晶瑞电材(300655) - 晶瑞电材调研活动信息

Company Overview - Jingrui Electronic Materials Co., Ltd. is a high-tech enterprise focused on semiconductor materials and new energy materials, with main products including high-purity chemicals, photoresists, lithium battery materials, and industrial chemicals [1]. - The company’s products are widely used in semiconductor, lithium battery, display panel, and photovoltaic solar cell industries [1]. Market Environment - In the first half of 2023, the company faced significant challenges due to a downturn in the macroeconomic environment, impacting the semiconductor industry with inventory reduction and declining production line utilization [2]. - The demand for consumer electronics such as smartphones, tablets, and personal computers weakened, leading to a global integrated circuit industry downturn [2]. - The new energy vehicle sector saw steady growth, but the market growth rate slowed, with major lithium battery materials experiencing significant price declines [2]. Financial Performance - The company reported total operating revenue of CNY 62,812.06 million, a decrease of 33.37% year-on-year [2]. - Net profit attributable to shareholders was CNY 1,071.42 million, down 87.06% year-on-year [2]. - Net profit after deducting non-recurring gains and losses was CNY 3,236.73 million, a decrease of 59.75% year-on-year [2]. Product Sales Performance - High-purity chemicals achieved operating revenue of CNY 35,784.24 million, down 16.50% year-on-year, primarily due to price declines [3]. - Sales of high-purity hydrogen peroxide reached CNY 14,461.29 million, an increase of 37.79% year-on-year, with sales volume up 41.53% [3]. - Photoresist products generated revenue of CNY 6,942.09 million, down 8.73% year-on-year, but showed improvement in the second quarter [3]. - Lithium battery materials reported revenue of CNY 12,992.32 million, a decline of 56.37% year-on-year, mainly due to price drops of core products [3]. - Industrial chemicals achieved revenue of CNY 4,101.24 million, down 58.78% year-on-year, attributed to falling prices of industrial sulfuric acid [4]. Production Capacity and Future Plans - The company’s Jiangsu Yangheng high-purity sulfuric acid phase II project has reached a usable state, with phase I production capacity still ramping up [3]. - The company is constructing a production line for high-purity chemicals at its Qianjiang base, which has begun trial production [4]. - The Meishan base has established production capacities for lithium battery materials (5,000 tons/year), high-purity hydrogen peroxide (10,000 tons/year), and key electronic materials for integrated circuits (1,200 tons/year) [4].