Silan(600460) 证券时报网·2025-01-22 14:23Core Viewpoint - The company, Silan Microelectronics, is expected to achieve a significant turnaround in its financial performance for 2024, projecting a net profit of 150 million to 190 million yuan, compared to a loss of 35.78 million yuan in the previous year, indicating a strong recovery and growth potential [1][2]. Financial Performance - The projected net profit for 2024 represents a substantial increase compared to the previous year, with a forecasted increase of 125.1 million to 165.1 million yuan, translating to a year-on-year growth of 212.39% to 280.31% [1]. - The company's fourth-quarter performance for 2024 is expected to be particularly strong, with a projected net profit of 141 million yuan, reflecting a quarter-on-quarter increase of over 162% [1]. - The net profit excluding non-recurring gains is projected to be between 184 million and 224 million yuan, significantly exceeding institutional expectations by nearly 73% [1]. Business Strategy and Outlook - The company attributes its improved performance to the introduction of competitive products, accelerated product structure adjustments, and increased production capacity in its chip manufacturing and packaging lines [2]. - Silan Microelectronics anticipates maintaining high output levels in its chip production lines in 2025, with plans for mass supply of its fourth-generation SiC MOSFET chips for electric vehicle applications [2]. - The company expects further improvement in its overall gross profit margin in 2025, indicating a positive long-term outlook [2]. Market Position and Growth Potential - Over 75% of the company's sales revenue in 2024 is expected to come from high-barrier markets such as large home appliances, communications, industrial applications, new energy, and automotive sectors [3]. - The company is positioned to benefit from supportive national policies and rapid growth in downstream industries, including electric vehicles and new energy, which are driving the domestic chip replacement process [3]. - Institutional forecasts suggest that Silan Microelectronics will see revenue exceeding 12.7 billion yuan in 2024 and 14.3 billion yuan in 2025, with year-on-year growth rates of 16.93% and 12.52%, respectively [3].