Industry Performance Differentiation In The First Half Of The Year

Thirty-nine A-share listed semiconductor companies have disclosed their 2023 interim performance forecasts.Among them, thirty companies are expected to make profits, nine are expected to lose money, and pre-profit companies account for more than 70%.Specifically, the performance of eight companies is expected to increase, twenty one companies will reduce their performance, eight companies will make their first losses, one company will turn losses, and one company will increase their losses.

Most of the companies whose net profit is expected to increase year-on-year are semiconductor equipment. Many equipment companies are expected to increase their net profits. For example, China Microelectronics expects its net profit attributable to its parent company to increase by 109.49%-120.18% year-on-year in the first half of the year. The company said that during the reporting period, the market share of key customers of the company's etching equipment continued to increase. In addition, Wanye Enterprise expects that the net profit attributable to the parent company in the first half of the year will increase by about 316% year-on-year, and the revenue from equipment manufacturing business will increase by about 18% year-on-year.

Li Keyi, chief expert of Yuanhe Semiconductor Technology Co., Ltd., told the "Securities Daily" reporter that there are still demand gaps in key links such as semiconductor equipment and materials, and relevant listed companies are expected to continue to benefit. Most of the listed companies with relatively mature core technologies and innovation capabilities have leading advantages in the industrial chain and strong anti-risk capabilities. In the long run, semiconductor companies still need to master core technologies to enhance their voice.

The listed companies with pre-decreased net profits are mainly concentrated in SoC chip research and development, IC design (integrated circuit design), packaging and testing and other fields, and most of their cutting-edge technology project development and research are in the early stage of investment.

GigaDevice, Shanghai Belling and other sub-industry leaders all predict that the net profit in the first half of the year will decline by more than 50%. The demand in the consumer electronics market was lower than expected, and product sales prices were under pressure, which became an important reason for affecting the company's performance. Huatian Technology, a leader in semiconductor packaging and testing, expects its net profit to drop by 86.38%-90.27% in the first half of the year. The company bluntly stated that during the reporting period, the demand for products in the terminal market declined, and the company's orders were not full.

Song Jia, Director of the Collaborative Innovation Center for the Integration of Industrialization and Industrialization of the Machinery Industry Economic Management Research Institute, said in an interview with a reporter from the Securities Daily: "As the consumer electronics industry still needs to recover, the performance of semiconductor companies may continue to be under pressure in the second half of this year.However, with breakthroughs in manufacturing processes and unabated capital enthusiasm, we are still optimistic about the development of the industrial chain and investment opportunities brought about by the localization of semiconductor equipment in the long run. "

"In the past year, the global semiconductor market has experienced a cyclical decline. At present, the terminal market has not yet fully recovered. The turning point of the semiconductor industry may be delayed until next year. However, with the gradual release of inventory pressure of semiconductor companies and the recovery of demand, market confidence will continue to boost .” Angel investor and well-known Internet expert Guo Tao thinks.

At the same time, the localization process of all links in my country's semiconductor industry chain is also speeding up, and enterprises in the equipment link have maintained counter-cyclical rapid growth.

"Currently, there are huge opportunities for localization in multiple subdivisions of the semiconductor industry. At the same time, large-scale models, unmanned driving and other applications are accelerating their large-scale implementation, which will also push the semiconductor industry to enter a stage of rapid growth in the next few years.Driven by artificial intelligence technology, digital chips, semiconductor equipment, and packaging and testing have become important directions for institutions to increase positions, and market investment activity has increased. "Chen Jia, a researcher at the International Monetary Institute of Renmin University of China, believes.

In this context, listed companies in the semiconductor industry chain that seize development opportunities are expected to continue to benefit.

An Guangyong, an expert from the Credit Management Committee of the Quanlian Mergers and Acquisitions Association, suggested that relevant listed companies should diversify their supply chains, increase investment in research and development of new technologies, and establish effective management mechanisms for cost control and other aspects. Relevant departments should also continue to provide policy support and financial guidance to provide a good development environment for listed companies.