苏州东微半导体股份有限公司 第一届董事会第十八次会议 苏州东微半导体股份有限公司独立董事 第一届董事会第十八次会议 （本页无正文,为《苏州东微半导体股份有限公司独立董事关于第一届董事会 第十八次会议相关事项的独立意见》签署页) 独立董事签署: 关于第一届董事会第十八次会议相关事项的独立意见 根据《中华人民共和国公司法》《上市公司独立董事规则》《苏州东微半导 体股份有限公司独立董事工作制度》和《苏州东微半导体股份有限公司章程》的 有关规定,我们作为苏州东微半导体股份有限公司(以下简称"公司")独立董 事,对公司第一届董事会第十八次会议的相关事项发表如下独立意见: 一、《关于公司<2023 年半年度募集资金存放与实际使用情况的专项报告> 的议案》的独立意见 我们认为:公司 2023年半年度募集资金存放与实际使用情况符合《中华人 民共和国证券法》《上海证券交易所科创板上市公司自律监管指引第1号 -- 规 范运作》《上市公司监管指引第2号 -- 上市公司募集资金管理和使用的监管要 求》《上海证券交易所科创板股票上市规则》等相关法律、法规、规范性文件及 公司《募集资金管理制度》的规定。报告期内,公司已按相关规定及时、准 ...

证券代码：688261 证券简称：东微半导 公告编号：2023-022 苏州东微半导体股份有限公司 关于召开2022年年度业绩说明会的公告 一、说明会类型 苏州东微半导体股份有限公司（以下简称"公司"）已于 2023 年 4 月 20 日 在上海证券交易所网站（www.sse.com.cn）披露了《苏州东微半导体股份有限公 会议召开时间：2023 年 5 月 12 日（星期五）10:00-11:00 会议召开方式：网络互动方式 会议召开地点：价值在线（www.ir-online.cn） 会议问题征集：投资者可于 2023 年 5 月 12 日（星期五）上午 9:00 前访 问网址 https://eseb.cn/14alSBjRw2s 或使用微信扫描下方小程序码进行 会前提问，公司将通过本次业绩说明会，在信息披露允许范围内就投资 者普遍关注的问题进行回答。 司 2022 年年度报告》及《苏州东微半导体股份有限公司 2022 年年度报告摘要》。 为便于广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司定 于 2023 年 5 月 12 日（星期五）10:00-11:00 在"价值在线"（www.ir ...

Financial Performance - The company's operating revenue for Q1 2023 reached ¥302,170,776.06, representing a year-on-year increase of 46.93%[3] - Net profit attributable to shareholders was ¥71,126,487.13, up 48.98% compared to the same period last year[3] - The net profit excluding non-recurring gains and losses was ¥67,245,424.88, reflecting a 42.77% increase year-on-year[3] - Basic earnings per share were ¥1.06, representing a 37.66% increase year-on-year[3] - Total operating revenue for Q1 2023 reached ¥302,170,776.06, a 46.9% increase from ¥205,662,518.28 in Q1 2022[18] - Net profit for Q1 2023 was ¥71,126,487.13, representing a 48.9% increase compared to ¥47,743,304.24 in Q1 2022[19] - Basic and diluted earnings per share for Q1 2023 were both ¥1.06, compared to ¥0.77 in Q1 2022[20] Research and Development - Research and development expenses totaled ¥19,019,038.74, marking a significant increase of 129.73%[3] - R&D expenses accounted for 6.29% of operating revenue, an increase of 2.26 percentage points from the previous year[4] - Research and development expenses for Q1 2023 amounted to ¥19,019,038.74, significantly higher than ¥8,278,815.46 in Q1 2022, indicating a focus on innovation[18] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥2,973,362,304.92, a 1.60% increase from the end of the previous year[4] - As of March 31, 2023, the company's total assets amounted to RMB 2,973,362,304.92, an increase from RMB 2,926,426,354.36 at the end of 2022[13] - The company's cash and cash equivalents decreased to RMB 2,138,712,728.82 from RMB 2,304,109,455.98 in December 2022, representing a decline of approximately 7.2%[13] - The trading financial assets increased significantly to RMB 281,578,333.33, up from RMB 140,089,178.09, marking a growth of 100.5%[13] - Inventory levels rose to RMB 203,769,200.26, compared to RMB 175,041,780.15 in the previous period, reflecting an increase of about 16.5%[14] - The company's long-term equity investments increased to RMB 59,200,620.04 from RMB 40,342,921.90, showing a growth of approximately 46.7%[14] - The total current liabilities decreased, with accounts payable reducing to RMB 22,195,890.20 from RMB 24,424,471.72, a decline of about 9.0%[14] - The company reported a total of 2,870,308,241.87 in current assets, slightly up from 2,842,347,867.57, indicating a marginal increase of 1.0%[14] - Total liabilities as of Q1 2023 were ¥67,737,003.75, down from ¥91,922,596.05 in the previous year[16] - The company's total equity increased to ¥2,905,625,301.17 in Q1 2023, compared to ¥2,834,503,758.31 in Q1 2022[16] Cash Flow - The net cash flow from operating activities was negative at -¥4,147,273.65, indicating increased operational scale and cash management efforts[3] - Cash inflow from operating activities in Q1 2023 totaled ¥323,440,443.41, an increase from ¥240,227,871.54 in Q1 2022[21] - The net cash flow from operating activities was -4,147,273.65, an improvement from -18,940,838.92 in the previous period, indicating a positive trend in operational efficiency[23] - Total cash outflow from investing activities was 401,020,952.29, compared to 300,661,836.51 in the previous period, reflecting increased investment efforts[23] - The net cash flow from financing activities was -1,651,639.15, a significant decrease from 2,034,081,513.73 in the previous period, suggesting a shift in financing strategy[24] - The total cash and cash equivalents at the end of the period amounted to 2,138,712,728.82, slightly down from 2,087,072,663.08 in the previous period[24] - The company received cash inflow from investment activities totaling 241,428,082.20, indicating ongoing investment recovery efforts[23] - The cash paid to employees was 18,429,353.61, which is an increase from 9,237,756.30 in the previous period, reflecting a potential increase in workforce or compensation[23] - The cash paid for taxes was 20,097,656.86, up from 16,942,903.57, indicating higher tax obligations possibly due to increased revenues[23] - The company reported a net cash increase from cash equivalents of -165,396,727.16, contrasting with a significant increase of 1,714,477,373.09 in the previous period[24] - The cash inflow from investment recovery was 240,000,000.00, highlighting successful divestments or asset recoveries[23] Future Outlook - The company continues to expand its market presence and optimize product technology, contributing to revenue growth and improved profitability[6] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19] - The company has not disclosed any significant new product developments or market expansion strategies during this reporting period[12] - There were no significant mergers or acquisitions reported in the first quarter of 2023[12] - The company has not provided specific future performance guidance or outlook in the current report[12] - The company is implementing new accounting standards starting in 2023, which may impact future financial reporting and analysis[25]

Dividend and Share Capital - The company plans to distribute a cash dividend of 14.76 CNY per 10 shares, totaling approximately 99.45 million CNY, which represents 34.97% of the net profit attributable to shareholders for 2022[6]. - The company intends to increase its total share capital by 4 shares for every 10 shares held, resulting in an increase of approximately 26.95 million shares, raising the total share capital to approximately 94.33 million shares[6]. Audit and Governance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The company has confirmed that all board members attended the board meeting[5]. - The company has not reported any instances where more than half of the directors could not guarantee the authenticity, accuracy, and completeness of the annual report[9]. - The company has not disclosed any special arrangements for corporate governance[8]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not experienced any violations of decision-making procedures regarding external guarantees[9]. Financial Performance - In 2022, the company's operating revenue reached ¥1,116,363,474.63, representing a year-on-year increase of 42.74%[25]. - The net profit attributable to shareholders was ¥284,356,313.50, a significant increase of 93.57% compared to the previous year[25]. - The gross profit margin improved by 5.24 percentage points in 2022, driven by continuous technological upgrades and product mix optimization[28]. - Basic earnings per share rose to ¥4.31, reflecting a 48.11% increase from the previous year[26]. - The company maintained a stable operating cash flow, with a net cash flow from operating activities of ¥141,630,114.33, up 8.74% year-on-year[25]. - The company's total assets grew to ¥2,926,426,354.36, marking a 365.57% increase year-on-year, primarily due to funds raised from the initial public offering[28]. Research and Development - Research and development expenses accounted for 4.92% of operating revenue, slightly down from 5.30% in the previous year[27]. - The company has increased R&D investment by 32.57% year-on-year, with total R&D expenses reaching 54.93 million yuan, enhancing its competitive edge in power device performance[49]. - The company has developed 1,220 high-voltage MOSFET products and 816 medium and low-voltage shielded gate MOSFET products[130]. - The company has filed 19 new invention patents and obtained 18, bringing the total to 137 applications and 56 granted patents, showcasing its commitment to innovation[117]. - The company has successfully developed and mass-produced the second generation of Tri-gate IGBT technology, further enhancing product performance and achieving domestic replacement of high-performance IGBT products[104]. Market and Product Development - The company focuses on power semiconductor devices, including MOSFETs and IGBTs, which are essential for power conversion and control in electrical equipment[14]. - The company aims to expand its market presence through strategic partnerships and collaborations in the semiconductor industry[15]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the semiconductor market[15]. - The company has successfully replaced IGBT with high-voltage super junction MOSFETs in photovoltaic inverters and energy storage applications, leading to a rapid increase in shipments[44]. - The company has expanded its product offerings in the TGBT category, achieving rapid sales growth and entering mass supply stages for multiple new energy sectors, including photovoltaic inverters and electric vehicle charging modules[45]. Risks and Challenges - The company faces risks from high supplier concentration, which may lead to challenges in meeting production demands if wafer foundry capacity tightens[138]. - The company's gross margin is subject to fluctuations due to product pricing, costs, and market competition, with potential for continued volatility[141]. - As of the end of the reporting period, accounts receivable amounted to 181.06 million yuan, indicating a risk of increased bad debt if major debtors' financial conditions worsen[144]. - Inventory at the end of the reporting period was valued at 175.04 million yuan, with risks of impairment if market conditions change unfavorably[145]. - Future performance may be adversely affected if national policies supporting the semiconductor industry weaken[146]. Industry Trends - The global power semiconductor market size is estimated to be approximately $29.535 billion in 2022, with a projected growth to $35.865 billion by 2026, reflecting a CAGR of 5.8% from 2019 to 2026[76]. - The Chinese power semiconductor market reached $11.477 billion in 2022, expected to grow to $13.176 billion by 2026, with a CAGR of 4.7%, accounting for nearly 37% of the global market[77]. - The demand for high-performance power semiconductor devices is experiencing explosive growth due to the rapid development of the new energy vehicle and 5G industries[197]. - The dual carbon goals of "carbon peak and carbon neutrality" are driving a surge in demand for power semiconductor devices, particularly in clean energy applications[196]. - The energy storage industry chain in China has grown from 48 billion RMB in 2021 to 160 billion RMB in 2022, highlighting the expanding market for power semiconductor applications[198]. Customer and Sales Dynamics - The company's sales model includes both distribution and direct sales, fostering long-term relationships with customers through framework agreements[72]. - Revenue from automotive and industrial applications constituted approximately 80% of the main business income, with significant growth in various segments, including a 500% increase in revenue from onboard chargers[161]. - The top five customers contributed 62,989.77 million yuan in sales, accounting for 56.42% of the total annual sales, with related party sales making up 12.03%[166]. - The company has established long-term partnerships with leading domestic and international clients, enhancing customer loyalty and driving continuous technological upgrades[131]. Investment and Financial Strategy - The company raised 1,974,208,282.33 yuan through its initial public offering, significantly impacting financing cash flow[174]. - The company invested a total of RMB 41 million in the Suzhou Industrial Park Su Nawei New Venture Capital Partnership during the reporting period, with an initial fundraising amount of RMB 71 million[184]. - The company has established a wholly-owned subsidiary, Guangzhou Dynamic Semiconductor Co., Ltd., with a registered capital of 20 million RMB, holding 100% equity, and reported total assets of 7.6 million RMB and net profit of 9.3 million RMB[188].

Revenue and Profit - Revenue for Q3 2022 reached ¥323,822,718.87, representing a year-over-year increase of 35.85%[5] - Net profit attributable to shareholders for Q3 2022 was ¥83,252,582.83, up 103.24% compared to the same period last year[5] - The net profit excluding non-recurring gains and losses for Q3 2022 was ¥79,855,530.10, reflecting a 95.87% increase year-over-year[5] - Basic earnings per share for Q3 2022 stood at ¥1.24, a 53.09% increase compared to the same period last year[9] - Total operating revenue for Q3 2022 reached ¥790,091,145.98, a 41.2% increase from ¥559,194,726.56 in Q3 2021[36] - Net profit for Q3 2022 was ¥200,032,022.28, compared to ¥92,768,634.17 in Q3 2021, representing a 115.5% increase[39] - Basic earnings per share for Q3 2022 were ¥3.05, compared to ¥1.84 in Q3 2021, reflecting a 65.2% increase[42] Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥2,830,926,499.82, showing a significant increase of 350.37% compared to the end of the previous year[9] - Total assets as of Q3 2022 were ¥2,830,926,499.82, significantly higher than ¥628,572,810.01 in Q3 2021[36] - Total liabilities for Q3 2022 were ¥80,739,833.10, compared to ¥62,779,115.53 in Q3 2021, indicating a 28.7% increase[36] - Shareholders' equity for Q3 2022 was ¥2,750,186,666.72, up from ¥565,793,694.48 in Q3 2021, representing a 385.5% increase[36] - The total assets increased to ¥2,830,911,113.13 from ¥628,604,792.53, indicating a growth of 350.5%[52] Cash Flow - Cash flow from operating activities for the year-to-date period increased by 70.64% to ¥100,913,374.84[5] - Cash inflow from operating activities for the first three quarters of 2022 was CNY 852,223,702.26, an increase of 52% compared to CNY 560,473,267.14 in the same period of 2021[44] - Net cash flow from operating activities for the first three quarters of 2022 was CNY 100,913,374.84, up 70% from CNY 59,139,367.23 in the previous year[44] - Cash inflow from investment activities totaled CNY 703,228,746.57, significantly higher than CNY 20,307,342.40 in the same period of 2021[46] - Cash inflow from financing activities reached CNY 2,034,604,743.40, with a net cash flow of CNY 1,975,881,061.09, a substantial increase compared to a net outflow of CNY 1,089,637.21 in the same period of 2021[46] Shareholder Information - The total number of common shareholders at the end of the reporting period is 4,792[20] - The largest shareholder, Wang Pengfei, holds 8,129,229 shares, representing 12.07% of the total shares[20] - The second-largest shareholder, Suzhou Industrial Park Original Point Venture Capital Co., Ltd., holds 7,672,500 shares, accounting for 11.39%[20] - The company has a total of 3,330,752 unrestricted shares held by Hubble Technology Venture Capital Co., Ltd., representing 4.94%[24] - The total number of shares held by the top ten unrestricted shareholders is 19,000,000, accounting for a significant portion of the company's equity[24] Research and Development - The company's R&D investment totaled ¥15,346,248.68 in Q3 2022, accounting for 4.74% of revenue, a decrease of 0.68 percentage points year-over-year[9] - Research and development expenses for Q3 2022 amounted to ¥36,072,000.67, an increase of 22.5% from ¥29,425,863.30 in Q3 2021[39] Inventory and Current Assets - The company's total current assets as of September 30, 2022, amount to approximately ¥2.81 billion, compared to ¥613.62 million at the end of 2021[31] - Cash and cash equivalents are reported at approximately ¥2.07 billion, a significant increase from ¥372.60 million[31] - Inventory as of September 30, 2022, stands at approximately ¥157.87 million, up from ¥99.62 million[31] - The company's inventory increased to CNY 157,868,553.46 from CNY 99,615,443.66 year-over-year[50] - The company reported a total of CNY 2,810,482,604.90 in current assets, up from CNY 613,282,118.39 in the previous year[50]

Financial Performance - The company reported a total revenue of 500 million CNY for the first half of 2022, representing a year-on-year increase of 20%[1]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the first half of 2022, representing a 25% year-over-year growth[15]. - The company's operating revenue for the first half of 2022 reached ¥466,268,427.11, representing a 45.33% increase compared to the same period last year[27]. - Net profit attributable to shareholders increased by 125.42% to ¥116,779,439.45, driven by rising operating income and a significant increase in gross margin[27]. - The net cash flow from operating activities grew by 85.25% to ¥60,485,671.63, attributed to increased revenue and improved cash collection from customers[28]. - The company's total assets rose by 335.13% to ¥2,735,112,386.63, primarily due to the proceeds from the initial public offering and substantial profit growth[28]. - Basic earnings per share increased by 75.73% to ¥1.81, reflecting the company's enhanced profitability[28]. - The gross margin improved by 6.71 percentage points year-on-year, influenced by ongoing technological iterations and product mix adjustments[27]. - The revenue from high-voltage super junction MOSFET products was 364 million, representing a growth of 52.16% year-on-year[135]. - Revenue from the automotive and industrial applications accounted for over 70% of total revenue, with significant contributions from electric vehicle charging stations and photovoltaic inverters[136]. Market Expansion and Product Development - The company plans to launch two new semiconductor products by Q4 2022, aiming to capture a larger market share[1]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[1]. - The company has established a new partnership with a leading technology firm to enhance its product offerings and market reach[1]. - The company is actively expanding TGBT production capacity and has begun mass production of higher current density second-generation TGBT products to meet increasing demand[110]. - The company is developing power devices based on third-generation semiconductor SiC materials, with a new technology route and related patents under active promotion and customer certification[112]. - The company has successfully developed the second generation of Tri-gate IGBT technology, which has improved product performance and has been validated by multiple customers for mass production[65]. - The company has expanded its product specifications to 1,958 models, including 1,150 high-voltage super junction MOSFET products and 710 medium and low-voltage shielded gate MOSFET products[74]. Research and Development - Research and development expenses increased by 30%, reflecting the company's commitment to innovation and new technology[1]. - The company plans to invest 200 million CNY in new technology development over the next two years to improve product efficiency and reduce costs[15]. - The company has increased its R&D investment, with a rapid growth in R&D funding, personnel, patent numbers, and new product development[65]. - R&D investment totaled ¥20,725,751.99, a 25.60% increase compared to ¥16,501,245.28 in the same period last year, with R&D expenses accounting for 4.45% of operating revenue, down 0.69 percentage points[79]. - The total number of R&D personnel increased to 44, representing 44.90% of the company's total workforce, with a total R&D personnel compensation of 7.08 million RMB[90]. Strategic Outlook and Risks - Future outlook includes a projected revenue growth of 25% for the full year 2022, driven by increased demand in the semiconductor market[1]. - The management highlighted potential risks including supply chain disruptions and market competition, which could impact future performance[1]. - The company has no plans for mergers or acquisitions in the near term, focusing instead on organic growth strategies[1]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million allocated for potential deals[176]. Environmental Commitment - The company has committed to environmental responsibilities and is involved in the development of clean energy and energy-efficient industries[159]. - The company aims to enhance its technological innovation and develop more industrial and automotive products to support national carbon neutrality goals[160]. - The company has adhered to various environmental protection laws and regulations without any major violations[158]. Shareholder Commitments and Stock Management - The company has a commitment period for share lock-up lasting 36 months from the date of listing for several major shareholders[165]. - The company will comply with all relevant laws and regulations regarding the transfer of shares, including those set by the China Securities Regulatory Commission and the stock exchange[182]. - The company will ensure compliance with all relevant regulations during any share transfers by its core technical personnel[182]. - The company commits to not proposing repurchase of pre-IPO shares during the specified lock-up periods[182].

2022 年第一季度报告 证券代码：688261 证券简称：东微半导 苏州东微半导体股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 1 / 19 2022 年第一季度报告 一、 主要财务数据 | --- | --- | --- | --- | --- | |-----------------------------------------------|------------------|----------------|-------|----------------------------------------| | ( 一)主要会计数据和财务指标 | | | | ...

Financial Performance - The company has not yet achieved profitability since its listing [4]. - The company reported a significant increase in revenue, reaching 1.2 billion yuan, representing a 25% year-over-year growth [19]. - The company's operating revenue for 2021 was ¥782,091,845.56, representing a year-on-year increase of 153.28% compared to ¥308,787,414.12 in 2020 [26]. - The net profit attributable to shareholders for 2021 was ¥146,903,706.46, a significant increase of 430.66% from ¥27,683,219.46 in 2020 [29]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥140,506,928.84, reflecting a year-on-year growth of 588.67% compared to ¥20,402,633.39 in 2020 [26]. - The company's cash flow from operating activities for 2021 was ¥130,246,075.31, a recovery from a negative cash flow of ¥37,485,732.18 in 2020 [26]. - The gross profit margin for 2021 increased by 10.87 percentage points compared to the previous year, contributing to the overall profit growth [29]. - The total assets at the end of 2021 were ¥628,572,810.01, up 43.63% from ¥437,640,219.48 at the end of 2020 [26]. - The net assets attributable to shareholders increased by 35.07% to ¥565,793,694.48 at the end of 2021 from ¥418,897,956.11 at the end of 2020 [26]. - Basic earnings per share for 2021 were ¥2.91, a 385.00% increase from ¥0.60 in 2020 [26]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 3.30 CNY per 10 shares, totaling approximately 22.23 million CNY, which represents 15.14% of the net profit attributable to shareholders for 2021 [5]. - The board of directors has approved the profit distribution plan, pending approval from the shareholders' meeting [5]. - The company does not plan to increase capital reserves or issue bonus shares [5]. Audit and Governance - The company has received a standard unqualified audit report from Tianjian Accounting Firm [4]. - There are no non-operating fund occupations by controlling shareholders or related parties [6]. - There are no special arrangements for corporate governance [6]. - The company confirmed that all directors attended the board meeting [4]. Risk Management - The company has disclosed potential risks in the "Management Discussion and Analysis" section of the report [4]. - The company emphasizes that forward-looking statements do not constitute a commitment to investors [5]. - The company faces risks related to high supplier concentration, which could impact product delivery and revenue growth if wafer supply becomes constrained [179]. - The company’s product structure is relatively singular, primarily focusing on MOSFET products, which may pose risks if market demand shifts or if it fails to innovate in next-generation semiconductor materials [180]. - The company faces risks from international trade tensions and potential impacts from the ongoing COVID-19 pandemic on supply chains and customer demand [193][194]. Research and Development - The company invested 5.30% of its operating revenue in R&D in 2021, slightly up from 5.18% in 2020 [26]. - The company achieved a 159.07% year-on-year increase in R&D expenses, totaling CNY 41.43 million, reflecting a strong commitment to product performance and innovation [52]. - The company has developed over 1,790 product specifications, including 1,100 high-voltage super junction MOSFETs and 641 low-voltage SGT products, enhancing its product portfolio [50]. - The company has established a complete R&D team and system, ensuring its products maintain a leading position in the domestic and international markets [165]. - The company has implemented multiple digital systems to enhance R&D efficiency during the reporting period [133]. - The company has filed for 55 patents during the year, with 18 granted, including 16 invention patents [145]. Market Expansion and Product Development - The company projects a revenue growth of 15% for the next fiscal year, with an expected revenue of 1.38 billion yuan [22]. - Market expansion plans include entering the European market, targeting a 10% market share within the next two years [22]. - The company is actively expanding its overseas market presence, particularly in Europe, targeting applications in electric tools, automotive charging, and industrial power [49]. - The company is expanding its product applications into various fields, including LED lighting, 5G communication power supplies, and data center server power supplies [155]. - The company has successfully launched multiple voltage platform high-voltage super junction MOSFETs on a 12-inch production line in 2021 [135]. Customer Relations and Sales Strategy - The company employs a "distribution plus direct sales" model, establishing long-term relationships with customers through framework cooperation agreements [81]. - The company has developed a comprehensive customer management system to ensure high-quality service and support for long-term partners [82]. - The company's sales revenue from distributors accounted for 63.89% of total revenue, highlighting reliance on distributor management for brand and customer relations [186]. - The company benefits from a high customer retention rate due to the high entry barriers in the supply chain of leading clients, which drives continuous technological upgrades to meet industry demands [170]. Product Innovation and Technology - The company is investing in R&D for GaN technology, aiming to reduce power losses by 20% in future products [19]. - The introduction of a new power module is anticipated to improve power density by 30%, enhancing overall product efficiency [19]. - The company has developed a new type of gate-controlled field effect transistor patent technology for 650V SiC products, establishing a platform for SiC product design and manufacturing capabilities [161]. - The company has successfully developed and started mass production of its fourth-generation high-voltage GreenMOS technology, with expectations for large-scale supply beginning in 2022 [141]. - The company has developed and optimized IGBT products with improved conduction voltage drop and switching speed, resulting in lower power consumption and higher efficiency [138]. Industry Trends and Market Outlook - The global power semiconductor market size was approximately $46.4 billion in 2019 and is projected to grow to $52.2 billion by 2024, with a CAGR of 2.4% from 2019 to 2024 [86]. - The demand for high-voltage super junction MOSFETs is expected to grow significantly due to their suitability for high-performance applications in new energy and 5G infrastructure [88]. - The IGBT market in the electric vehicle sector is projected to reach approximately $57.2 billion by 2025, driven by the increasing demand for electric vehicles [91]. - The penetration rate of new energy vehicles is expected to exceed 25% of total vehicle production in 2023 and increase to over 50% by 2027 [126]. - The rapid construction of charging stations is expected to benefit the market for power devices, particularly the super junction MOSFET, with a value of $200-300 for a 100 kW charging station [116].