Sou Hu Cai Jing·2025-10-16 09:41Core Viewpoint - The company, Jiao Cheng Ultrasonic (688392), is actively advancing its product offerings in the semiconductor advanced packaging sector, focusing on ultrasonic solutions and establishing significant partnerships with well-known enterprises in the industry [1][3]. Group 1: Product Development and Market Position - The company has developed a comprehensive range of ultrasonic solutions for power semiconductors, including ultrasonic terminal welding machines and ultrasonic bonding machines, which have achieved mass production [1]. - In the advanced packaging field, the company is promoting new products such as advanced ultrasonic scanning microscopes and ultrasonic die bonders, successfully securing formal orders from reputable domestic clients [1][3]. - The company is also making strides in the IC packaging sector, focusing on high-end ultrasonic die bonders and ball bonding machines to break the long-standing monopoly of foreign manufacturers [3][4]. Group 2: Technology Advantages - Ultrasonic detection technology offers significant advantages over optical and X-ray detection methods, particularly in its ability to penetrate materials and quantify internal interface defects without causing damage [2]. - The ultrasonic bonding technology enhances the reliability and efficiency of packaging processes by utilizing ultrasonic energy to facilitate atomic diffusion at the interface, resulting in stronger metal bonds compared to traditional methods [4]. Group 3: Financial Performance - For the first half of 2025, the company reported a main revenue of 323 million yuan, a year-on-year increase of 32.5%, and a net profit attributable to shareholders of 58.04 million yuan, reflecting a substantial year-on-year growth of 1005.12% [6]. - The second quarter of 2025 saw a main revenue of 175 million yuan, up 42.46% year-on-year, with a net profit of 34.40 million yuan, marking a significant increase of 718.65% [6]. Group 4: Client Base and Industry Applications - In the wire harness connector sector, the company's ultrasonic welding machines are utilized in applications such as new energy vehicles and charging stations, collaborating with notable clients like BYD and Amphenol [5]. - The company is also expanding its product offerings in the medical field, having obtained five registration certificates for ultrasonic dental medical devices, with plans for further development in mid-to-high-end applications [6].