WINGTECH(600745)2024-11-12 08:43Group 1: Semiconductor Business Strategy - The semiconductor business revenue increased from over 2 billion since the acquisition in 2021, driven by stable products and market structure in medium and low voltage power devices [1]. - The company is expanding its product line from low voltage to high voltage and from power to analog products, with successful mass production of GaN, SiC, and IGBT high voltage products [1]. - Future growth in the semiconductor business is expected to come from higher ASP products, potentially leading to several times increase in revenue [1]. Group 2: Automotive Semiconductor Market - Approximately 60% of the semiconductor business revenue comes from the automotive sector, with nearly 100 new automotive semiconductor products introduced each year [1]. - The company has seen rapid growth in domestic market share, while maintaining a steady increase in overseas sales [2]. - The trend of increasing semiconductor usage in electric vehicles remains unchanged, contributing to revenue growth [2]. Group 3: Product Integration Business - The product integration business experienced a significant reduction in losses, narrowing to under 300 million in Q2 2024 [2]. - The company is optimistic about returning to profitability in this segment through improved management and cost reduction efforts [2]. Group 4: Convertible Bond Strategy - The company adjusted the conversion price of its convertible bonds to optimize its capital structure and benefit both stock and bond investors [2]. - Management is confident in the company's clear business logic and future development direction, aiming to promote the conversion of convertible bonds [2]. Group 5: Capacity Expansion and Cost Optimization - The semiconductor business maintains a global layout with wafer fabs in Germany and the UK, and packaging/testing facilities in China, Malaysia, and the Philippines [2]. - The company is upgrading its production capacity, including converting some 6-inch lines to 8-inch and automating processes to enhance efficiency [2]. - The new wafer fab under construction is expected to significantly contribute to local production capacity and technology upgrades [2].