上海新阳(300236) - 2016年5月13日投资者关系活动记录表

Group 1: Company Core Advantages - The company has deep expertise in semiconductor manufacturing and packaging, with two core technologies: electronic plating and cleaning, possessing complete independent intellectual property rights [1] - The core technology has strong scalability, extending applications beyond traditional semiconductor packaging to wafer processing and surface treatment of components [1] - Products can replace imports, offering localization advantages with stable pricing and high gross margins [1] - The product system is comprehensive with strong compatibility, and the sales of equipment and chemical products drive each other, leading to a high market position and good reputation in the industry [1] - The company benefits from a favorable industrial policy environment, allowing access to major national science and technology projects [1] Group 2: Customer and Market Dynamics - Semiconductor manufacturers are very cautious when changing suppliers, requiring thorough assessments before establishing stable supply relationships [2] - The company typically signs long-term pricing contracts with customers, with a supply cycle of approximately 3 months; nearby customers generally place orders 2-3 times a month [2] - The top 20 customers account for about 80% of the company's total sales [2] - Compared to foreign suppliers, the company’s main advantages include localization, efficient on-site service, shorter order cycles, and competitive pricing [2] Group 3: Financial Performance and Future Growth - The decline in performance in 2015 was attributed to many new products being in the early stages of market promotion, alongside increased costs and taxes; however, sales are expected to recover in 2016 as new products gain traction [2] - The company is jointly launching a "wafer-level packaging alloy solder ball project" with a monthly production capacity of 48,000 KK, with plans to expand to five production lines within five years, increasing capacity to 120,000 KK [2] - The company’s market position in traditional semiconductor packaging is stable, while rapid growth is expected in the wafer processing sector over the next 1-2 years; advanced packaging technology may lead to significant growth in 3-5 years [3] - The company is actively pursuing new projects and products in areas such as wafer dicing blades, IC substrate chemical materials, and semiconductor wafers, which could become new growth points for long-term development [3]