FAST PRINT(002436)2023-10-27 13:56Financial Performance - In Q3 2023, the company achieved revenue of 1.423 billion CNY, a slight year-on-year decrease of 2.3% [3] - The net profit attributable to shareholders was 172 million CNY, an increase of 8.43% year-on-year [3] - The company gained 146 million CNY from the sale of Harbor Electronics, Inc. [3] - The non-recurring net profit was 27 million CNY, reflecting a significant year-on-year decline of 78.96% but a quarter-on-quarter increase of 399% [3] Project Developments - The FCBGA packaging substrate project in Zhuhai aims for a production capacity of 2 million units per month, with successful trial production completed by December 2022 [4] - The Guangzhou FCBGA project plans to build a capacity of 20 million units per month, with the first phase of construction expected to complete by Q4 2023 [4] - The current yield rate during trial production of FCBGA substrates is stable, with solutions in place for core issues affecting yield [4] Capacity and Utilization - The CSP packaging substrate capacity is currently 35,000 square meters per month, with the Guangzhou base nearing full capacity [4] - The utilization rate for the Guangzhou base exceeds 50%, benefiting from a gradual recovery in industry demand [4] Testing Board Business - The semiconductor testing board business aims to establish the largest specialized testing board factory in China, with a current capacity of 2,000 square meters per month [4] - The testing board business operates on a multi-variety, small-batch, customized production model, with steady improvements in yield and delivery times [4] Market Trends and Localization - The trend towards domestic substitution in the semiconductor industry is evident, although initial replacement rates have been slow due to the industry's capability levels [5] - The company is collaborating with major clients to validate domestic equipment and materials, with a higher localization rate expected for CSP packaging substrates compared to FCBGA [5] - Core equipment and materials remain largely imported, but the industry is expected to gradually increase domestic substitution rates as capabilities improve [5]