Gelonghui, April 11 | Tianyue Advanced (688234.SH) disclosed the 2023 annual report. In 2023, the company achieved total operating income of 1256.957 million yuan, an increase of 199.90% over the same period of the previous year; operating income after deducting business income unrelated to the main business and income without commercial substance was 1254.555 million yuan, an increase of 199.92% over the same period of the previous year; basic earnings per share after deducting basic earnings per share, diluted earnings per share, and basic earnings per share after deducting non-recurring profit and loss increased compared to the previous period; achieved net profit attributable to owners of the parent company- At 45.7205 million, net profit attributable to the owner of the parent company after deducting non-recurring profit and loss of $112.70,800 was achieved, which is narrower than the loss for the same period last year.

In 2023, applications in downstream applications such as new energy vehicles, photovoltaic power generation, and energy storage will penetrate, and the overall market size of silicon carbide semiconductors will continue to expand.

During the reporting period, the company's business strategy achieved good results in stages, driving the company's revenue growth in 2023. The company's high-quality silicon carbide substrates have been recognized by domestic and foreign customers. The company's customer base continues to grow, and it has carried out extensive cooperation with well-known domestic and foreign companies in the downstream power electronics and automotive electronics fields. The company's smart factory in Lingang, Shanghai will start product delivery in mid-2023, laying the foundation for the company's long-term increase in production capacity and output. The company continues to increase investment in technology to speed up the planning and layout of new products such as large sizes.

Overall, 2023 benefited from a continuous increase in the company's production capacity and output of conductive products, increased product delivery capacity, increased operating income compared to the same period last year, increased product gross margin, and net profit attributable to shareholders of listed companies and net profit after deducting non-recurring profits and losses narrowed year-on-year losses.