Leadmicro(SH:688147) Chang Jiang Shang Bao·2025-05-26 00:50Core Viewpoint - MicroNano plans to raise up to 1.17 billion yuan through convertible bonds to enhance its semiconductor and photovoltaic business, focusing on smart manufacturing and R&D expansion [1][2][4]. Fundraising and Investment Plans - The company aims to raise a total of 1.17 billion yuan, with 6.43 billion yuan allocated to the construction of a smart factory for semiconductor thin film deposition, accounting for 54.96% of the total fundraising [2][3]. - The smart factory project has a total investment of 6.7 billion yuan, with a projected internal rate of return of 23.10% and a payback period of 6.24 years, expecting annual sales of 1.565 billion yuan upon reaching full capacity [2][3]. - An additional 2.27 billion yuan will be used for the expansion of R&D laboratories, with a total investment of 4.3 billion yuan aimed at enhancing the company's R&D capabilities [3]. Financial Performance - In Q1, the company reported revenue of 510 million yuan, a year-on-year increase of 198.95%, and a net profit of 84 million yuan, a significant increase of 2253.57% [5]. - For the year 2024, the company anticipates total revenue of 2.7 billion yuan, reflecting a year-on-year growth of 198.95%, although net profit is expected to decline by 16.16% [4]. Semiconductor Business Growth - The semiconductor business achieved a revenue increase of 168% in 2024, reaching 327 million yuan, with the segment's revenue share growing from 6.87% in 2022 to 12.14% in 2024 [6]. - The company has a robust order backlog of 6.772 billion yuan in the semiconductor sector, with a year-on-year increase of 65.91% [6]. R&D and Innovation - The company has significantly increased its R&D investment, totaling 865 million yuan from 2022 to 2024, with over 60% directed towards semiconductor technology [5][6]. - In 2024, the company achieved a record number of patent applications and grants, with 49 new patents granted and a total of 178 authorized patents [6].