ZJK Industrial Co., Ltd. Announces Financial Results for Fiscal Year 2024

Core Insights - ZJK Industrial Co., Ltd. reported a strong financial performance for fiscal year 2024, with a revenue increase of 30.13% driven by robust sales volume growth across all product segments, particularly in AI-related projects [2][6][8]. Financial Performance - Total revenues reached US$37.81 million in fiscal year 2024, up from US$29.05 million in fiscal year 2023, primarily due to a 27.58% increase in sales volume [6][8]. - Gross profit increased by 23.09% to US$13.57 million, although gross margin slightly declined to 35.88$3.66 million, a decrease of 52.37% from US$7.69 million in fiscal year 2023, with basic and diluted earnings per share at US$0.06 compared to US$0.13 in the previous year [8][13][14]. Cost Structure - Cost of revenue rose by 34.43$24.24 million, mainly due to increased sales volume [9]. - Total operating expenses surged to US$11.93 million, up from US$4.74 million in fiscal year 2023, driven by significant increases in selling and marketing expenses (169.08%) and general and administrative expenses (164.88%) [12][16]. Product Segment Performance - Sales volume for screws increased by 32.17%, while turned parts saw a 7.35% increase in sales volume and a 15.69% rise in average sales price [7]. - Stamping parts experienced a notable sales volume increase of 50.62% and a 99.07% rise in average sales price, largely attributed to the addition of AI-related projects [7]. Investment and Development - The company increased its R&D investment by 20.36% to support technological innovation and business growth [3][16]. - New products and advanced technologies were showcased at NVIDIA's GPU Technology Conference in March 2025, highlighting the company's commitment to innovation [4]. Financial Condition - As of December 31, 2024, cash and cash equivalents stood at US$12.26 million, a significant increase from US$2.83 million at the end of 2023 [15]. - Net cash provided by operating activities was US$5.34 million, up from US$4.12 million in fiscal year 2023 [15][17]. Recent Developments - The company completed its initial public offering on October 1, 2024, raising gross proceeds of US$6.91 million [18].