JHM(SH:603078)2024-03-26 09:35Group 1: Financial Performance - In 2023, Jianghua Microelectronics achieved a revenue of 1.03 billion CNY, representing a year-on-year increase of 9.66% [2][5] - The semiconductor business contributed significantly to revenue growth, with a 5.6% increase in sales [2][5] - The net profit for Q4 2023 was 6.73 million CNY, primarily affected by deferred tax asset adjustments due to a change in tax rates [2][3] Group 2: Production Capacity and Utilization - Jianghua Micro has a total production capacity of 235,000 tons/year, with specific capacities of 58,000 tons/year in Zhenjiang and 87,000 tons/year in Sichuan [3][4] - The utilization rate for the Jiangyin base is approximately 93.16%, while the Zhenjiang base is at 20.79% [3][4] - Future plans include increasing production capacity by 70,000 tons/year through ongoing projects [3][4] Group 3: Research and Development - In 2023, R&D expenses amounted to 59.73 million CNY, accounting for 5.80% of total revenue [4] - Jianghua Micro has established a strong R&D team with 62 personnel, including 1 professor and 3 senior engineers [4] - The company has developed over 100 new products and technologies, achieving significant breakthroughs in semiconductor product development [4] Group 4: Market Trends and Industry Characteristics - The wet electronic chemicals industry is characterized by a wide variety of products and high technical barriers [6] - The market demand for wet electronic chemicals in China reached 3.07 million tons in 2023, with a year-on-year growth of 16.71% [6][7] - The market for wet electronic chemicals is expected to grow to 4.60 million tons by 2025, indicating strong future growth potential [6][7]