SWEC(SH:600641) Zheng Quan Shi Bao Wang·2025-04-26 03:15Core Viewpoint - Wan Ye Enterprise reported a strong financial performance in 2024, with a revenue of 581 million yuan and a net profit of 108 million yuan, while also emphasizing its commitment to shareholder returns through cash dividends and share buybacks [1] Financial Performance - In 2024, Wan Ye Enterprise achieved an operating income of 581 million yuan and a net profit attributable to shareholders of 108 million yuan [1] - The company plans to distribute a cash dividend of 0.4325 yuan per share, totaling approximately 39.4 million yuan, and has executed a share buyback totaling 250 million yuan, bringing the total return to shareholders to 289 million yuan, which is 269.12% of the net profit [1] - For Q1 2025, the company reported a revenue of 193 million yuan, reflecting a year-on-year increase of 94.09% [1] Strategic Developments - Wan Ye Enterprise is strategically positioning itself in the semiconductor equipment sector through "external mergers and acquisitions + industrial integration" [1] - The company is accelerating the establishment of a comprehensive platform for semiconductor equipment and materials following the entry of its new controlling shareholder, Xian Dao Technology [1][4] R&D and Product Development - In 2024, the company invested 184 million yuan in R&D, marking a year-on-year increase of 13.14% [2] - Its subsidiary, Kai Shi Tong, has become a leader in the domestic ion implantation machine market, successfully developing various products and securing multiple orders from major clients [2][3] - Kai Shi Tong has achieved significant sales milestones, with over 11 clients for low-energy large beam ion implantation machines and 7 clients for ultra-low temperature ion implantation machines [2] Capacity Expansion and Supply Chain - Kai Shi Tong is expanding its production capacity with a new manufacturing base in Shanghai, aiming for an annual output of over 100 ion implantation machines [3] - The company is also establishing a testing center to enhance its supply chain resilience and accelerate the localization of components [3][5] Industry Positioning - The domestic market for ion implantation machines currently has a replacement rate of less than 10%, with the global market expected to reach 27.6 billion yuan in 2024 [3] - Wan Ye Enterprise is leveraging Xian Dao Technology's global supply chain advantages to penetrate the semiconductor materials sector, focusing on bismuth materials for various applications [4][5] - The company aims to create a resilient and diversified supply chain to support its ion implantation machine business and enhance overall equipment performance [5]