PhiChem(SZ:300398)2024-04-30 08:51Financial Performance Overview - In 2023, the company achieved a revenue of approximately CNY 2.729 billion, a decrease of 6.13% compared to the previous year, primarily due to fluctuations in demand in the panel manufacturing and semiconductor industries, as well as a reduction in demand for a specific pharmaceutical intermediate product [2]. - The net profit attributable to shareholders was approximately CNY 112 million, down 74.15% year-on-year. The net profit after deducting non-recurring gains and losses was approximately CNY 50.25 million, a decline of 88.53% [2]. - In Q1 2024, the company reported a revenue of approximately CNY 668 million, an increase of 11.10% year-on-year. The net profit attributable to shareholders was approximately CNY 59.84 million, a decrease of 17.31% [3]. Segment Performance - In 2023, revenue from display materials and semiconductor materials grew by 4.89% and 2.58% respectively. However, revenue from UV curing materials declined by 3.74% due to weak demand in the optical communication industry [3]. - The pharmaceutical intermediate segment saw a significant revenue drop of 56.25%, mainly due to decreased demand for a specific product [3]. - In Q1 2024, revenue from display materials and semiconductor materials increased by 17.10% and 31.60% respectively, while UV curing materials and pharmaceutical intermediates experienced declines of 13.70% and 12.70% respectively [3]. Strategic Directions - The company aims to enhance vertical integration within the supply chain and improve the self-sufficiency of core raw materials. It will continue to diversify its material offerings to strengthen risk defense capabilities [3]. - There is a focus on expanding external collaborations and enhancing research and development capabilities to broaden the company's technological scope [3]. - The company is optimistic about the growth potential in the LCD and semiconductor materials sectors, particularly with the ongoing domestic substitution trend [5]. Customer and Market Insights - The company’s liquid crystal materials are supplied to major clients including BOE, Huaxing, and AUO [6]. - The company is actively pursuing registration for its TMO photoinitiator in Europe, indicating a strategic move to expand its market presence [6].