PhiChem(SZ:300398)2023-10-26 11:17Financial Performance - In Q3 2023, the company's operating revenue was 70,863.04 million yuan, an increase of 19.04% compared to the same period last year [2] - The net profit attributable to shareholders was 3,600.90 million yuan, a decrease of 46.89% year-on-year [2] - The net profit excluding non-recurring gains and losses was 5,024.94 million yuan, down 29.55% from the previous year [2] - For the first three quarters of 2023, total operating revenue was 202,614.83 million yuan, a decline of 9.54% year-on-year [2] - The net profit attributable to shareholders for the first three quarters was 21,039.52 million yuan, a decrease of 34.42% compared to the same period last year [3] - The total assets at the end of the reporting period were 663,921.48 million yuan, an increase of 5.15% from the end of the previous year [3] - The equity attributable to shareholders was 391,888.04 million yuan, up 5.85% from the end of the previous year [3] Business Segment Insights - The decline in revenue and profit was primarily due to a decrease in demand for specific pharmaceutical intermediates, which had previously seen explosive growth in 2022 [3] - The company's epoxy encapsulation materials generated approximately 170 million yuan in revenue for the first three quarters of 2023, with Q3 revenue around 60 million yuan [4] - The company is focusing on high-performance packaging materials and has made progress in R&D for advanced packaging [4] Market Position and Strategy - The company is actively expanding its customer base in the semiconductor packaging sector, with a focus on high-end packaging materials [4] - The automotive coatings segment is primarily focused on interior coatings, with plans to expand into exterior coatings due to high demand [6] - The company has established a stable partnership with Longxing Chemical for resin supply, enhancing its market competitiveness [5] Future Outlook - The domestic market for liquid crystal materials has a current localization rate of over 50%, indicating potential for growth [6] - The company anticipates continued growth in the photoresist materials market due to ongoing demand and low localization rates [6] - New product developments include a next-generation photoinitiator, TMO, which has passed regulatory tests and is expected to capture market share [7]