the average level of the second half of 2023[9]