Thinkon Semi(SH:688233)2024-10-30 10:19Group 1: Financial Performance - The company's Q3 2024 revenue reached 88.89 million yuan, a year-on-year increase of approximately 120.32% and a quarter-on-quarter increase of about 32.87% [2] - Cumulative revenue for the first three quarters of 2024 amounted to approximately 214 million yuan, reflecting a year-on-year increase of about 79.65% [2] - The net profit attributable to shareholders for Q3 2024 was 22.72 million yuan, marking the third consecutive quarter of profitability, with a total net profit of approximately 27.49 million yuan for the first three quarters [2] Group 2: Market and Industry Trends - The semiconductor industry is gradually recovering from a low point, driven by increasing customer demand and a growing domestic semiconductor supply chain [2] - The current market competition is characterized by high capital, technical, and market barriers, with no significant changes in the number of domestic manufacturers of semiconductor-grade large-diameter silicon materials and silicon components [3] - The semiconductor industry's upward trend is primarily driven by substantial investments from downstream enterprises rather than traditional consumer electronics [3] Group 3: Business Growth and Strategy - The growth in the silicon components business is attributed to sales to domestic markets, particularly to plasma etching machine manufacturers and integrated circuit manufacturers [2] - The company has a unique integrated capability in "materials + processing," providing strong control over quality, cost, and R&D, which contributes to its long-term competitive advantage [3] - The management will closely monitor downstream demand changes to consolidate its existing advantages in the current structural market conditions [4] Group 4: Future Outlook - The global semiconductor sales are projected to grow by 20% in 2024, with a more modest growth of 10% when excluding bulk memory chips, and only 3% when excluding AI-related products [3] - The company is expected to benefit from both domestic and international investment drivers, with its large-diameter silicon materials business tapping into overseas markets and its silicon components business focusing on local market expansion [3]