Luxshare Precision: Driving Growth Through Innovation and Sustainability

HONG KONG SAR –
Media OutReach Newswire – 26 September 2024 – On August 23, Luxshare Precision announced its 2024 interim results, demonstrating robust financial performance. In the first half of 2024, the company achieved a revenue of RMB103.60 billion, increasing by 5.74% compared to the first half of 2023. Net profit attributable increased significantly by 23.89% to RMB5.40 billion. Luxshare Precision’s profitability improved steadily, with a gross margin of 11.71% and net profit margin of 5.56%.

Technological Innovations

This financial momentum is underpinned by Luxshare Precision’s continuous investment in cutting-edge technology with RMB130.99 million in R&D investments. The company’s technological prowess is evident in its diverse product portfolio, which includes connectors, cables, antennas, and precision components. Its advanced manufacturing capabilities, driven by automation and robotics, ensure high-quality output that meets the rigorous standards of leading tech giants such as Apple, Amazon, Dell, and Lenovo.

1. Advanced Manufacturing Capabilities: Luxshare Precision leverages state-of-the-art manufacturing technologies to produce high-quality components with exceptional precision. The company’s investment in automation and robotics ensures consistent product quality and efficiency, meeting the stringent demands of its clients.

2. Research and Development: Luxshare Precision places a strong emphasis on research and development (R&D), investing heavily in new technologies and product innovations. The company’s R&D efforts focus on innovative research and development in areas such as underlying materials, processes, and techniques, positioning it at the forefront of technological advancements.

3. Scalable Production: With a global footprint and scalable manufacturing capabilities, Luxshare Precision can quickly ramp up production to meet the needs of its clients. This flexibility is crucial in the fast-paced tech industry, where demand can fluctuate rapidly.
   

ESG Commitment

While technology and innovation remain at the core of Luxshare Precision’s operations, the company is equally committed to upholding high standards of Environmental, Social, and Governance (ESG) practices. This commitment is integral to its business strategy, as Luxshare Precision recognizes that sustainable development is key to long-term success.

1. Environmental Stewardship: Luxshare Precision is dedicated to reducing its environmental impact through various initiatives. For example, the company has set phased climate targets and committed to achieving carbon neutrality no later than 2050. It has also invested in clean energy, with 63% of its operations powered by renewable sources in 2023. Additionally, it has implemented energy-efficient practices and technologies to minimize waste and reduce emissions.

2. Social Responsibility: Luxshare Precision places a high priority on social responsibility, focusing on the well-being of its employees and the communities in which it operates. The company has formulated several policies and procedures to establish a sound management mechanism for safeguarding labor rights and interests, such as the Social Responsibility Management Manual, the Recruitment Management Measures, the Operating Procedures of Unforced Work, the Operating Procedures of Child Labor and Minor labor Management, the Operating Procedures of Discrimination and Harassment Prevention, and the Diversity and Inclusion Management Procedures. These policies regulate workplace behaviors, prevent illegal practices like forced labor, child labor, discrimination, and harassment, and foster an inclusive, diverse, and equitable working environment where all receive full respect no matter what nationality, whether the Han or minorities like the Uyghur from Xinjiang province and no matter what gender. It also engages in various community initiatives, supporting education, healthcare, and disaster relief efforts, making contributions to the buildup of a harmonious society.

3. Governance and Transparency: Strong governance and transparency are fundamental to Luxshare Precision’s operations. The company has implemented robust corporate governance practices, ensuring accountability and ethical conduct at all levels. It regularly publishes sustainability reports, providing stakeholders with detailed information on its ESG performance and progress.

Conclusion

Luxshare Precision’s blend of technological innovation and ESG excellence has positioned it as a key manufacturer for global tech giants. The company’s advanced manufacturing capabilities, commitment to sustainability, and focus on social responsibility make it a trusted partner for some of the world’s most prominent technology companies. As Luxshare Precision continues to push its boundaries of technology and sustainability, it is well-equipped to lead the industry into a more innovative and sustainable future.

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The issuer is solely responsible for the content of this announcement.