中微公司2024年营收同比增长近45% 刻蚀设备业务领跑市场

Company Performance - In 2024, the company achieved operating revenue of approximately 9.065 billion yuan, a year-on-year increase of about 44.73%, maintaining an average annual growth rate of over 40% for nearly four years [1] - The net profit, excluding non-recurring gains and losses, was approximately 1.388 billion yuan, representing a year-on-year growth of about 16.52% [1][2] - The company's core business, etching equipment, generated revenue of approximately 7.277 billion yuan, with a year-on-year increase of about 54.73%, and an average annual growth rate exceeding 50% over the past four years [2] Industry Overview - The global semiconductor equipment market size increased from 57.6 billion USD in 2019 to 106.3 billion USD in 2023, with a compound annual growth rate (CAGR) of 16.55% [1] - In 2024, the global semiconductor equipment market is projected to reach 117.1 billion USD, a year-on-year growth of 10.16%, while the semiconductor equipment market in mainland China is expected to reach 49.6 billion USD, growing by 35% and accounting for 44% of the global total [1] Research and Development - The company invested 2.45 billion yuan in R&D in 2024, a year-on-year increase of 94.3%, representing about 27% of its operating revenue [3] - The development cycle for new equipment has significantly shortened from 3-5 years to as little as 2 years due to high R&D investment [3] Product Development - The company is currently working on over 20 new devices across six major categories, including next-generation CCP and ICP etching equipment, LPCVD, ALD, and EPI devices [4] - The company's MOCVD equipment leads the global market, holding over 80% of the market share for gallium nitride-based LED lighting equipment [4] Market Opportunities - The global semiconductor industry is entering a new development phase driven by the proliferation of AI, cloud computing, and autonomous driving technologies, increasing the demand for core equipment such as etching and film deposition [4] - According to SEMI, the global semiconductor equipment market is expected to reach 127.5 billion USD by 2025, with a year-on-year growth of 16%, and mainland China remains the largest market [4]