Core Source Micro (688037) released the 2021 annual performance report on the evening of February 22. During the reporting period, the total operating income was 829 million yuan, a year-on-year increase of 151.95%; the total profit was 75.7727 million yuan, a year-on-year increase of 43.45%; net profit was 7719.18 RMB 63.6813 million, a year-on-year increase of 58.09%; non-net profit deducted was RMB 63.6813 million, a year-on-year increase of 394.61%.
Xinyuan Micro is the first company listed on the Science and Technology Innovation Board in Liaoning Province, and was officially listed on December 16, 2019. The industry of Xinyuan Micro is the semiconductor special equipment industry, which is the upstream core link of the semiconductor industry chain. It is mainly engaged in the research and development, production and sales of semiconductor special equipment. Available for 8/12-inch single-wafer processing and 6-inch and smaller single-wafer processing.
According to public information, the glue developing equipment and monolithic wet process equipment produced by Xinyuan Microelectronics have expanded from the field of advanced packaging and LED to the fields of MEMS, compounds, power devices, special processes, etc., and are used as mainstream models in TSMC. , Changdian Technology, Huatian Technology, Tongfu Microelectronics, Jingfang Technology, Huacan Optoelectronics, Ganzhao Optoelectronics, Aoyang Shunchang, SMIC Shaoxing, SMIC Ningbo and other domestic first-line manufacturers.
Benefiting from the continuous improvement in the prosperity of the semiconductor industry, the operating performance of Xinyuan Micro has continued to improve in the past two years. In 2020, the net profit of Core Source Micro will increase by 66.79% year-on-year; according to the latest performance report, the net profit in 2021 will increase by 58.09% year-on-year.
As for the reasons for the growth in performance in 2021, Xinyuanwei stated in the performance bulletin that during the reporting period, the semiconductor industry continued to improve, and the company actively seized market opportunities and increased market development efforts. While the company maintains a steady growth in product revenue in the field of small size (such as LED, compound semiconductor, etc.) and advanced packaging of integrated circuits, the revenue of products in the field of front-end wafer processing of integrated circuits has also achieved rapid growth, and the company’s profits have continued to grow.
In recent years, with the rapid development of global informatization, networking and knowledge economy and the continuous expansion of downstream applications of semiconductors, the global integrated circuit industry has developed vigorously, the prosperity has continued to improve, and global semiconductor sales have maintained steady growth. According to SEMI statistics, the equipment spending of integrated circuit manufacturing plants will increase by about 39% in 2021. Thanks to this, many companies in the semiconductor industry, including Core Source Micro, have benefited from it.
For example, Shengong Co., Ltd., which is located in Liaoning Province with Xinyuan Micro, is mainly engaged in the research and development, production and sales of monocrystalline silicon materials, silicon components, semiconductor-grade large-scale silicon wafers and their application products. Shengong previously estimated that the net profit in 2021 would be 210 million to 230 million yuan, a year-on-year increase of 109.42% to 129.37%. Shengong Co., Ltd. stated in its performance forecast that the company’s order demand for large-diameter monocrystalline silicon materials for etching machines has increased significantly, and its operating income has achieved a substantial increase over the same period of the previous year.
It is worth mentioning that, according to the previous announcement of Xinyuan Micro, the company plans to increase no more than 1 billion yuan, which will be used for Shanghai Lingang R&D and industrialization projects, high-end wafer processing equipment industrialization projects (Phase II) and supplementary working capital. Wait. The purpose of this fixed increase is to better improve the company’s product structure, achieve further breakthroughs in the research and development and industrialization of advanced process equipment, and further enhance the independent controllability of my country’s industrial chain. At the same time, improve the supply capacity of existing mass-produced semiconductor equipment to meet the diversified customization needs of downstream customers.
On February 7, Core Source Micro disclosed a number of announcements, including the “Implementation Letter Reply to the Feedback on the Registration Link of Issuance of Shares to Specific Objects”.
In the secondary market, Xinyuan Micro has been declining since the beginning of this year, and so far, the cumulative decline has reached 20%. As of the close of trading on February 22, Xinyuan Micro reported at 135 yuan, up 1.62 yuan, or 1.21%.