Silan Micro expects net profit of more than RMB 70 million in 2009, up by 416% year-on-year. This is mainly due to the further recovery of external demand. The shipments of the company's integrated circuits, discrete devices and LED devices have remained high in the fourth quarter. The level of profitability has been further improved.
Silan Micro released the announcement of the 2009 performance forecast on January 22, and the company's financial department initially estimated that the company's net profit attributable to shareholders of the listed company in 2009 will be more than 70 million yuan, an increase of more than 418%. The company previously expected 2009 net profit to increase by more than 50% in the third quarter of 2009.
The company's current main business is concentrated in discrete devices and integrated circuits. As the economy stabilizes and rebounds, the company's performance is on a quarterly basis. The company plans to raise funds through non-public offerings. After the project is put into production, the revenue of LED products will increase significantly and improve the company's profitability.
In the first three quarters of 2009, the company achieved operating income of 666 million yuan, down 14.06% year-on-year; net profit was 47.68 million yuan, up 31.9% year-on-year, of which net profit in the third quarter was 30.459 million yuan, up 52.6% year-on-year. The third quarterly report indicates that the company is at an inflection point, and the increase in sales revenue has brought about a substantial increase in profit. From the current situation, the company continued its upward trend in the fourth quarter, achieving a net profit of 22.53 million yuan, while the net profit for the same period in 2008 was -2,241.1. Ten thousand yuan.
In terms of business, the company achieved sales of integrated circuits of 320 million yuan in the first three quarters of 2009, down 17.82% year-on-year; discrete device chips achieved sales revenue of 207 million yuan, down 9.31% year-on-year; LED device chip sales reached 133 million yuan, down 12.19 year-on-year. %. From the perspective of gross profit margin, the gross profit margin of LED business reached 37.99%, which is the highest gross profit margin of the company, while the gross profit margin of the other two businesses was 24.13% and 22.55%.
At present, the company's total discrete device and integrated circuit production capacity is about 100,000 pieces per month, ranking second in the domestic 5 and 6-inch chip production lines. The capacity utilization rate in the third quarter is above 85%, and the current capacity utilization rate is over 90%. The monthly production capacity of Silan Integrated Plant is about 80,000 pieces, and the monthly capacity of Silan Integrated Second Plant is 20,000-2.5 million pieces. Silan Integrated Second Plant has BiCMOS and BCD processes, and the future expansion is mainly in the second plant.
The company is the most complete range of discrete device die suppliers in China. The main products include switching diodes, Zener diodes, Schottky diodes, VDMOS tubes, phototransistors, etc. The company's discrete devices have been developed and produced over the past few years. Mature, with certain advantages in the country, the future can be used as the main source of income and growth momentum. VDMOS is a hot spot for domestic semiconductor companies in recent years. The company has been able to mass produce high-voltage and low-voltage VSMOS tubes, and its mass production level is also relatively high.
It is worth noting that the company plans to raise funds of no more than 600 million yuan for the expansion of high-brightness LED chip production line projects. The existing production scale of Silan Mingxin is 500 million LED chips per month, and 125,000 wafers per month. Due to the small investment in the previous period, the current scale can not meet the rapid growth of the LED market. In order to further expand the production scale and enhance the competitive advantage of Silan Mingxin LED products, we will consolidate and expand Shilan Mingxin's leading position in the high-end fields such as LED indoor and outdoor full-color screens, and expand LED lighting, LED backlighting of LCD screens, etc. The company plans to expand the LED chip production line through the non-public offering of shares.
The fundraising project plans to purchase about 312 sets of new production equipment, which will be used to expand the LED chip production line, adding 570,000 pieces of epitaxial wafers/years, and adding 7.2 billion pieces/year. After the implementation of the project, the company has a production scale of 1.1 billion high-brightness light-emitting diode (LED) chips per month and 60,000 pieces of epitaxial wafers per month, which will greatly enhance the company's product competitiveness. According to the company's calculation, after the project is put into production (full production), the annual sales income will be 352.80 million yuan, the income after income tax will be 121.23 million yuan, and the sales profit rate will be 31.72%.
At present, the quality and reliability of Silan Mingxin's low-power blue and green optical chip products have reached the international advanced level. The process covers MOCVD growth of compound semiconductor materials, LED chip manufacturing, chip testing, and singulation. Among the domestic LED chips selected for indoor and outdoor full color screens, the company's products have a large market share. In the field of blue and green light chips, the company has become one of the largest LED chip manufacturers in mainland China.
After the completion of the issuance, the company's LED product capacity will be rapidly increased, and the release of huge production capacity will bring a large demand for raw materials and supporting components. The company's main raw material sapphire substrates still need to be imported from abroad. Although the company strives to strengthen cooperation with the world's major raw material suppliers and continuously expand procurement channels, if there is a sharp increase in demand, trade disputes or wars, etc. The supply of raw materials is tight, and the company still faces certain risks of supply of raw materials and supporting components.
Silan Micro's third quarterly report showed that the company achieved operating income of 666 million yuan in the first three quarters, down 14.02% year-on-year; net profit was 47.74 million yuan, up 31.96% year-on-year. As of the close of the morning, the company closed at 14.13 yuan per share, up 0.14%. (Edit: Looking up at the stars)
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Guangzhou Chengwen Photoelectric Technology co.,ltd , https://www.cwstagelight.com