捷捷微电(300623) - 捷捷微电调研活动信息

Group 1: Company Overview - Jiangsu Jiejie Microelectronics Co., Ltd. specializes in the research, design, production, and sales of power semiconductor chips and devices, with a competitive IDM business system centered on advanced chip technology and packaging design [4]. - The company is positioned to capitalize on opportunities arising from the US-China trade war and the need for domestic semiconductor alternatives, focusing on MOSFET, IGBT, and third-generation semiconductor devices [4]. Group 2: Financial Performance - In Q4 2019, the company achieved record performance, with revenue exceeding 80 million, marking significant year-on-year and quarter-on-quarter growth [5]. - The company anticipates maintaining a return on equity (ROE) above 10% through ongoing projects and capacity enhancements [9]. Group 3: Impact of COVID-19 - The company experienced short-term impacts from the COVID-19 pandemic, particularly in January and February 2020, but is preparing for a return to work with safety measures in place [6][7]. - The recovery rate and operational capacity will depend on the timing of resuming production and the situation of upstream and downstream partners [6]. Group 4: Production and Capacity - The company has a two-month inventory capacity, and if production resumes effectively by the end of February, the impact of the pandemic will be limited [7]. - New production facilities are 90% complete, enhancing capacity and optimizing environmental controls compared to older facilities [11]. Group 5: Market Strategy and Client Engagement - The company is actively engaging with new clients in the telecommunications sector, including ZTE and Huawei, with ongoing orders and supply discussions [7][8]. - The Shanghai subsidiary aims to innovate in low-power, energy-efficient, and high-frequency power devices, targeting markets such as 5G, automotive electronics, and IoT [8]. Group 6: Investment and Future Outlook - The company completed a capital increase project, with 270 million allocated for production line construction and expected investments of 100 million in 2020 [9]. - The semiconductor industry faces challenges with pricing trends, but the company is confident in its long-term growth and market positioning [10][11].