Zhejiang Jiemei Electronic And Technology (SZ:002859)2024-08-20 09:37Group 1: Company Overview and Financial Performance - In the first half of 2024, the company achieved total revenue of 839.27 million yuan, a year-on-year increase of 17.75% [3] - The net profit attributable to shareholders was 121.27 million yuan, reflecting a year-on-year growth of 20.88% [3] - The net profit after deducting non-recurring gains and losses was 118.29 million yuan, up by 19.64% year-on-year [3] Group 2: Market Trends and Demand Drivers - The growth in revenue is driven by the increasing demand in sectors such as new energy, smart manufacturing, 5G commercial technology, and AI terminal applications [3] - The company anticipates stable demand growth and plans to maintain moderate production expansion to support downstream customers [4] Group 3: Product and Margin Insights - The gross margin for electronic packaging materials, including carrier tapes and adhesive tapes, is maintained at over 40% [4] - The improvement in the gross margin of plastic carrier tapes is attributed to the higher proportion of high-end products and the integration of the production chain [4] Group 4: Production Capacity and Expansion - The current utilization rate of carrier tape products is above 80% [4] - The company is expanding its production bases in Malaysia and the Philippines, with the latter expected to begin trial production by the end of Q3 2024 [4] Group 5: Research and Development Investments - R&D expenses have increased due to investments in high-end polyester films and other electronic-grade film materials [5] - This increase is part of the company's strategy to enhance the high-end product offerings in the release film segment [5]