Shenzhen V-STAR Industry & Trade Co.,LTD.--Professional Supplier of LAUFFER Lamination System
Technical Breakthrough in High-end Products of SCC Packaging Substrate
2023-08-30 14:38
Source: PCBworld
On August 24, Shennan Circuit released its semi-annual report for 2023, stating that during the reporting period, the company achieved total operating income of 6.034 billion yuan, a year-on-year decrease of 13.45; net profit attributable to shareholders of listed companies was 0.474 billion yuan, a year-on-year decrease of 37.02.
As for the reasons for the change in performance, Shennan's circuit said that it was mainly due to the downward year-on-year market demand in the downstream of the company's PCB and packaging substrate business, superimposed on the company's new project construction, new factory capacity climbing and other factors. In the first half of the operating pressure background, the company firmly and orderly promote research and development work, packaging substrate high-end products in the field of technological breakthroughs.
Printed circuit board business demand under pressure, focus on expanding customers
During the reporting period, the PCB business continued to improve its operational capabilities. The company to win orders and implement delivery as the starting point, to carry out project research, improve the process and platform operation capacity, to meet the business development of the higher requirements of internal management. The company's printed circuit board business achieved main business income of 3.882 billion billion yuan, a year-on-year decrease of 12.43, accounting for 64.33 of the company's total operating income; gross profit margin was 25.85, a year-on-year decrease of 1.49 percentage points.
In the first half of 2023, the size of orders in the company's communications sector decreased slightly year-on-year. The company actively responds to the challenges brought by the market environment. With industry-leading technology and efficient and high-quality services, the company has achieved a steady increase in order share among the existing customer base. At the same time, the company has increased its efforts to promote the development of new customers.
Overall orders in the Shennan Circuit Data Center sector decreased year-on-year in the first half of the year, and the company's AI server-related PCB products currently account for a relatively low share of revenue contribution. In addition, the company actively grasped the growth opportunities brought by the direction of new energy and ADAS, and related orders increased by nearly 40% year-on-year. On the one hand, the company's early introduction of new customer fixed-point project demand gradually released, on the other hand, the company's deep development of existing customer projects to contribute incremental orders. Automotive electronics professional PCB factory Nantong phase III capacity climbing work steadily, for the company's automotive electronics orders to provide capacity support.
In the second half of 2023, the company's PCB business will continue to focus on expanding customers, actively seize the opportunities brought about by the gradual switching of the Eagle Stream platform in the data center field, and strive for new fixed-point projects for key automotive electronics customers. At the same time, the company will promote quality management and cost management capabilities, strengthen PCB business technology and cost competitiveness.
Packaging substrate business to maintain strategic strength, continue to promote the high-end market layout.
Shennan's circuit packaging substrate business achieved revenue of 0.821 billion billion yuan in the first half of the year, down 39.90 percent from the same period last year, accounting for 13.61 percent of the company's total operating income, and gross profit margin of 18.80 percent.
In the first half of the year, the company's orders for various packaging substrate products declined to varying degrees compared with the same period last year. With its extensive BT-type packaging substrate product coverage capacity, the company actively introduced new projects, the development of new customers, especially in the storage class, RF module class, FC-CSP product market to achieve deep cultivation results, grasp the second quarter of this year in the field of packaging substrate local demand repair opportunities.
In terms of breakthrough in technical capability, the sample capability of the company's FC-CSP products in MSAP and ETS processes has reached the leading level in the industry. RF and radio frequency products have been successfully imported into some high-end product categories; At present, FC-BGA mid-level products have been successfully certified at the client, some mid-level and high-level products have entered the sample delivery stage, and the technology research and development of high-level products has successfully entered the middle and late stage.
In terms of the construction of new projects, the capacity building of the second phase of Wuxi substrate plant has been steadily advanced, and the production line capacity has been continuously verified and improved, and is currently in the stage of capacity climbing. The construction of the Guangzhou packaging substrate project is progressing smoothly. The construction of the first phase of the plant and supporting facilities and the electromechanical installation project have been basically completed, and the production equipment has been installed in the factory one after another. It is expected to be connected and put into production in the fourth quarter of 2023. During the reporting period, the increase in costs and expenses brought about by Wuxi Phase II substrate factory and Guangzhou packaging substrate project had a certain negative impact on the company's profit. In the second half of 2023, the company's packaging substrate business will continue to focus on the introduction of new projects, key customer development, key process capacity building and other work, to reduce the impact of fluctuations in industry demand, at the same time, for the Guangzhou packaging substrate project in advance to make orders and capacity reserves.
According to the announcement, Shennan Circuit has long adhered to the technology leadership strategy, with technology development as the first driving force, attaches great importance to technology and product research and development, continues to increase the scale of R & D investment, and continuously improves R & D and innovation capabilities. During the reporting period, the company's R & D investment accounted for 6.24 of revenue, up 0.49 percentage points from the same period last year. The company's research and development projects are progressing smoothly, communications, data center and automotive electronics related PCB technology research and development, as well as FC-BGA substrate product capacity building, FC-CSP fine circuit substrate and RF substrate technology capacity improvement projects are steadily advancing on schedule and made phased progress. There are 55 newly authorized patents and 5 new PCT patents. Many products and technologies have reached the domestic and international leading level.
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