半导体零部件：先进陶瓷核心零部件核心与珂玛科技（附51页PPT）

Core Viewpoint - The company focuses on advanced ceramic materials and semiconductor equipment surface treatment services, with a significant growth trajectory in revenue and profitability driven by technological advancements and market demand [4][6][24]. Group 1: Business Overview - The company's main business includes the research, manufacturing, sales, and service of advanced ceramic materials and surface treatment services for semiconductor equipment, achieving a CAGR of approximately 28.61% from 2019 to 2023 [4][5]. - In the first three quarters of 2024, the company reported revenue of 620 million yuan, with 550 million yuan from ceramic components, of which 36% came from newly mass-produced modular products [4][6]. - The company has established a diversified product line, including advanced ceramic components, precision cleaning, anodizing, and thermal spraying services [4][6][24]. Group 2: Financial Performance - The company achieved a net profit of 226 million yuan in the first three quarters of 2024, marking a significant increase due to the domestic replacement of key components in semiconductor equipment [6][10]. - The gross profit margin has improved significantly, primarily due to the ramp-up of ceramic heater production [10][12]. - The gross profit margin for advanced ceramic components in the semiconductor field remained stable, while the overall gross margin for ceramic components has been affected by fluctuations in the powder grinding and classification sector [13][24]. Group 3: Market Position and Customer Base - The company has a well-diversified customer base, with no single customer accounting for more than 50% of total revenue from 2021 to 2023, indicating a stable revenue stream [17][18]. - Major clients include North China Innovation, Guangdong Hongkai, and TCL Huaxing Optoelectronics, contributing to a total of 48.07% of revenue in 2023 [18][19]. - The company maintains strong relationships with suppliers, ensuring a stable supply of raw materials necessary for production [20][21]. Group 4: Future Development and Strategy - The company plans to enhance its product offerings in advanced ceramics, focusing on key components for the semiconductor industry, including 12-inch electrostatic chucks and ultra-high purity silicon carbide kits [24][27]. - There is an ongoing effort to expand production capacity and improve efficiency through new projects, including a research center and advanced material production bases [23][24]. - The company aims to strengthen its surface treatment capabilities and expand into new markets such as medical devices, electronic communications, and renewable energy [24][27].