H1净利预增178%-317%！闻泰科技董事会拟引入半导体人才，增长新动能引期待

Core Viewpoint - The company, Wintech Technology, is experiencing strong growth momentum in the semiconductor industry, particularly in the automotive electrification and intelligence sectors, as evidenced by its impressive semi-annual performance forecast and strategic advancements [1] Financial Performance - The company expects its net profit attributable to shareholders for the first half of 2025 to be between 390 million to 585 million yuan, representing a year-on-year growth of 178% to 317% [2] - The expected net profit after deducting non-recurring gains and losses is projected to be between 260 million to 390 million yuan, highlighting the effectiveness of its strategic focus [2] - Cash reserves have doubled year-on-year to 9.453 billion yuan as of the end of March, while total liabilities have decreased by 8.545 billion yuan, leading to a 5.95 percentage point improvement in the debt-to-asset ratio [2] - If the restructuring is completed by early 2024, earnings per share are expected to rebound from -2.28 yuan to 1.10 yuan, indicating a significant upgrade in financial quality [2] Strategic Transformation - In a challenging geopolitical environment, the company has successfully completed a strategic transformation within six months, including asset sales and restructuring, demonstrating its commitment to corporate responsibility by ensuring the stability of over 20,000 employees and supply chains [3] - Following the divestiture of its product integration business, the company is positioned to become a rare pure automotive-grade power semiconductor IDM entity in the A-share market, with projected price-to-earnings ratios of 23, 18, and 13 for 2025-2027, significantly lower than global peers [3] Governance Upgrade - The company has revamped its board of directors to align governance structure with strategic direction, introducing experienced personnel from the semiconductor field to provide targeted strategic guidance [4] - The proposed board member, Yang Mu, has led significant acquisitions and management in the semiconductor sector, while another proposed member, Zhuang Wei, brings extensive experience in global human resource management [4] - The combination of these professionals is expected to inject strategic momentum into the semiconductor business, accelerating the realization of market expectations [4] Capital Revaluation - As the strategic transformation takes effect, the capital market is beginning to reassess the value of this semiconductor leader, with growth momentum expected to continue in the second half of the year [5] - The expansion of high-voltage power devices and analog chip product lines is anticipated to ramp up, alongside a recovery in inventory cycles among European automotive clients, creating larger market opportunities for the company's automotive-grade products [5] - The entry of key talent from Anshi Semiconductor is expected to lead the company in a new trajectory of value reassessment within the semiconductor industry, reshaping the global competitive landscape for power semiconductors [5]