Montage Tech net profit surges over 200% in 2024

Montage Technology (SSE:688008) announced a preliminary 2024 revenue of RMB 3.64 billion, a 59.20% increase year-over-year. Net profit attributable to shareholders soared by 213.10% to RMB 1.41 billion. The surge was fueled by recovering demand for memory interface chips, increasing adoption of DDR5, and the strong performance of new AI-related chips. Sales of the company's interconnect chips reached RMB 3.35 billion, a 53.31% increase, while JinDai® server platform product sales increased by 198.87% to RMB 280 million. The company's fourth-quarter performance was particularly strong, with revenue up 40.43% year-over-year and net profit up nearly 100% compared to Q4 2023.