ACMSH(SH:688082) Chang Jiang Shang Bao·2025-05-06 01:03Core Viewpoint - Shengmei Shanghai (688082.SH) reported strong performance in Q1 2025, with significant growth in revenue and net profit, driven by the recovery in the global semiconductor industry and the company's technological advantages [1][2]. Financial Performance - In Q1 2025, the company achieved revenue of 1.306 billion yuan, a year-on-year increase of 41.73% [1][2]. - The net profit attributable to shareholders was 246 million yuan, up 207.21% year-on-year [1][2]. - The net profit after deducting non-recurring gains and losses was 248 million yuan, reflecting a growth of 194.14% [1][2]. - As of March 31, 2025, the company's contract liabilities amounted to 1.228 billion yuan, a year-on-year increase of 31.13% [2]. Business Strategy and Market Position - Shengmei Shanghai focuses on its core business, enhancing innovation, and accelerating global expansion to solidify its leading position in the semiconductor equipment sector [1]. - The company has diversified its product offerings, extending from cleaning equipment to seven major categories, including electroplating and advanced packaging equipment [4][5]. Research and Development - In Q1 2025, the company's R&D investment totaled 252 million yuan, accounting for 19.31% of its revenue [1][5]. - The company has a strong emphasis on R&D, with a total of 470 patents granted, including 176 domestic and 294 international patents [5]. - As of the end of 2024, the number of R&D personnel reached 931, representing 46.50% of the total workforce [4][5]. Historical Performance - From 2018 to 2024, Shengmei Shanghai's revenue grew from 550 million yuan to 5.618 billion yuan, an increase of approximately 9.2 times [3]. - The net profit attributable to shareholders rose from 93 million yuan in 2018 to 1.153 billion yuan in 2024, marking an increase of about 11.4 times [3]. - The company reported a net cash flow from operating activities of 1.216 billion yuan in 2024, the highest in its history [3].