Event: the company released its semi-annual report, with an operating income of 820.0644 million yuan, an increase of 19.11% over the same period last year, and a net profit of 50.3522 million yuan belonging to shareholders of listed companies, an increase of 47.28% over the same period last year.
Three fees to reduce and improve profit margins. The profit growth rate is higher than the revenue growth rate, which stems from the effective reduction of the three fees in the first half of the year, thus raising the net profit margin from 4.95 per cent to 6.19 per cent with a slight drop in gross profit margin (22.72 per cent → 20.97 per cent). If you look at Q2 alone, the revenue end has increased by 26% compared with the same period last year, and has set a record for Q2, indicating that the company is in good sales condition.
Technological progress has been marked and new areas have been expanded smoothly. In mastering the core design and manufacturing technology of many high-end power semiconductor devices, the company gradually has the ability to provide customers with overall solutions. In the first half of the year, the company made every effort to promote the construction of five product series platforms, such as SCR, IGBT, Trench MOS, overjunction MOS and Trench SBD, and the product performance level continued to improve. Among them, the chip current of 650V~1200V Trench-FS IGBT platform has reached 200A, and the product has been verified by customers. At the same time, the company is actively expanding in new energy vehicles, frequency conversion appliances, photovoltaic and other emerging fields to achieve the desired results.
The rights issue was approved, and the eight-inch project was steadily advanced. In the first half of the year, the company raised 1 billion yuan to invest in the construction of the 8-inch project, and the plan has been approved. After the completion of the project, it will become the first 8-inch production line with power semiconductor chip manufacturing in the field of new energy as the core and the largest 8-inch production line, forming an 8-inch chip manufacturing capacity of 240,000 chips per year, focusing on IGBT, MOSFET and other core devices, which will effectively enhance the company's competitiveness in power semiconductors and ensure the production capacity needed for future growth.
Power semiconductors continue to be booming, and the company is expected to benefit as a leader. In recent years, the market demand for new energy vehicles, frequency conversion household appliances and military products has broken out in the lower reaches. Coupled with the insufficient supply of tourist energy, there has been a trend of rising prices and shortages in the field of power devices, which cannot be alleviated in the short term. As the leading enterprise of semiconductor power devices in China, the company will benefit from this industry opportunity, on the one hand, to expand the application field of its own products, and on the other hand, to become the primary undertaker of import substitution. There is great potential for the future.
Risk hint. The demand of power semiconductor industry is lower than expected; customer introduction is not as expected.