Di Yi Cai Jing·2025-05-09 02:45Core Viewpoint - Company faces challenges in visibility for the second half of the year, particularly in the latter half of Q3 and towards year-end due to production fluctuations and unexpected events impacting revenue guidance [1][5] Financial Performance - In Q1 2025, the company reported revenue of 16.301 billion yuan, a year-on-year increase of 29.4% [2] - Net profit attributable to shareholders was 1.356 billion yuan, up 166.5% year-on-year, with a non-GAAP net profit of 1.17 billion yuan, an 88% increase [2] - Basic earnings per share were 0.17 yuan, compared to 0.06 yuan in the same period last year [2] Revenue Composition - Wafer business accounted for 95.2% of total revenue, an increase of 2.2 percentage points year-on-year [2] - Revenue from consumer electronics made up 40.6% of wafer income, followed by smartphones at 24.2% and computers/tablets at 17.3% [2][3] Production and Capacity - In Q1, the company sold 2.2922 million wafers, up from 1.7949 million in the same period last year [3] - Monthly capacity at the end of Q1 was equivalent to 973,300 8-inch wafers, with a utilization rate of 89.6%, an increase of 8.8 percentage points year-on-year [3] Regional Revenue Distribution - Revenue from China accounted for 84.3% of total revenue, a year-on-year increase of 2.7 percentage points [4] - Revenue from the U.S. decreased to 12.6%, down 2.3 percentage points year-on-year, while revenue from the Eurasian region fell to 3.1%, down 0.4 percentage points [4] Future Guidance - The company provided guidance for Q2, expecting a revenue decline of 4% to 6% quarter-on-quarter, with gross margin projected between 18% and 20% [4] - Management noted positive signals of recovery in industrial and automotive sectors, with a focus on localizing supply chains and increasing domestic wafer demand [4]