On December 4, according to the Star Daily (Reporter Wu Xuguang), Jing Sheng Co., Ltd. held a third-quarter earnings conference today (December 4).

"According to market feedback, the photovoltaic industry is expected to show signs of reversal in the first quarter of 2025." Independent director Li Xiaomin stated this at the earnings conference.

Jing Sheng Co., Ltd. is a manufacturer of semiconductor crystal material growth equipment in china. The company's crystal growth equipment is its largest source of revenue, and its growth equipment is primarily used in downstream industries such as semiconductors and photovoltaics.

Due to the adjustment in the photovoltaic industry affecting some of the company's products, Jing Sheng Co., Ltd. experienced a significant decline in net income in the third quarter.

According to the third-quarter report for 2024 released by Jing Sheng Co., Ltd., in the third quarter of 2024, the company's single-quarter main revenue was 0.127 billion yuan, an increase of 0.97% year-on-year; the single-quarter net income attributable to shareholders was 19.3771 million yuan, a decrease of 31.57% year-on-year; the single-quarter net income after deduction was 8.6112 million yuan, a decrease of 53.89% year-on-year.

At the earnings conference, Li Hui, chairman and general manager of Jing Sheng Co., Ltd., expressed that the company currently faces challenges and an external competitive environment, indicating that the industry is facing an overall surplus in mature process capacity and intense homogeneous competition, while advanced processes require further technological innovation and breakthroughs.

In response to the market demand shrinkage caused by oversupply in the photovoltaic industry, Wu Chunsheng, director, board secretary, and financial head, indicated that the company has launched a more efficient automated control system to enhance output and efficiency at a lower cost by retrofitting existing customer equipment, thereby helping customers improve their competitiveness.

"In order to help photovoltaic customers through the industry's adjustment cycle, we have reached a consensus with customers on future shipments and payments," stated the company.

In addition to its layout in the photovoltaic industry, the company primarily produces 8-inch and 12-inch semiconductor-grade single crystal silicon furnaces in the silicon semiconductor field, with clients including shanghai xinsheng, jinruihong, and thinkon semiconductor jinzhou corp among the leading domestic silicon wafer manufacturers.

In terms of the progress of semiconductor silicon single crystal equipment, Li Hui introduced that the company has made breakthroughs in the development of polished wafers below 28nm, with a control system featuring locked pulling speed verified on the client side, which can improve yield and consistency between furnace runs. Meanwhile, the company has launched an ultra-low oxygen overall solution in the market, with silicon rod oxygen content controllable below 5 ppm.

It is worth mentioning that recently, the usa added new restrictions to the semiconductor entity list, which includes clients and shareholders such as shanghai xinsheng semiconductor. An investor asked, "Will this event have an impact on the company?"

The company responded, "We believe that catalyzed by this event, through the concerted efforts of industry peers, the china semiconductor industry can seize opportunities amidst challenges and actively pursue technical innovation and breakthroughs, further accelerating the localization process of the entire industry chain."

Looking ahead to the full-year performance in 2024 and market growth points in 2025, Li Hui stated that the company will strive to achieve sustained performance growth by reducing costs and increasing efficiency to offset the downward price pressure from the market. With the introduction of new products and the warming of the industry, the company is expected to achieve business growth in new semiconductor products, 8-inch silicon carbide crystal growth equipment, and automation system upgrades.

"Currently, the company's 8-inch silicon carbide crystal growth equipment has been delivered to the market, and it will continue to bring revenue contributions to the company in the future," Wu Chunsheng added.

Regarding the company's development plans, Li Hui stated that the company will continue to focus on its main business, actively invest in research and development, and expand its product line, moving from localized substitution to proactive innovation.