JSCQ(SH:688182)2024-11-05 10:28Financial Performance - In the first nine months of 2024, the company achieved operating revenue of 269 million CNY, an increase of 2.43% compared to the same period last year [2] - The net profit attributable to shareholders was 50.04 million CNY, a growth of 68.23% year-on-year [2] - The net profit after deducting non-recurring gains and losses reached 31.10 million CNY, up 166.41% from the previous year [2] - As of the end of the third quarter, total assets amounted to 2.503 billion CNY, a 6.48% increase from the end of the previous year [2] - The net assets attributable to shareholders were 2.168 billion CNY, reflecting a growth of 1.54% [2] - The net cash flow from operating activities was 114 million CNY, a significant increase of 387.56% year-on-year [3] Product Development and Market Position - The company's latest ceramic medium filter can be widely used in sub-6GHz applications, including 4G, 5G, and 5G-A/5.5G networks [3] - The company has developed eight mature formulations of HTCC ceramic materials and is working on high thermal conductivity aluminum nitride and silicon nitride ceramic materials [5] - The company has established a complete automated production line for HTCC products, achieving extreme process capabilities suitable for high-precision manufacturing [5] - The company’s subsidiary has begun mass production of thin-film circuits and related passive devices, with some millimeter-wave thin-film passive devices already in production [6] Barriers to Entry - The electronic ceramic components industry has significant barriers to entry due to the complexity of material science, electronic technology, and production processes [4] - Key barriers include material barriers, process barriers, and innovation research and development barriers, making it difficult for new entrants to compete effectively [4][5] Project Updates - The company’s fundraising project "New Cangqin Technology Park" includes three sub-projects, with the first phase of factory buildings reaching a usable state by the end of 2023 [6] - The second phase of construction is over 60% complete, and the third phase has received a construction permit and is currently in the piling stage [6]