16 Aug 2024 CMB International Global Markets | Equity Research | Company Update Goertek (002241 CH) Solid GPM recovery in 1H24; Poised to benefit from "AI+XR" trend in 2H24E Goertek's 1H24 revenue/ net profit growth of -11%/+190% YoY was largely inline with its earlier positive profit alert (net profit +180-200% YoY). 2Q24 revenue/net profit delivered +0.1%/+168% YoY, and GPM came in at 13.6% (+4.4 ppts QoQ/5.9 ppts YoY), mainly due to improving efficiency and better acoustics product/smart product profitab ...