As of the interim announcement date, the company has an unrecognized income order reserve of 0.469 billion HKD. At the same time, the company is actively expanding the market to obtain more new orders and maintain a good business development trend. Recently, productive tech (00650.HK) released its interim performance announcement for the 2024 fiscal year, introducing the solid results the company has achieved in equipment sales and R&D. The important technology localization for semiconductor single-wafer cleaning equipment has completed process testing recognized by customers; ALD-SiN process equipment has been assembled and achieved industry-standard test results; additionally, the company has completed a comprehensive upgrade iteration of the solar cleaning equipment, which has already matured into mass production, based on market demand.

In the interim performance announcement for the 2024 fiscal year, productive tech stated that the company provides excellent technical performance and high productivity semiconductor cleaning and LPCVD equipment to customers in the semiconductor industry. It has served over ten semiconductor manufacturers, and multiple pieces of equipment have completed final acceptance by customers. The company has also received repeat orders from semiconductor wafer factories. Furthermore, the semiconductor equipment business of productive tech has achieved significant growth in new orders and equipment delivery. By the end of the first half of the fiscal year, the company’s unrecognized income from semiconductor equipment orders reached 0.205 billion HKD, a year-on-year increase of 30%. Notably, 80% of these orders are for semiconductor equipment used in 12-inch wafer processes; among these orders, those successfully delivered to clients but not yet recognized in revenue amount to 0.138 billion HKD, a year-on-year increase of 50%, with 92% being 12-inch semiconductor equipment. The ample order acceptance channel provides strong assurance for the company's future performance release.

It is reported that the core management team of productive tech is led by Dr. Liu Erzhuang, a well-known entrepreneur in the semiconductor equipment industry and former global vice president and general manager of LAM Research for the China region. The core technical team also includes world-class experts in semiconductor cleaning technology and many domestic senior experts, all having an average of over 20 years of experience in the field of semiconductor cleaning and etching equipment.

Due to the increasingly far-reaching influence of geopolitics on the semiconductor equipment industry, domestic alternatives for equipment have rapidly developed. However, the currently domestically produced semiconductor equipment still concentrates on mid- to low-end segmented applications, and overcoming challenges in the domestic high-end semiconductor equipment arena is imperative. Currently, productive tech has achieved stable mass production of equipment in the mature process field and is developing domestic products with differentiated technology and high productivity in important technology fields dominated by international manufacturers. The company has invested 33% of its revenue during the reporting period in R&D expenses, successfully completing the main R&D tasks for semiconductor cleaning and LPCVD equipment and completing upgrades and iterations for existing equipment.

In terms of semiconductor single-wafer cleaning equipment, the CUBE/QUADRA equipment platform covers the cleaning of the back side of 6-12 inch wafers. With industry-leading Bernoulli transport, wafer edge control technology, and higher productivity, it is gradually expanding the replacement of products from international equipment manufacturers. During the reporting period, it has served seven different customers, continuously completing final acceptance of the equipment, and has received repeat orders from customers. The OCTOPUS equipment platform applied to 12-inch wafer mass production lines has successfully transitioned from a demo contract to a formal order and is about to complete acceptance. In addition, significant progress has been made in the major cleaning technology that is completely monopolized by international manufacturers, achieving process testing recognized by customers and significantly advancing the independent controllability of this technology.

At the same time, the PARALLELO equipment platform used for the 12-inch wafer槽式 cleaning process is expected to complete the delivery of its first equipment in the 2024 fiscal year. In terms of LPCVD equipment applied to critical thin film deposition processes for 12-inch wafers, the company has completed the R&D for three types of process equipment, among which ALD-SiN equipment has been assembled and achieved industry-standard test results. Additionally, LP-SiN process equipment is about to complete assembly.

In addition to the solid advancement in the semiconductor equipment business, the company's solar cells equipment business comes from acquiring the mature operations of the well-known German company RENA in china. Despite the photovoltaic industry facing cyclical fluctuations, productive tech has comprehensively upgraded and iterated on the solar cleaning equipment according to market demand, meeting customer needs for a wider range of technology routes and specifications of silicon wafer equipment. The company stated it will continue to implement a global strategy for major clients, controlling business risks by focusing on quality orders, and steadily advancing the execution of new orders and equipment payments.

Given the continuously advancing mass production achievements in the semiconductor equipment business and significant breakthroughs in the development of important domestic technologies, productive tech has also released positive signals regarding its future profitability, "It is expected that with the completion of R&D projects and a rich order reserve, the company is likely to achieve better profit performance. The company is continuously moving towards higher goals in terms of ongoing technological innovation and market expansion," concluded the company's interim performance announcement.