Silan(600460)2024-04-08 16:00Financial Performance - Company's total operating revenue in 2023 was 93.3954 billion yuan, a year-on-year increase of 12.77%[25] - Company's operating profit in 2023 was -48.78 million yuan, a year-on-year decrease of 104.09%[25] - Company's net profit attributable to shareholders in 2023 was -35.79 million yuan, a year-on-year decrease of 103.40%[25] - Company's other non-current financial assets decreased by 613.1047 million yuan, impacting net profit by -452.27 million yuan[25] Revenue by Product Category - Company's IC revenue in 2023 was 3.129 billion yuan, a year-on-year increase of 14.88%[26] - Company's IPM module revenue in 2023 was 1.983 billion yuan, a year-on-year increase of 37%[26] - Company's IGBT revenue in 2023 reached 1.4 billion yuan, a year-on-year increase of over 140%[27] - Company's MEMS sensor revenue in 2023 was 286 million yuan, a year-on-year decrease of 6%[26] - LED product revenue reached 742 million yuan, a year-on-year increase of 1.28%[29] - 71% of the company's circuit and device product sales revenue comes from high-barrier markets such as large home appliances, communications, industry, new energy, and automotive[38] Production Capacity and Expansion - Company's SiC-MOSFET chip production capacity reached 6,000 6-inch wafers per month, expected to reach 12,000 wafers per month by the end of 2024[28] - Company's SiC-MOSFET based EV main motor drive modules started mass production and delivery in Q1 2024, with expected annual sales of 1 billion yuan[28] - Shilan Jike produced 464,000 12-inch chips, a year-on-year decrease of 1.28%, with revenue reaching 2.151 billion yuan, a year-on-year increase of 14.33%[30] - Shilan Jike has a monthly production capacity of 25,000 IGBT chips and is accelerating the release of automotive-grade IGBT and MOSFET chip production capacity[31] - Shilan Jixin produced 747,100 8-inch and 12-inch chips, a year-on-year increase of 14.94%, and is expanding MEMS sensor chip manufacturing capacity[32] - Shilan Integrated produced 2.2174 million 5-inch and 6-inch chips, a year-on-year decrease of 6.85%, but achieved operating profit in the second half of the year[33] - Chengdu Shilan's revenue increased by 87% year-on-year, with a monthly production capacity of 200,000 automotive-grade power modules[34] - Chengdu Jijia's revenue increased by 14% year-on-year, with an annual production capacity of 210 million power modules and 1.2 billion power devices[35] - Shilan Mingjia's revenue reached 539 million yuan, a year-on-year increase of 68%, and is accelerating the production of SiC power device chips[36] Market and Industry Trends - The number of chip design companies with sales exceeding 100 million RMB increased by 59 to 625 in 2023, a growth of 10.4% compared to 2022[92] - The total sales of the 625 companies reached 503.42 billion RMB, an increase of 9.36 billion RMB from the previous year, accounting for 87.2% of the industry's total sales[92] - 55.35% of the remaining 2,826 design companies had annual sales of less than 10 million RMB[92] - IC Insights predicts that by 2026, Chinese mainland foundries will hold 8.8% of the pure-play foundry market share, down 2.6 percentage points from the 2006 peak of 11.4%[93] Government Policies and Support - The National Integrated Circuit Industry Investment Fund Phase II was established in 2019 with a registered capital of 204.15 billion RMB[95] - The State Development Bank introduced a 250 billion RMB special loan for high-quality manufacturing development in 2020, focusing on sectors including integrated circuits and 5G[95] - The "New Era Policy" issued in 2020 includes 40 measures across eight areas to optimize the development environment for the integrated circuit and software industries[96] - The "Action Plan for the Development of Basic Electronic Components Industry (2021-2023)" aims for electronic component sales to reach 2.1 trillion RMB by 2023[96] - The "Guidelines for Accelerating the Cultivation and Development of High-Quality Manufacturing Enterprises" emphasize the importance of innovation and quality in leading manufacturing enterprises[97] - The 2021 Politburo meeting highlighted the need to support the rapid development of new energy vehicles and strengthen technological innovation and supply chain resilience[97] LED Market Challenges - LED chip prices decreased by 10%-15% year-on-year, leading to significant operating losses for subsidiaries Shilan Mingxin and Shilan Mingjia[29]