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昀冢科技半年报:营收净利双降 电子陶瓷业务破局增长
Jing Ji Guan Cha Wang· 2025-08-13 06:52
Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, but showed signs of recovery in the second quarter, driven by strong performance in electronic ceramics and automotive electronics sectors [1][2]. Financial Performance - For the first half of 2025, the company achieved revenue of 246 million yuan, a year-on-year decrease of 17.66%, while net profit attributable to shareholders was a loss of 99.94 million yuan, widening from the previous year [2]. - Excluding the impact of the deconsolidation of Chizhou Yunsan, the revenue decline was narrowed to 8.96% [2]. - In Q2 2025, the company generated revenue of 146 million yuan, a quarter-on-quarter increase of 45.37%, reversing the downward trend from Q1 [2]. - The sales revenue from the consumer electronics business in Q2 increased by approximately 48% compared to Q1, with significant growth in core products CMI and CCMI [2]. Business Segments - The electronic ceramics business experienced a remarkable growth, with revenue rising from 12.16 million yuan in the same period last year to 66.75 million yuan, a year-on-year increase of 448.91% [3]. - The MLCC business is entering a capacity ramp-up phase, with products covering various fields including consumer electronics and automotive electronics [3]. - The automotive electronics segment achieved revenue of 38.44 million yuan, a year-on-year growth of 30.95%, with successful certifications from major clients like BYD and JAC [3]. Strategic Initiatives - The company is addressing risks related to high initial investments in MLCC projects and increasing competition in the consumer electronics market by diversifying financing methods and enhancing operational efficiency [4]. - A subsidiary, Chizhou Yunzhu, has introduced local state-owned capital to accelerate MLCC project progress, receiving an investment of 55 million yuan [4]. - The company is deepening collaborations with industry leaders and actively expanding into overseas markets to support business growth [4]. - The rapid growth in electronic ceramics and automotive electronics is helping the company build a diversified development structure, with plans to enhance product technology barriers and increase the sales proportion of new and high-margin products [4].