Core Viewpoint - Defu Technology (301511) reported significant growth in Q3 2023, with a 47.88% increase in revenue and a 128.27% rise in net profit, attributed to increased copper foil sales and improved production efficiency [1][2] Financial Performance - Q3 revenue reached 3.201 billion yuan, up 47.88% year-on-year - Net profit was 27.8879 million yuan, reflecting a 128.27% increase - Basic earnings per share were 0.0442 yuan, also up 128.24% [1] Operational Insights - The increase in revenue and profit was driven by a significant rise in copper foil sales and higher capacity utilization, leading to a decrease in unit production costs and an increase in gross margin [1] - Cash flow from operating activities for the first three quarters was -413 million yuan, a decline of 167.7% year-on-year due to increased cash expenditures on raw materials and employee compensation [1] Investment and Expansion Plans - Defu Technology signed a supplementary contract with the Jiujiang Economic and Technological Development Zone Management Committee to invest an additional 1 billion yuan in the development of specialized copper foil production facilities [2] - The project aims to enhance high-end copper foil production capacity, facilitating import substitution and industry chain upgrades [2] Acquisition Strategy - The company is pursuing overseas acquisitions, having signed a share purchase agreement with Volta Energy Solutions S.a.r.l. to acquire 100% of Circuit Foil Luxembourg S.a.r.l. for 174 million euros, with an enterprise value of 215 million euros [2] - The acquisition is part of the company's strategy to expand its market presence and capabilities in high-end copper foil production [2]
德福科技第三季度业绩大幅增长 拟加投10亿元扩产特种铜箔产能