Xinyichang was surveyed by 57 institutions: at the beginning of the second half of the year, the order and delivery situation of the company's Mini LED business has improved significantly compared w

Xinyichang released an investor relations activity record form on August 14. The company was surveyed by 57 institutions on August 11, 2023. The types of institutions were insurance companies, others, fund companies, overseas institutions, securities companies, and sunshine private equity institutions. Introduction to the main contents of investor relations activities: 1. Company introduction: In the first half of 2023, the company achieved operating income of 539 million yuan and net profit attributable to the parent company of 44.0986 million yuan. Affected by the macroeconomic situation, the industry's prosperity declined. The company's product line layout changed in the first half of the year, the revenue of traditional LED die-bonding machines declined, and the sales growth of Mini LED and semiconductor equipment was lower than expected. At the same time, the company carried out equity incentives and increased R&D investment in the first half of the year, so profits in the first half of the year dropped significantly. The business of the company and its subsidiaries in all sectors is carried out as scheduled. Kaijiu's wire bonding equipment is still in the stage of large-scale R&D investment due to high technical difficulty. Some products have passed customer verification and have been shipped in small batches. Feihong’s testing and packaging equipment is also in the early stage of large-scale R&D investment.Ship in small quantities. The company has currently completed the layout of die bonding, wire bonding, and test packaging in the field of semiconductor packaging. At the same time, the company established Xinghaiwei to layout the upstream. Its main products include PET coating equipment for lithium batteries and third-generation semiconductor crystal growth furnaces. PET coating equipment already has orders in hand and is expected to be delivered in the first half of next year. The prototype of the third-generation crystal growth furnace is expected to be launched by the end of the year. The company's overall layout is advancing as planned. The company is a leading enterprise in the field of intelligent manufacturing equipment for die bonding machines and capacitor aging testing in China. After the company's relatively in-depth adjustments in the first half of the year, as the industry's prosperity continues to rebound in the second half of the year, the company's performance will also be released.

Question: What are the development trends of the company's semiconductor and Mini LED segments in the second half of the year and next year?

Answer: At the beginning of the second half of the year, the order and delivery situation of the company's Mini LED business has improved significantly compared with the first half of the year. The semiconductor business has also successively received orders from high-quality customers, laying a good foundation for performance improvement. In the future, the company's market position and product competitiveness in these two sectors will become increasingly prominent.

Question: Who are the main customers of Mini LED?

Answer: The company's current main customers for Mini LED are: BOE, Sanan, Leyard (300296), Ledman, Unilumin, Zhaochi, etc.

Question: What is the status of the company's semiconductor products?

Answer: The company's semiconductor products currently have a maximum sealing and testing accuracy of ±5μm, which can meet the needs of most customers. The products cover MEMS, analog, digital-analog hybrid, discrete devices and other fields. The company will also continue to invest in research and development to enrich the company's product line.

Question: What is the technical path for PET coating equipment?

Answer: The company's lithium battery PET coating equipment uses multiple lines of parallel research and development, and will be based onCustomer needs, customized development. The company's PET coating equipment has received formal orders, and the equipment is scheduled to be delivered in Q1 of 2024.

Question: What is the progress of the silicon carbide crystal growth furnace?

Answer: The company's semiconductor crystal growth furnace equipment has completed the overall design and is expected to produce prototypes in the fourth quarter.

Question: What is the company's expected revenue this year in the semiconductor bonding wire and test packaging fields?

Answer: The company's newly developed semiconductor wire bonding equipment and test packaging equipment are expected to recognize revenue in small batches this year.

Question: What will be the situation of the company's die-bonding business this year and next?

Answer: The company's product layout is relatively complete, and the production capacity layout can be adjusted according to customer demand. Customer demand recoversWhen the time comes, the company can respond in a timely manner to meet customer needs.

Question: What is the layout of the advanced packaging field?

Answer: The company has begun to lay out high-precision equipment in the advanced packaging field. Some equipment is already undergoing verification. It is expected that the equipment will be verified by customers in the short term.

Question: How does the company's equipment compare with overseas competitors' products?

Answer: Friendly equipment uses acupuncture and laser methods, which are theoretically faster. However, there are many technical obstacles that need to be overcome in these two modes, and they are not currently popular in the market. The company's equipment adopts the pick&place method, which is a technology used by mainstream equipment in the market. It gradually increases the equipment speed while ensuring a high yield rate.

Question: What was the company’s R&D investment in the first half of the year? Answer: In the first half of the year, the company invested 51.6709 million yuan in research and development, an increase of 29.05% compared with the same period last year. In recent years, the company's R&D investment in new products and new application fields such as semiconductor packaging, Mini LED, Micro LED, and supercapacitor intelligent manufacturing equipment has continued to increase, laying a solid foundation for future market development of products.

Question: What is the delivery cycle of the company's products?

Answer: The delivery cycle of the company's products is about 2-3 months.

Question: What is the advance payment status of the company's orders?

Answer: The sales contract between the company and the customer generally stipulates that the customer pays part of the payment when the contract is signed, usually about 30% of the contract amount.

Question:How does the company view downstream customers’ packaging adoption of different technical routes and the company’s layout?

Answer: The company's products are suitable for a variety of technical routes. Most of the main customers use COB and MIP technologies, which are recognized as the mainstream technology routes in the industry. The company invests heavily in this area. The company also cooperates with customers on COG. The company continues to iterate through technological updates and optimize the performance of core components. On the basis of ensuring ultra-high yield rates of equipment, it improves the equipment's single-hour production capacity to meet customer needs. It will also pay close attention to other technical routes.

Question: What is the company's expected equipment delivery status for the Mini LED and semiconductor businesses in the second half of the year?

Answer: It is expected that the prosperity of the Mini LED and semiconductor sectors will rebound in the second half of the year compared with the first half of the year, and the company is currently delivering orders one after another.

Question: The company's gross profit margin in the second half of the yearExpected?

Answer: The company has a high proportion of self-developed and self-produced core components of die-bonding equipment, and has established a new comprehensive technology development platform, which has given the company stronger advantages in controlling costs and improving product performance. In the future, the gross profit margin of the equipment will be maintained through technological iterations.

Question: What proportion of the company's semiconductor equipment and Mini LED equipment accounted for in the first half of the year?

Answer: Semiconductor equipment and Mini LED equipment together accounted for about 40% of revenue in the first half of the year. In the future, the company will also strive to increase the sales proportion of such equipment.

Question: What is the situation in Zhongshan Industrial Park?

Answer: The company's first industrial park in Zhongshan has been completed and put into production. Based on the need to expand production and integrate the original layout of Zhongshan, the company acquired another land plot in Zhongshan at the beginning of the year to prepare for the future.to meet customer needs.

Question: What is the company’s full-year revenue forecast?

Answer: The company currently has about 700 million yuan in orders on hand, which is sufficient. After years of hard work, the company has achieved a leading position in the market in the field of LED die-bonding machines and capacitor aging testing intelligent manufacturing equipment. With the recovery of the industry's prosperity, it will lay a solid foundation for the company's performance growth. The company will also continue to optimize production and operations, continue to improve its technical strength and manufacturing processes, and enhance the company's competitiveness.