MINDEO(SZ:300656)2023-04-28 10:18Group 1: Company Overview and Recent Developments - The wafer foundry Guangxin Microelectronics is expected to officially start production on May 19, 2023, which will significantly enhance the company's power semiconductor capacity expansion [2][3] - The ultra-thin back-end foundry Chip Microtech has completed the main plant's topping-out and is expected to start production in Q3 2023 [3] - The power semiconductor design company Guangwei Integrated has successfully developed and mass-produced the 60V series SGT-MOSFET products, with 80V and 100V series expected to achieve mass production in the first half of the year [3][4] Group 2: Financial Performance - In 2022, the company achieved total operating revenue of CNY 518.1973 million, a decrease of CNY 28.09 million compared to the previous year [4] - The net profit attributable to shareholders was CNY 89.71 million, an increase of CNY 13.58 million year-on-year [4] - In Q1 2023, the company reported operating revenue of CNY 73.45 million, a decrease of CNY 14.72 million year-on-year, primarily due to reduced revenue from Taibo Xunrui [4][5] Group 3: Business Segments and Future Outlook - The power semiconductor business is expected to see significant growth following the production commencement of Guangxin Microelectronics [5][6] - The barcode recognition equipment business is projected to achieve an average annual growth of around 20% over the next five years [5] - The company plans to maintain a focus on the silicon carbide sector, with ongoing investments in key supply chain segments [6][7] Group 4: Investment and Equity Structure - The company holds a 22.0963% stake in Jingrui Electronics, which is expected to initiate an IPO this year [5][6] - Guangxin Microelectronics is a core asset for the company, with potential plans for integration into the listed company in the future [5][6] - The company currently holds a 33.33% stake in Chip Microtech, which is still in the construction phase [5][6]