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Xingsen Technology's net profit increased by over 40% last year

Xingsen Technology's net profit increased by over 40% last year

  • Categories:Industry News
  • Author:
  • Origin:Changjiang Commercial Daily
  • Time of issue:2020-02-28 15:33

Xingsen Technology's net profit increased by over 40% last year

  • Categories:Industry News
  • Author:
  • Origin:Changjiang Commercial Daily
  • Time of issue:2020-02-28 15:33
  • Views:0
Xingsen Technology, a domestic leader in small batches of printed circuit boards, issued a performance report on February 24. Due to the improvement in the operating conditions of many subsidiaries, Xingsen Technology has achieved good results.
 
The performance report shows that from January to December 2019, Xingsen Technology achieved operating income of 3.792 billion yuan, an increase of 9.19% year-on-year, and the average operating income growth rate of the semiconductor and component industry was 8.87%; the net profit attributable to shareholders of listed companies was 303 million yuan , An increase of 41.09% year-on-year. Xingsen Technology said that sales revenue maintained steady growth, mainly from semiconductor test board business, IC packaging substrate business and SMT business revenue growth.
 
Cost reduction and efficiency improvement measures
 
For the main reason for profit growth, Xingsen Technology said that first of all, the operating conditions of subsidiaries such as Harbor in the United States, Yixing Silicon Valley, and Exception in the United Kingdom have further improved; secondly, the income of the subsidiary Shanghai Zefeng has achieved substantial growth and profitability has increased; in addition, The cost reduction and efficiency improvement measures implemented by the company showed that the cost rate has decreased and the profitability has improved.
 
It is worth mentioning that on the same day, Xingsen Technology announced that the joint venture "Guangzhou Xingke Semiconductor Co., Ltd." obtained the "Business License" issued by the Guangzhou Huangpu District Market Supervision Bureau and completed the industrial and commercial registration procedures. The business scope includes integrated circuit packaging product design, class carrier board, high-density interconnect laminate design, etc. The joint venture company is jointly established by Xingsen Technology, Science City Group, National Integrated Circuit Industry Investment Fund, and Xingsen Zhongcheng and will build semiconductor packaging industry projects.
 
Shortcomings in production capacity have been effectively improved
 
As the largest manufacturer of printed circuit board small batch board express parts in China, Xingsen Technology has been committed to serving high-tech electronic enterprises and scientific research units at home and abroad. In recent years, the focus of Xingsen's business has gradually shifted from the PCB model leader to the IC carrier board, and further to become the leader of domestic IC carrier boards.
 
In June 2019, Xingsen Technology and the Guangzhou Economic and Technological Development Zone Management Committee signed the "About Xingsen Technology Semiconductor Packaging Industry Project Investment Cooperation Agreement." The main content of the project investment is a semiconductor IC package carrier board and similar carrier board technology project. The total investment is about 3 billion yuan, the first phase investment is about 1.6 billion yuan, of which fixed asset investment is 1.35 billion yuan; the second phase investment is about 1.4 billion yuan, of which fixed Asset investment is 1.2 billion yuan.
 
On October 11, 2019, Xingsen Technology issued an announcement saying that the two sides and the IC Industry Investment Fund Co., Ltd. have reached consensus on the main contents of the cooperation clause. After the two parties sign a formal agreement, the three parties will jointly fund the establishment of a chip packaging substrate project company.
 
 
(Source: Changjiang Commercial Daily)
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