金海通20241106

Company and Industry Summary Company Overview - Tianjin Jinhai Dong Semiconductor Equipment Co., Ltd. was established in December 2012 and focuses on the research, production, and sales of integrated circuit testing and sorting machines, positioning itself in the semiconductor and high-end equipment manufacturing industry [1] - The company aims to become a global leader in the testing and sorting industry, contributing to the development of China's semiconductor sector [1] - Jinhai Dong has developed a range of products including SEED, SARMIT, and POLY series, catering to various customer needs for chip testing and sorting [1][2] - The company's products are recognized for their advanced technical specifications, comparable to international standards, and are distributed across markets in mainland China, Taiwan, Europe, and Southeast Asia [1][2] Performance Review - For the first three quarters of 2024, the company reported a revenue of 256.33 million yuan, a decrease of 4.59% compared to the same period in 2023 [2] - Net profit for the same period was 44.93 million yuan, down 14.78% year-on-year [2] - In Q3 2024, revenue was 73.19 million yuan, reflecting an 11.24% decline year-on-year [2] - Net profit for Q3 2024 was 5.25 million yuan, a significant drop of 32.33% compared to the previous year [2] - The decline in revenue and profit was attributed to decreased sales and increased expenses, including share-based payments [2] - Management expenses increased by 14.33%, sales expenses rose by 34.39%, R&D expenses grew by 0.62%, and financial expenses surged by 63.25% year-on-year [2][3] - The company achieved a net cash inflow from operating activities of 22.43 million yuan, a recovery from a net outflow of 83.66 million yuan in the previous year [3] Development Strategy - The company maintains an international market-oriented approach, driven by technological innovation, with a long-term goal of leading the global testing and sorting industry [3] - Jinhai Dong plans to deepen its focus on the semiconductor packaging and testing industry, enhancing its independent technological innovation capabilities [3] - Future innovations will aim to expand testing temperature ranges, increase the number of testing stations, and diversify product types to meet broader testing needs [3] - The company is open to expanding its product offerings along the industry chain while solidifying its core business [3] - There is a commitment to improving management platforms, enhancing corporate management levels, and focusing on team building and talent development to boost competitiveness [4]