Core Viewpoint - The company, Jiao Cheng Ultrasonic (688392), has shown significant growth in its first quarter of 2025, with a notable increase in revenue and net profit, driven by a favorable product mix and strategic market expansions. Financial Performance - In Q1 2025, the company reported a revenue of 148 million yuan, representing a year-on-year increase of 22.35% [12] - The net profit attributable to shareholders reached 23.63 million yuan, a staggering increase of 2152.47% year-on-year [12] - The gross profit margin for the first quarter was 64.91% [12] Product and Market Insights - The increase in gross margin is attributed to a shift in product mix, with higher-margin products like wire harness connectors and semiconductor equipment gaining a larger share of revenue [2] - The primary revenue sources in Q1 2025 were ultrasonic equipment for wire harness connectors, new energy battery applications, and accessory business [3] - The company is optimistic about the wire harness connector and semiconductor sectors, expecting continued high demand due to established technology and market presence [4] Advanced Packaging and Medical Sector Developments - The company has made progress in the advanced packaging sector, with its advanced wafer ultrasonic scanning microscope receiving validation orders from well-known industry clients [5] - In the medical field, the company is advancing its ultrasonic dental equipment, which is expected to achieve sales within the year [6] Production Capacity and Expansion Plans - The company is currently operating at full capacity and is expanding production through the acquisition of precision manufacturing equipment [7] - Plans for overseas market expansion are underway, particularly targeting Europe with established products like ultrasonic equipment for wire harnesses and semiconductors [8] Strategic Collaborations - The company has signed a cooperation agreement with Shanghai Jiao Tong University to establish a joint laboratory focusing on advanced packaging and intelligent robotics, aiming to break foreign technology monopolies [11] Market Outlook - The company’s ultrasonic welding equipment in the power semiconductor sector is projected to see an annual market demand increase of approximately 500 to 1,000 million yuan [10] - The company is also exploring new applications for ultrasonic technology in aerospace and composite materials [11]

Core Viewpoint - The company has shown significant growth in its accessory segment, particularly in ultrasonic equipment related to new energy batteries, and is expanding its product offerings in advanced packaging and semiconductor fields [2] Group 1: Financial Performance - In 2024, the company's accessory revenue reached 184 million yuan, representing a 70.45% increase year-on-year [2] - The company has achieved substantial revenue growth in the wire harness connector and semiconductor ultrasonic equipment sectors due to long-term validation of its technology and product performance [2] Group 2: Product Development and Market Position - The company has received verification orders for its advanced wafer ultrasonic scanning microscope from well-known industry clients, positioning it against competitors like Germany's PVA [2] - The company is actively developing ultrasonic equipment for advanced packaging, including ultrasonic die bonding machines, and is focused on expanding its product range in response to market demand [2] Group 3: Capacity Expansion and Future Plans - The company plans to expand its production capacity by acquiring precision manufacturing equipment based on order conditions [2] - Future investments will focus on the semiconductor and medical fields, particularly in advanced packaging ultrasonic equipment and new ultrasonic medical device development [2] Group 4: Technological Innovation - The company has built a unified technology platform that integrates various technical resources, enabling rapid expansion into different product series for new energy, semiconductor, and medical applications [2]