清溢光电业绩会：积极布局高端掩膜版核心技术 加速国产替代

Core Viewpoint - Qingyi Optoelectronics has demonstrated strong financial performance in 2024 and Q1 2025, with significant year-on-year growth in both revenue and net profit, indicating a robust position in the domestic mask plate industry [1][2]. Financial Performance - In 2024, Qingyi Optoelectronics achieved operating revenue of 1.112 billion yuan, a year-on-year increase of 20.35%, and a net profit of 172 million yuan, up 28.49% [1]. - For Q1 2025, the company reported operating revenue of 299 million yuan, reflecting a growth of 9.83%, with a net profit of 51.74 million yuan, an increase of 4.34% [1]. Industry Position - Qingyi Optoelectronics is recognized as a pioneer in the domestic mask plate industry, contributing to industry standards and domestic production capabilities [2]. - The company has played a crucial role in filling domestic gaps in the mask plate sector, including the establishment of the "Thin Film Transistor (TFT) Mask Plate Standard" in 2015 [2]. Business Segments - The revenue from the flat panel display mask plate business reached 859 million yuan in 2024, growing by 17.59%, with AMOLED/LTPS mask plates increasing by 21.75% [2]. - The semiconductor chip mask plate segment generated 193 million yuan in revenue, marking a 33.98% increase, driven by new equipment capacity and successful client development [3]. Market Share and Profitability - The company has gained market share in the domestic quartz and soda mask plate markets, with an overall gross margin of 29.44% in 2024, up 2.07 percentage points from the previous year [3]. - The gross margin for quartz mask plates was 28.40%, while soda mask plates achieved a gross margin of 42.72% [3]. Future Outlook - The company anticipates further capacity release with the completion of equipment installation at its Foshan production base [3]. - Qingyi Optoelectronics is actively investing in R&D for advanced mask plate technologies, including high-precision TFT and high-end phase-shifting mask (PSM) technologies, which are expected to drive future growth [4].