TKD(603738)2024-09-04 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][3] - The net profit attributable to the parent company was 57.39 million yuan, showing a year-on-year increase of 21.88% [3] - In Q2 2024, the main products generated a revenue increase of 16% quarter-on-quarter, with a non-recurring net profit growth of 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 active products has rapidly increased following expansion, with a dedicated R&D lab established for active modules [4] - The company has developed over 1,000 vehicle-grade product models, with a focus on customized solutions for automotive applications [8][9] Market Trends - The demand for quartz crystal oscillators is expected to grow due to the rise in smartphone and AI applications, leading to an overall increase in the crystal oscillator industry's operational rates [3] - The company is enhancing its product structure by increasing the capacity for active and temperature-compensated products, aiming to improve overall product compatibility [5] - The market is shifting towards technology-driven competition, with high-end product industrialization becoming a new focus for industry growth [5] Future Outlook - The company plans to maintain its market share and sales volume while enhancing delivery capabilities, particularly in the kHz product segment [5] - There is an expectation for gradual recovery in gross profit margins as operational rates improve and customer demand increases in Q4 2024 [8] - The company is strategically investing in a specialized fund with a contribution of 10 million yuan, focusing on Ethernet switch chip-related enterprises [6][7] Production Capacity - The company has increased its small-size in-line production capacity by 30 million units per month, with plans for further capacity enhancements [9] - The production capacity for TC products has been raised from 3 million to 12 million units per month, with future plans for 18 million units [9] Customer Demand - The smartphone market is seeing increased demand due to innovations in AI terminals and satellite communication features, which are expected to drive TCXO demand [9] - The module market is also experiencing growth, particularly in 5G and Wi-Fi applications, leading to increased demand for high-frequency and thermal TXCO products [9]