WINGTECH(600745)2024-09-02 07:35Financial Performance - In the first half of 2024, the semiconductor business achieved revenue of 70.4 billion CNY, with a net profit of 10.8 billion CNY, reflecting a year-on-year growth of 36.2% [2] - The gross profit margin in the second quarter increased significantly, surpassing the average level of the second quarter of 2023, with a quarter-on-quarter growth of 5.8% [2] - The net profit for the first and second quarters was 5.2 billion CNY and 5.6 billion CNY, respectively, with a 60% increase after excluding investment income [2] Market Dynamics - The semiconductor business experienced a rapid rebound starting from the second quarter of 2024, attributed to strong market demand and internal efficiency improvements [3] - The automotive sector remains a major revenue source, with 63% of revenue coming from automotive, 21% from industrial and power sectors, and 16% from consumer electronics [4] - The company has successfully expanded its market presence among leading domestic new energy vehicle manufacturers, enhancing product supply and unit value [4] Research and Development - In the first half of 2024, R&D investment in the semiconductor business was 874 million CNY, accounting for 12.36% of revenue, an increase of approximately 1.8 percentage points compared to the same period in 2023 [3] - New product developments include high ASP products in the fields of automotive, AI data centers, and power conversion, with successful mass production of SiC diodes and MOSFETs [3] Inventory and Future Outlook - The automotive market has seen a significant reduction in inventory levels, with expectations for improved semiconductor demand in the second half of the year [4] - The company anticipates a positive outlook for the product integration business, with revenue growth expected in the third quarter due to effective cost control and new project developments [6]