JBL Latest Report

Key Financial Data

1. JBL's operating revenue totaled Rmb6.994bn as of November 30, 2024, down 16.64% YoY, reflecting significant challenges in market sales.

2. The company expects its revenue and profit for fiscal 2024 to be lower than expected, mainly due to the slowdown in 5G, renewable energy, and digital printing market demand, with a total revenue of USD28.5bn, down from the previous USD31bn.

3. The EMS segment's revenue decreased by 18%, indicating a trend of weak overall market demand, especially a decrease in revenue from existing customers in 5G, wireless, and cloud businesses.

Peer Comparison

1. Overall industry analysis: The overall electronic manufacturing industry has experienced fluctuations, with many companies facing similar revenue decline trends, mainly affected by factors such as the global economic slowdown, supply chain disruptions, and rising raw material costs.

2. Peer evaluation analysis: JBL's operating revenue decline was significant, possibly indicating weaker competitiveness in the market compared to other peer companies, and JBL needs to reassess its market strategy and product portfolio to restore growth.

Summary

JBL's operating revenue in 2024 has significantly declined, mainly affected by factors such as weak market demand, intensified competition, and changes in product demand. The overall industry also faces similar challenges, indicating the pressure of the economic environment on the electronic manufacturing industry.

Opportunities

1. With the recovery of the consumer electronics market, JBL may achieve growth in the tablet and smartphone sectors.

2. The company's layout in AI servers and power management solutions may provide new market opportunities.

3. By strengthening the establishment of long-term customer relationships and product diversification, JBL has the potential to enhance its competitiveness.

Risks

1. Intensified market competition may continue to erode JBL's market share, leading to further revenue decline.

2. Uncertainty in the global economy may affect the overall demand for the electronic manufacturing industry, in turn affecting JBL's performance.

3. Failure to launch new products in a timely manner or low market acceptance may affect the company's sales performance.