Yoke Technology(SZ:002409)2024-05-20 07:18Group 1: Company Overview and Strategy - Jiangsu Yake Technology Co., Ltd. has implemented a series of acquisitions since 2016, integrating various aspects such as customers, products, and talent to form a platform company in the semiconductor materials sector [1][2] - The company has seen good development in sales revenue and profit post-acquisition, with continuous R&D and new product introductions [2] - Talent and R&D investment are crucial for the company's ongoing development, focusing on customer needs [2] Group 2: Market Position and Competition - The precursor market's growth is largely dependent on customer capacity, with significant market potential anticipated in the next two years [2] - The company holds a high market share among downstream customers, with competitive advantages in patents and technology compared to other manufacturers [2][3] - The RGB product line has gained the ability to compete with world-class RGB manufacturers, with local production initiated in Yixing [3] Group 3: Product Development and Client Collaboration - The company collaborates with clients to test and select precursor products based on specific needs, ensuring product performance stability [4] - The company’s Low-α silicon powder has been in mass production for over two years, supplying major clients like Hitachi and Sumitomo [3] - The company anticipates increased demand for silicon powder as domestic chip manufacturers expand their production capacity [3] Group 4: Financial Projections and Capacity - If fully operational, the precursor and photoresist production capacity could generate revenue between 4 billion to 5 billion [4] - Future capital expenditures will focus on new precursor products and upstream raw materials for photoresists, with similar investment levels expected for the second phase of Jiangsu Xian Ke's construction [4]