证券代码：688711 证券简称：宏微科技 转债代码：118040 债券简称：宏微转债 江苏宏微科技股份有限公司 2024 年半年度业绩说明会 投资者关系活动记录表 编号：2024-006 ☐特定对象调研 ☐分析师会议 ☐媒体采访 业绩说明会 投资者关系活动类别 ☐新闻发布会 ☐路演活动 ☐现场参观 ☐电话会议 ☐其他 参会单位名单 线上参与公司 2024 年半年度业绩说明会的全体投资者 时间 2024 年 9 月 2 日（星期一）下午 15:00-16:30 地点 同花顺路演平台：(https://board.10jqka.com.cn/rs/pc/detail?roadshowId=1 010305） | --- | --- | |-------------------------|--------------------------------------------------------------------------------------------------------------------------| | 上市公司接待人员姓 \n名 | 董事长 赵善麒、财务总监 薛红霞、独立董事 ...

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[Table_Industry] [Table_Title] 评级：买入（维持） 市场价格：12.39 元/股 [Table_Finance 公司盈利预测及估值 1] 指标 2022A 2023A 2024E 2025E 2026E 营业收入（百万元） 926 1,505 1,731 2,143 2,607 增长率 yoy% 68% 62% 15% 24% 22% 净利润（百万元） 79 116 110 150 200 增长率 yoy% 14% 48% -5% 37% 33% 每股收益（元） 0.37 0.55 0.52 0.71 0.94 每股现金流量 -0.38 -0.69 0.74 0.36 0.44 净资产收益率 8% 10% 8% 11% 13% P/E 33.5 22.7 24.0 17.6 13.2 P/B 2.7 2.3 2.0 1.9 1.7 备注：每股指标按照最新股本数全面摊薄，股价按 8 月 27 日收盘价进行计算 [Table_Profit] 基本状况 总股本(百万股) 213 流通股本(百万股) 174 市价(元) 12.39 市值(百万元) 2,638 流通市值(百万元) 2,15 ...

证券代码：688711 证券简称：宏微科技 转债代码：118040 债券简称：宏微转债 江苏宏微科技股份有限公司 投资者关系活动记录表 （2024 年 8 月 23 日-2024 年 8 月 27 日） 编号：2024-005 ☐特定对象调研 ☐分析师会议 ☐媒体采访 ☐业绩说明会 投资者关系活动类别 ☐新闻发布会 ☐路演活动 ☐现场参观 电话会议 ☐其他 华夏基金、嘉实基金、易方达基金、中欧基金、华宝基金、银河基 金、建信养老金、永赢基金、东兴基金、上海晨燕资产管理中心（有 限合伙）、上海臻宜投资管理有限公司、红杉资本、摩根士丹利基 金、汇丰晋信基金、东方阿尔法基金、东吴基金、泰康资产管理有限 责任公司、东方基金、上海迈维资产管理有限公司、兴银基金、青骊 投资、光大保德信基金、太平洋保险资产、第一创业证券股份有限公 司、山西证券资管、北海棣增投资咨询有限公司、东海基金、昆仑资 参会机构名单 管、汇泉基金管理有限公司、丰琰投资管理（上海）有限公司、泰康 基金管理有限公司、九泰基金管理有限公司、国盛证券、Sumitomo Mit sui DS Asset Management、招商信诺资产管理有限公司、上海朴易 ...

Financial Performance - The company's revenue for the first half of 2024 reached 1.23 billion yuan, representing a year-on-year growth of 15.6%[11] - Net profit for the first half of 2024 was 150 million yuan, an increase of 12.3% compared to the same period last year[11] - Revenue for the reporting period was 636.62 million yuan, a decrease of 16.72% year-over-year[15] - Net profit attributable to shareholders was 2.51 million yuan, a significant decrease of 95.98% year-over-year[15] - Net profit attributable to shareholders after deducting non-recurring gains and losses was -3.04 million yuan, a decrease of 105.21% year-over-year[15] - Basic earnings per share were 0.0118 yuan, a decrease of 95.99% year-over-year[16] - Diluted earnings per share were 0.0118 yuan, a decrease of 95.97% year-over-year[16] - Revenue for the first half of 2024 was 636.62 million yuan, a year-on-year decrease of 16.72%[46] - Net profit attributable to shareholders was 2.51 million yuan, a year-on-year decrease of 95.98%[46] - Revenue decreased by 16.72% to 636,620,225.04 yuan compared to the same period last year[59] - Gross profit margin was 15.23%, showing a decline due to macroeconomic factors and increased competition in the new energy vehicle market[57] - Operating cash flow improved significantly to 57,347,368.69 yuan from a negative 116,033,559.30 yuan in the previous year[59] - Comprehensive income for the first half of 2024 totaled -410,772.80 RMB, compared to 62,425,827.53 RMB in the same period last year[147] - Net profit attributable to the parent company's owners was 2,514,108.66 RMB, while the net profit attributable to minority shareholders was -2,924,881.46 RMB[147] - Basic earnings per share (EPS) for the first half of 2024 were 0.0118 RMB, down from 0.2944 RMB in the same period last year[147] - Operating income for the first half of 2024 was 616,095,666.92 RMB, a decrease from 764,417,819.31 RMB in the same period last year[148] - Operating profit for the first half of 2024 was 5,506,325.13 RMB, compared to 66,204,139.39 RMB in the same period last year[149] - Net cash flow from operating activities for the first half of 2024 was 435,930,006.62 RMB, up from 411,380,159.20 RMB in the same period last year[150] - Tax refunds received in the first half of 2024 were 1,271,328.75 RMB, down from 16,445,285.26 RMB in the same period last year[150] - Cash paid for goods and services in the first half of 2024 was 265,411,160.91 RMB, a decrease from 461,510,503.63 RMB in the same period last year[150] - Operating cash flow for the first half of 2024 was RMB 57.35 million, a significant improvement from a negative RMB 116.03 million in the same period last year[152] - Investment cash flow for the first half of 2024 was negative RMB 90.63 million, compared to negative RMB 26.37 million in the same period last year[152] - Financing cash flow for the first half of 2024 was negative RMB 63.37 million, a sharp decline from positive RMB 148.09 million in the same period last year[152] - Cash and cash equivalents decreased by RMB 97.20 million in the first half of 2024, compared to an increase of RMB 4.61 million in the same period last year[153] - The company's cash and cash equivalents balance at the end of the first half of 2024 was RMB 91.02 million, down from RMB 188.22 million at the beginning of the period[153] - Parent company's operating cash flow for the first half of 2024 was RMB 89.08 million, a significant improvement from negative RMB 118.74 million in the same period last year[154] - Parent company's investment cash flow for the first half of 2024 was negative RMB 61.57 million, compared to negative RMB 46.37 million in the same period last year[155] - Parent company's financing cash flow for the first half of 2024 was negative RMB 100.37 million, a sharp decline from positive RMB 133.09 million in the same period last year[155] - The company's total owner's equity at the end of the first half of 2024 was RMB 1.14 billion, a decrease of RMB 15.10 million from the beginning of the period[157] - Comprehensive income for the first half of 2024 was RMB 2,514,108.66, a decrease of RMB 410,772.80 compared to the previous period[158] - Owner contributions and capital reductions amounted to RMB -5,013,152.06, with ordinary shares contributing RMB 4,000,000.00[158] - Profit distribution for the period was RMB -13,672,561.77, allocated to owners (or shareholders)[159] - Capital reserve transferred to capital (or share capital) was RMB 60,766,942.00[160] - The ending balance for the period was RMB 1,127,698,575.15, with a decrease of RMB 910,502.99[161] - The beginning balance for the year was RMB 965,686,490.88, with a capital reserve of RMB 611,139,760.02[162] - The total comprehensive income for the period was RMB 62,518,536.56, with a decrease of RMB 92,709.03[163] - Owner contributions and capital reductions included RMB 15,150,374.52 from equity instruments[164] - Profit distribution for the period included RMB -22,155,636.43 allocated to owners (or shareholders)[165] - The ending balance for the period was RMB 1,034,896,123.50, with a decrease of RMB 92,709.03[166] - The company's total owner's equity at the end of the period was RMB 1,140,272,589.27, a decrease of RMB 9,253,350.72 compared to the beginning of the period[168] - The company's comprehensive income for the period was RMB 9,432,363.11[167] - The company's capital reserve decreased by RMB 55,783,486.22 during the period[167] - The company's undistributed profit decreased by RMB 4,240,198.66 during the period[167] - The company's registered capital as of June 30, 2024, was RMB 212,883,660.00[171] - The company's total owner's equity at the end of the previous year was RMB 967,299,436.32[169] - The company's comprehensive income for the previous year was RMB 63,025,575.55[169] - The company's undistributed profit increased by RMB 40,869,939.12 during the previous year[169] - The company's capital reserve increased by RMB 15,150,374.52 during the previous year[169] - The company's total owner's equity at the end of the previous period was RMB 1,037,108,816.96[170] R&D and Innovation - R&D expenditure for the first half of 2024 was 180 million yuan, accounting for 14.6% of total revenue[11] - New product development in the SiC (Silicon Carbide) semiconductor sector is progressing as planned, with a target launch date in Q4 2024[11] - The company has successfully reduced production costs by 8% through process optimization and automation[11] - R&D expenses accounted for 8.47% of revenue, an increase of 1.87 percentage points year-over-year[16] - The company's R&D process includes five stages: project initiation, product design and development, process design and development, trial production, and mass production, with each stage reviewed by a specialized committee[21] - The company's customized products are developed in collaboration with clients, involving pre-mass production and post-mass production phases, with technical service fees charged during the R&D phase[22] - The company's silver sintering technology, suitable for third-generation semiconductor module packaging, offers excellent conductivity and thermal performance with a melting point of 961°C, avoiding fatigue effects seen in soft soldering below 300°C[33] - Low-distribution parameter module wiring technology reduces parasitic inductance by 30%-50%, significantly lowering the risk of device overvoltage failure[33] - The company has accumulated 43 invention patents, 81 utility model patents, and 7 design patents by the end of the reporting period[35] - R&D expenses totaled 53,908,387.65 yuan, a 6.78% increase year-over-year, with R&D investment accounting for 8.47% of total revenue[36] - The company is developing a new generation of 650V/750V, 400-820A automotive IGBT modules, with 2 products in small-scale supply and 6 in mass production[39] - A 750V/1200V IGBT module project for electric vehicles is underway, with 3 chips in development and 2 modules undergoing customer testing[39] - The company is working on customized IGBT modules for photovoltaic inverters, with 4 products in development and 9 in mass production[39] - A 1200V, 300A-600A SiC MOSFET module for new energy vehicles is in client certification and process debugging stages[40] - The CoolPack SSC product development for hybrid vehicles is in the P4 phase, with small-batch trial production and optimization underway[40] - Research on three-level power module technology for photovoltaic and energy storage applications has achieved preliminary results in electromagnetic simulation and large-area plastic packaging[40] - The company has developed and mass-produced a high-power density FRD chip with HV-H3TRB capability for photovoltaic applications, with one product under customer validation and another under full machine validation[41] - The company is developing 8 new IGBT module products for industrial control, with 3 in process debugging and 1 in small batch supply, targeting high-voltage inverter and SVG markets[41] - A 1200V 7mΩ SiC module is under development for industrial control applications, aiming for mass delivery[41] - The company is developing 1200V 20A SBD and 1200V 40mΩ/13mΩ SiC MOSFET chips, with some products in customer testing and others completing design and process verification[41] - A 1200V/1-2mohm direct SiC module product is under development for new energy vehicle applications, with key equipment imported and debugged[41] - A 1200V/600A T-NPC module is under development for photovoltaic inverters and energy storage converters, targeting 150KW+ applications[42] - The company is developing 650V and 1200V IGBT modules for energy storage applications, with one product in small batch delivery[42] - The company has 210 R&D personnel, accounting for 18.77% of total employees, with a total R&D salary of 1,980.71 million and an average salary of 9.43 million[43] - The company successfully developed its first 1200V 40mohm SiC MOSFET chip, which has passed reliability verification[48] - The self-developed SiC SBD chip has passed reliability and system-level verification by multiple end customers, with some products already in small-scale shipment[48] - The company's R&D personnel increased by 46.85% to 210 people, with 31 holding master's or doctoral degrees, accounting for 14.76% of the total R&D staff[48] - The overall yield rate of IGBT modules improved by 1.4%, and the market failure rate decreased by approximately 5%[49] - The company has 131 patents, including 43 invention patents, 81 utility model patents, and 7 design patents[48] - The company is actively developing a 1200V 13mohm SiC MOSFET chip for automotive applications[48] - The company's 1000V M7U chip for photovoltaic applications has completed development and certification, and is now in mass production[47] - R&D expenses increased by 6.78% to 53,908,387.65 yuan, reflecting continued investment in technology development[59] - R&D expenses for the first half of 2024 were 51,162,562.81 RMB, slightly up from 50,484,395.49 RMB in the same period last year[148] Market and Industry Trends - The company plans to expand its production capacity by 20% in the next fiscal year to meet increasing market demand[11] - Market share in the domestic IGBT sector increased to 18.5%, up from 16.2% in the previous year[11] - The company is exploring strategic partnerships with international semiconductor manufacturers to enhance its global presence[11] - A new production line for FRD (Fast-Recovery Diode) products is expected to be operational by Q1 2025[11] - The company's products cover over 300 types of IGBT, FRD, and MOSFET chips and single-tube products, and over 600 types of modules[20] - The company's products are widely used in industrial control, new energy power generation, and new energy vehicles[20] - The company's IGBT and FRD chips and modules are key components in strategic emerging industries, emphasizing the importance of domestic production[20] - The power semiconductor market is projected to grow from $41.81 billion in 2023 to $49.23 billion by 2028, with a CAGR of 3.66%[24] - Power ICs dominate the power semiconductor market with a 54.3% share, followed by MOSFETs at 16.4%, power diodes at 14.8%, and IGBTs at 12.4%[24] - The company focuses on IGBT and SiC technologies, with IGBTs historically dominated by foreign companies like Infineon, Mitsubishi, and Fuji Electric[23] - SiC power devices are gaining traction in applications such as new energy vehicles, photovoltaics, and data centers, with international leaders like Wolfspeed and STMicroelectronics leading the market[23] - China's new energy vehicle production and sales in June 2024 reached 1.003 million and 1.049 million units, up 28.1% and 30.1% YoY respectively, with a market share of 41.1%[25] - Domestic sales of new energy vehicles in June 2024 were 963,000 units, up 12.5% MoM and 32.2% YoY[25] - Overseas exports of new energy vehicles in June 2024 were 86,000 units, down 13.2% MoM but up 10.3% YoY[25] - Total new energy vehicle production and sales in H1 2024 reached 4.929 million and 4.944 million units, up 30.1% and 32% YoY respectively, with a market share of 35.2%[25] - Domestic sales of new energy vehicles in H1 2024 were 4.339 million units, up 35.1% YoY[25] - Overseas exports of new energy vehicles in H1 2024 were 605,000 units, up 13.2% YoY[25] - Public charging piles in China increased by 72,000 units in June 2024, up 45.3% YoY, with a cumulative total of 3.122 million units by June 2024[25] - Domestic photovoltaic installed capacity in H1 2024 reached 102.48GW, up 30.68% YoY, with centralized photovoltaic power stations at 49.6GW, up 32.41% YoY[26] - Inverter exports in H1 2024 totaled 25.1934 million units, with export value of $4.005 billion, down 34.86% YoY, but showing signs of recovery with June exports up 19.98% YoY[26] - The company's new energy vehicle and charging pile power semiconductor module products include IGBT, FRD, and the latest third-generation semiconductor material SiC MOS modules[78] - The company faces risks from intense competition in the semiconductor industry, particularly from international leaders like Infineon and STMicroelectronics[54] - Macroeconomic fluctuations could impact key sectors such as industrial control, new energy power generation, and new energy vehicles, affecting the company's sales and profits[55] - Fixed asset depreciation risks are increasing as new projects come online, potentially impacting profitability if industry conditions remain weak[58] Production and Operations - The company's gross profit margin improved to 32.5%, up from 30.8% in the previous year[11] - The company's procurement model involves ordering based on sales forecasts or orders, with direct materials purchased through the ERP system and temporary materials through the OA system[21] - The company employs a "make-to-order" production model, with production plans formulated by the operations office based on market demand, raw material supply, and capacity[21] - The company's sales strategy is primarily direct sales, supplemented by distribution, leveraging marketing teams, industry exhibitions, and academic conferences to promote products[21] - The company has a comprehensive product portfolio, including over 300 types of IGBT, FRD, and MOSFET chips and over 600 types of modules, covering a wide range of current and voltage specifications[45] - The company has established strong relationships with key customers in industrial control, new energy power generation, and new energy vehicle sectors, including BYD, Sungrow, and Delta Group[45] - The company's wastewater treatment facilities include pre-treatment and secondary alkaline spray devices, with a design scale of 1 (pre-sedimentation + sedimentation coagulation) and 2 (sedimentation + nitrification, denitrification + secondary sedimentation + sedimentation coagulation)[73] - The company's exhaust gas treatment facilities include activated carbon adsorption/desorption and catalytic combustion, with emissions through a 15m high exhaust pipe[73] - The company's noise control measures include sound insulation, distance attenuation, and reasonable layout, achieving standard emissions[73] - The company's solid waste management includes a hazardous waste storage room of 40m² and a general solid waste storage room of 20m²[73] - The company installed a

证券代码：688711 证券简称：宏微科技 转债代码：118040 债券简称：宏微转债 江苏宏微科技股份有限公司 投资者关系活动记录表 （2024 年 6 月 19 日至 2024 年 7 月 18 日） 编号：2024-004 | --- | --- | --- | --- | --- | |-----------------------------|-------------------------|-----------------------------------------------------------------------------------------------------|-------|-------| | | | | | | | | | | | | | | ☐ 特定对象调研 | ☐ 分析师会议 | | | | 投资者关系活动类别 | ☐ 媒体采访 | ☐业绩说明会 | | | | | ☐ 新闻发布会 | ☐ 路演活动 | | | | | | 现场参观 电话会议 | | | | | ☐ 其他 | | | | | 参会机构 | | 西南证券、东吴电子、华鑫电子、长信基金、西部证 ...

证券代码：688711 证券简称：宏微科技 转债代码：118040 债券简称：宏微转债 江苏宏微科技股份有限公司 投资者关系活动记录表 （2024 年 6 月 13 日至 2024 年 6 月 18 日） 编号：2024-003 ☐特定对象调研 ☐分析师会议 ☐媒体采访 ☐业绩说明会 投资者关系活动类别 ☐新闻发布会 路演活动 现场参观 电话会议 ☐其他 华福电子科技 徐巡；中银基金 李佳勋；汇添富基金 韩政沅；中欧基金 参与单位名称及人员 张一豪；格行资产 阳俊雄；银河证券 王韬杰；五矿期货 陈明；周立 姓名 虎；英大信托 周俊；英大信托 徐天娇；长江证券 钟智铧 时间 2024年6月13日-2024年6月18日 地点 江苏宏微科技股份有限公司新竹厂四楼会议室；上海 上市公司接待人员姓 董事会秘书 丁子文；董事会秘书助理 马君 ...

证券代码：688711 证券简称：宏微科技 转债代码：118040 债券简称：宏微转债 江苏宏微科技股份有限公司 2024 年 6 月 12 日投资者关系活动记录表 编号：2024-002 ☐特定对象调研 ☐分析师会议 ☐媒体采访 ☐业绩说明会 投资者关系活动类别 ☐新闻发布会 ☐路演活动 现场参观 ☐电话会议 ☐其他 参与单位名称及人员姓名 德邦电子团队：仇方君、陈蓉芳、陈瑜熙 时间 2024年6月12日 地点 江苏宏微科技股份有限公司新竹厂四楼会议室 上市公司接待人员姓名 董事会秘书 丁子文、董事会秘书助理 马君 投资者关系活动主要内容 1.公司产品降价幅度 介绍 从前五大客户看，总体上，价格相对稳定；首先，光伏价格波动 不大，相对稳定，主要受产能、订单、去库存影响；其次，工控 ...

公司 23 年扣非归母净利润同比增长 67%，一季度盈利能力短期承压。受益 于新能源需求增长，公司 23 年实现营收 15 亿元(YoY+62.5%)，归母净利润 1.2 亿元(YoY+47.6%)，扣非归母净利润 1 亿元(YoY+66.9%)，毛利率 22.2%(YoY+1.3pct)。进入 1Q24，受光伏需求疲软及汽车产品价格调整等影 响，公司 1Q24 营收 2.46 亿元(YoY-25.59%，QoQ-33.3%)，归母净利润-0.02 亿元(YoY-105.6%，QoQ-105.6%)，扣非归母净利润-0.05 亿元(YoY-118.5%， QoQ-127.9%)，毛利率 15.9%(YoY-3.6pct，QoQ-8.7pct)，盈利能力短期承压。 芯片技术持续突破，模块产品丰富度提升。公司保持较高水平的研发投入（23 年研发费用率 7.18%），在芯片技术方面，750V IGBT 和 FRD 芯片已完成车 规认证，工控和光伏用 12 寸 1200V M7i 芯片已完成验证，自研 SiC SBD 已 送样。在模块技术方面，公司光伏用 400A/650V 三电平定制模块已批量交付， 车用 400- ...

那宏威科技的话一直是我们非常深度跟踪、紧密推荐的一家公司那我们看好公司包含在大客户、下游应用领域包含像汽车、光伏甚至工业这几块持续的一个突破包含在下一代的一些工具器件的发展像碳化硅进一步的一个研发以及推出 那今天我们非常荣幸邀请到宏威科技的董秘助理马总以及投观部的李总参会那会议开始的话我们先请马总大概介绍一下公司的一个近况以及对于二季度的一个展望那后面的话我们会开放给各位投资者进行提问那麻烦马总好的陈总各位投资者大家好首先非常感谢大家长期对宏威科技的关注与支持 我是宏威科技的董事助理马军今天参会的还有我们董办的同事李田田和黄河我首先介绍一下宏威最近的一个情况那么宏威科技在23年还是经历了一个比较丰满硕果累累的一年在总共23年相对行业景气度在下行的这么一年宏威的 业绩还是得到了市场的验证整个23年的营收是15.05亿同比增长了62.48%那么规模是1.16亿同比增长了47.63%那么24年一季度因为整个受下游宏观环境的一个影响整个大的下游都在 经历一个这个去库的这么一个阶段那相应的提货的速度呢发生了这个一定的这个放缓那么一季度呢宏威的营收是2.46亿同比呢有一个下降的幅度但是在从四月份开始那么整个的行业呢都在起 ...