露笑科技技术领跑连续3年研发费过亿 攻大尺寸赛道12英寸碳化硅获突破

Core Viewpoint - Loushow Technology is advancing its research and development of large-size silicon carbide substrates, achieving significant breakthroughs in both conductive and semi-insulating types, particularly with the successful production of 12-inch silicon carbide single crystal samples [2][3][4]. Group 1: Technological Advancements - The company has made key technological breakthroughs in the development of 12-inch silicon carbide substrates, marking a transition from "following" to "running alongside" and in some areas "leading" in the industry [5]. - The successful development of 12-inch silicon carbide single crystal samples indicates the company's capability in large-size crystal growth, which is crucial for future competitiveness in the semiconductor industry [4][5]. Group 2: Market Outlook and Financial Performance - The company is optimistic about its revenue performance in the first half of the year, expecting significant growth compared to previous years, and is confident about sales growth in the first and second quarters of 2026 [5]. - In 2024, the company achieved a record revenue of 3.717 billion yuan, a year-on-year increase of 34.07%, and a net profit of 258 million yuan, up 97.03% [6]. - For the first three quarters of 2025, the company reported revenues of 2.761 billion yuan, a slight decline of 0.82%, while net profit increased by 5.17% to 246 million yuan [6]. Group 3: Production and R&D Strategy - The company plans to expand its production capacity, focusing on the large-scale production of 8-inch conductive silicon carbide substrates and 12-inch semi-insulating substrates to meet the growing market demand in various sectors such as electric vehicles and renewable energy [4][7]. - Since 2022, the company has consistently invested over 100 million yuan in R&D annually, indicating a strong commitment to innovation [11]. - The company has established several research platforms and has participated in the formulation of 48 national and industry standards, showcasing its leadership in technological advancements [12].