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Holtek Expects Continued Decline in Chinese Market, Anticipates Two-Quarter Inventory Correction

h 6202.TW Mid and Small Cap 2000
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Microcontroller manufacturer Holtek announced in a recent press conference that it anticipates a continued decline in the Chinese market. Operations in the fourth quarter are projected to decrease compared to the previous quarter, primarily due to persistently high agent inventories. The correction of inventory levels may extend over two quarters. Additionally, film production is expected to experience a significant 40% quarter-on-quarter decline in the fourth quarter. Holtek predicts that the first quarter of the following year will mark the nadir of the overall L-shaped market. In the third quarter, Holtek’s revenue was 631 million yuan, indicating a quarterly decrease of 11.8% and an annual decline of 53%. The single-quarter gross profit margin was 51.87%, reflecting a quarterly drop of 2.47 percentage points. Net profit after tax was 36.51 million yuan, a quarterly decrease of 34.9% and an annual decrease of 84%. The after-tax earnings per share were 0.16 yuan. For the cumulative after-tax earnings in the first three quarters, the figures totaled 129 million yuan, signifying a year-on-year decrease of 88.1%. The after-tax earnings per share were 0.57 yuan.

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