“Science and Technology Innovation Board Daily”, April 24 (Reporter Wu Xuguang) On the evening of April 23, Jingyi Equipment released its annual performance report. The company's 2023 revenue was about 742 million yuan, up 11.84% year on year; realized net profit of about 119 million yuan, an increase of 30.75% year on year; realized net profit after deduction of 86.936 million yuan, an increase of 5.70% year on year.

Regarding the reason for the change in revenue, Jingyi Equipment said that it mainly benefited from strong demand in the semiconductor equipment market and the competitive advantage of the company's products, and revenue continued to grow; the company achieved results in developing new customers, developed several new customers, and increased overall revenue.

On the evening of April 23, Jingyi Equipment also revealed its 2024 quarterly report. In the first quarter of 2024, the company achieved total revenue of 219 million yuan, a year-on-year increase of 20.98%; realized net profit of 2.80428 million yuan, a year-on-year increase of 16.02%; realized net profit after deduction of 19837,600 yuan, a year-on-year decrease of 10.90%.

In light of the company's poor performance in 2024, the “Science and Technology Innovation Board Daily” reporter called the company's securities department. Its staff said that since the first quarter of this year, the company's orders and project acceptance conditions have all been normal. As for the exact order situation in the first quarter of this year compared to the same period last year, whether there was an increase and the customer order situation in the second quarter, it is not convenient to disclose for the time being. The details are subject to subsequent disclosure by the company.

Jingyi Equipment is a high-end equipment manufacturer integrating R&D, production and sales. Its main products include semiconductor thermostatic control device series (Chiller), robot series (Wafersorter/AMR), exhaust gas treatment device series (LocalScrubber) and other special equipment, which are used in semiconductor, LED, LCD and other fields.

According to industry analysts, the cyclical nature of semiconductor equipment in which Jingyi Equipment is located is closely related to the pace of production expansion in downstream fabs. The expansion of downstream fab production boosts the boom in the equipment materials sector. If the growth rate of downstream production expansion slows down, it will adversely affect upstream companies.

Furthermore, the “Science and Technology Innovation Board Daily” reporter noticed that in the first quarter of 2024, the company's gross margin was 35.03%, down 5.72 percentage points from the previous year; the net interest rate was 12.80%, down 0.55 percentage points from the same period last year.

Some market analysts said that the decline in the gross margin of the company's special temperature control equipment for semiconductors may be related to changes in the company's customer structure and fluctuations in the unit cost of raw materials such as fluorinated liquid.

Looking ahead to the full year of 2024, Jiang Gaozhen, chief electronics analyst at Zheshang Securities, said that global semiconductor equipment is expected to enter a new upward cycle brought about by the technological revolution, and domestic semiconductor equipment is also expected to enjoy dividends thanks to the continuous expansion of production by local fabs.

According to SEMI data, global fab capacity utilization and equipment expenditure are at a low point in 2023. Global fab equipment spending is expected to rebound 15% year on year in 2024, which is expected to drive a 4.37% year-on-year increase in global semiconductor equipment sales in 2024.

Meanwhile, on the evening of April 23, Jingyi Equipment issued an announcement stating that the company's 2023 equity distribution plan: based on a total share capital of 168.0 million shares, a cash dividend of RMB 0.75 million will be distributed to all shareholders for every 10 shares, for a total cash dividend of 126.0 million yuan. No bonus shares will be sent, and there will be no capital stock transfer to increase share capital.