United Nova Technology (SH:688469)2023-11-06 09:54Financial Performance - In the first three quarters of 2023, the company achieved total revenue of 3.832 billion CNY, a year-on-year increase of 21.26% [1] - Main business revenue reached 3.749 billion CNY, with a year-on-year growth of 45.52% [1] - EBITDA for the first three quarters was 862 million CNY, up 74.38% year-on-year [1] - In Q3 2023, revenue was 1.311 billion CNY, reflecting a year-on-year increase of 16.15% [1] - EBITDA for Q3 was 454 million CNY, with main business revenue at 1.267 billion CNY, a significant year-on-year growth of 115.36% [1] SiC Business Development - The SiC business is rapidly developing, with monthly shipments of SiC MOS reaching 4,000 pieces of 6-inch wafers by September, 90% of which are used for automotive main drive inverters [2] - The latest generation of high-performance SiC MOS has been released and is at a globally advanced performance level [2] Production Capacity - The company maintains an 8-inch silicon-based monthly production capacity of 170,000 pieces [2] - SiC MOS production has increased from 2,000 pieces per month in June to over 4,000 pieces per month by September [2] Cost Control Measures - The company has established a cost committee and set ambitious cost targets, achieving a 91% completion rate of its cost reduction goals by June 2023 [3] - A total of 37 major projects and 64 improvement projects have been initiated to optimize processes and reduce waste [3] Market Position and Future Outlook - The company is optimistic about the growth of the new energy vehicle market, driven by increasing global demand and domestic substitution needs [2] - The company aims to maintain its technological leadership and enhance customer loyalty through collaborative R&D efforts [2] IGBT Production - The company has achieved an 8-inch IGBT production capacity of 80,000 pieces per month, making it the largest domestic production base for automotive-grade IGBT [5] - IGBT products are being supplied to several mainstream domestic new energy vehicle manufacturers [6]