Piotech (SH:688072)2024-09-20 07:36Group 1: Financial Performance - In the first half of 2024, the company saw a significant increase in new signed sales orders and shipment amounts, with a year-on-year increase of 146.5% in shipment value, totaling 3.249 billion CNY [5] - The gross profit margin for the first half of 2024 was 47.05%, slightly down from the same period in 2023, primarily due to the increasing proportion of new products in revenue [7] - The company expects R&D expenses to remain above 20% of operating revenue in 2024, reflecting a commitment to continuous innovation [7] Group 2: Product Development and Market Expansion - The company has successfully launched new products, including ultra-high aspect ratio trench filling CVD and PECVD Bianca equipment, with over 50% of shipments in the first half of 2024 being new products [5][6] - As of the end of the first half of 2024, the company had shipped over 1,940 reaction chambers, entering more than 70 production lines [5] - The company established a wholly-owned subsidiary in Japan in 2024 and is actively expanding into other overseas markets [7] Group 3: Order and Revenue Outlook - The company maintains an optimistic outlook for new signed orders and operating revenue for the third quarter and the entire year of 2024, based on client validation and demand forecasts [4] - The product structure in new signed orders remains dominated by PECVD products, although the share of ALD, SACVD, and HDPCVD products is gradually increasing [4]