Auo Corp S/Adr New (AUOTY) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'm Jerry Su, a USIR senior director. On behalf of the company, I would like to welcome you to participate in our fourth quarter financial results conference. I'm joined by four executives. Paul Pong, our chairman and group chief strategy officer. Frank Ke, our CEO and president. James Trim. Senior VP of the Display Strategy Business Group. And our CFO, David Zhang. The agenda for today's conference is this. First of all, CFO will go over our 2024 fourth quarter financial results. Our chairman and CEO will then talk about our business updates and provide you with our visions. then we will proceed with questions and answers. We have collected questions before the meeting and will address these questions in the first part of the Q&A session. After that, if there are still more questions, we will take questions from the floor. So that was the agenda for today. Now, before I hand over to CFO, please allow me to remind you that all forward-looking statements contain risks and uncertainties. Please spend some time to read the safe upper notice on slide number two. David, please. Good afternoon. I would like to go over AUO's 2024 fourth quarter financial results. Our net sales came in at $68.7 billion, down by 12% QQ. As polling activity for displays subsided and consumer products demand lessened, leading to decreases in shipments and revenues. Mobility solution was affected by the weaker demand in markets except in China and delayed purchases by customers, resulting in decreased shipment. Meanwhile, China's car market benefited from policy stimulus and stronger overseas sales, leading to increased shipment, helping to partially offset the drop in revenue. Vertical solution. Due to early procurement's lower market demand and less than expected solar PV module demand, our ve...