Auo Corp S/Adr New (AUOTY) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Senior Director of the IR Department. On behalf of the company, I would like to welcome you to participate in today's results conference. I'm joined by five executives. Our Chairman and Group's Chief Strategy Officer, Paul Peng. CEO and President, Frank Ke. Senior VP of the Disability Strategy Business Group, James Chen. BHTC Managing Director, Ben Zeng. and CFO David Zhang. The agenda of today's results conference is as follows. First of all, our CFO will go over our Q2 results. And Q3 guidance, then our chairman and CEO will share the company's transformation strategy and outlook. Then we will proceed to questions and answers. We have collected questions before the meeting. We will address those questions for the first part of the Q&A session. Then we will open the line for you to raise more questions. Now, before I hand over to our CFO, I would like to remind you that all forward-looking statements contain risks and uncertainties. Please spend some time to read the safe harbor notice on slide number two. David, please. Good afternoon. I would like to go over our Q2 2024 financial results. In Q2, our net sales came in at $74.3 billion, up by 25% QQ. We have consolidated BHTC with inclusion of BHTC revenue. Our display business benefited from steady growth in consumer electronics demand, notebook and monitor shipment growth, and increases in TV and monitor panels, leading to an increase in our display business revenue. Moreover, our automotive and vertical business also posted steady growth. In terms of profitability, gross profit, thanks to our hard-to-make improvements, higher utility rates, and favorable forest rates, our gross margin increased by nearly 8 percentage points to 11.2%. Gross profit also increased to $8.36 billion. We also returned to black at the o...