CCTC(SZ:300408) 智通财经网·2025-12-05 13:48Company Overview - Chaozhou Three-Circle (Group) Co., Ltd. has submitted an application to list on the Hong Kong Stock Exchange, with China Galaxy International as the sole sponsor [1] - The company focuses on advanced ceramic materials and has become a global leader in the field of advanced electronic ceramic materials and components [3] Product Matrix - The company has established a core product matrix consisting of four categories: electronic and ceramic materials, electronic components, communication devices, and equipment components [3] - Key upstream materials include alumina ceramic substrates, aluminum nitride ceramic substrates, electronic pastes, and solid oxide fuel cell (SOFC) membranes [3] Market Position - The company has achieved significant competitiveness in specific segments, with a global market share of over 50% in alumina ceramic substrates by 2024 [4] - The SOFC membranes are ranked first in global market share, highlighting their importance in energy transition [4] Financial Performance - Revenue for the fiscal years 2022, 2023, and projected for 2024 is approximately RMB 5.09 billion, RMB 5.68 billion, and RMB 7.27 billion respectively [5] - Profit figures for the same periods are approximately RMB 1.51 billion, RMB 1.58 billion, and RMB 2.19 billion respectively [6] Industry Overview - The global market for advanced electronic ceramic materials is projected to grow from RMB 16.8 billion in 2020 to RMB 22.1 billion by 2024, with a compound annual growth rate (CAGR) of 7.1% [8] - The market is expected to further expand to RMB 42.2 billion by 2030, with a CAGR of 11.8% from 2025 to 2030 [8] Competitive Landscape - The global alumina ceramic substrate industry is highly concentrated, with the top four companies holding approximately 97% of the market share by 2024 [10] - The company holds about 52% of the global market share in alumina ceramic substrates, maintaining its position as the industry leader [10] Future Outlook - The demand for core ceramic electronic components is expected to rise, with the market size projected to grow from RMB 136 billion in 2020 to RMB 167.3 billion by 2024, reflecting a CAGR of 5.3% [11] - The MLCC market is anticipated to grow significantly, driven by increasing demand in high-end applications such as communication and AI [11]