TKD(603738)2024-09-03 09:37Financial Performance - The company achieved a revenue of 393 million yuan in the first half of 2024, representing a year-on-year growth of 1.98% [2] - The net profit attributable to the parent company was 573.9 million yuan, with a year-on-year increase of 21.88% [3] - In Q2 2024, the main products generated a revenue increase of 16% quarter-on-quarter, and the net profit grew by 22% [3] Business Development - The company is focusing on semiconductor lithography technology development and industrialization, particularly in high-frequency and ultra-small size products [4] - The production capacity for small-sized in-line products increased by 30 million units per month, while TC products' capacity rose from 3 million to 12 million units per month [9] - The company has developed over 1,000 vehicle-grade product models, with a focus on customized solutions for automotive applications [8] Market Trends - The demand for quartz crystal oscillators is driven by the smartphone, AI, and automotive sectors, with significant growth in the crystal oscillator industry [3] - The company is enhancing its product structure by increasing the capacity for active products and temperature-compensated products [5] - The market is shifting towards technology-driven competition, with a focus on product innovation rather than just cost and scale [5] Future Outlook - The company plans to continue adjusting its product structure to enhance capabilities in emerging fields such as automotive and high-frequency communication products [5] - There is an expectation for gradual recovery in gross profit margins due to improved production rates and optimized customer and product structures [8] - The company aims to strengthen its market penetration in IoT, smart terminals, and other high-value markets [5] Investment and Risk Management - The company has invested 10 million yuan in a specialized fund, holding an 18.3453% stake, targeting Ethernet switch chip-related enterprises [6] - The company maintains close interactions with key suppliers to manage the impact of raw material price increases [7] - The company is cautious in its investment approach, ensuring thorough due diligence and risk management [7]