Accotest(688200) 新浪财经·2025-04-25 06:38Core Insights - The company has established itself as a leading semiconductor testing equipment supplier in China, with nearly 30 years of industry experience and a consistent sales gross margin above 70% [1] - The company's STS8300 product has entered a growth phase, with significant year-on-year shipment increases and a successful customer ecosystem development [1][2] - The semiconductor industry is expected to recover in 2024, with global sales projected to reach $621 billion, driven by AI, electric vehicles, consumer electronics, and IoT [2] Company Developments - The STS8200 testing system has gained numerous high-quality domestic and international clients, positioning it strongly in the power testing sector for the foreseeable future [2] - The STS8300 model targets discrete devices and power chips, entering a volume production phase as the ecosystem matures [2] - The STS8600 product has broken the foreign monopoly in the high-end testing machine sector, addressing the low domestic replacement rate in the semiconductor testing equipment market [3] Market Trends - The domestic semiconductor design companies are experiencing rapid growth, leading to increased testing demand that is expected to outpace global market growth [2] - The urgency for domestic replacement in the SoC testing machine market is rising due to the growth in AI-driven SoC chip demand and the emergence of local IC design firms [3] - The company forecasts revenue of 1.202 billion, 1.518 billion, and 1.875 billion yuan for 2025-2027, with corresponding net profits of 503 million, 648 million, and 866 million yuan, indicating a strong growth trajectory [3]