捷捷微电(300623) - 捷捷微电调研活动信息

Financial Performance - The company achieved a revenue of 1,010.90 million yuan in 2020, a year-on-year increase of 49.99% [5] - Main business revenue was 994.67 million yuan, up 50.95% year-on-year [5] - Net profit attributable to shareholders was 283.49 million yuan, reflecting a growth of 49.45% compared to the previous year [5] - The gross profit margin improved, with the main business primarily consisting of thyristors and protective devices, accounting for over 80% of total revenue [7] Business Structure and Market Position - The company operates primarily in the IDM (Integrated Device Manufacturer) model, with IDM revenue accounting for approximately 80% of total revenue [5] - Thyristors represent 42% of total revenue, diodes 38% (with protective devices making up 28%), and MOSFETs 20% [8] - The company is focusing on expanding its presence in the automotive electronics market, particularly for vehicle-grade products [8] Research and Development - R&D expenses reached 74.38 million yuan in 2020, representing 7.4% of revenue, with a budget of approximately 100 million yuan for 2021 [6] - The company has seen a 100% year-on-year increase in R&D expenses, indicating a strong commitment to innovation [6] - The R&D team is focused on optimizing product structure and enhancing competitive advantages [6] Market Opportunities and Challenges - The company is positioned well for domestic substitution of imports due to external factors such as the COVID-19 pandemic affecting foreign manufacturers' capacities [6] - The semiconductor industry is experiencing significant support from the government, which is beneficial for the company's growth [6] - The company is actively pursuing new market opportunities in MOSFETs and third-generation semiconductor devices [5] Future Outlook - The company plans to enhance its production capacity and efficiency through ongoing projects, including IPO and private placement initiatives [10] - There is a focus on maintaining a sustainable growth trajectory by leveraging existing business strengths and exploring new market segments [10] - The company aims to solidify its position in the power semiconductor sector and improve its product offerings in line with industry trends [10]