The market demand is strong, and power semiconductor manufacturer Yangjie Technology is accelerating its expansion pace.

Recently, Yangjie Technology announced that the company plans to invest in the construction of a 6-inch silicon carbide wafer production line project under the jurisdiction of the Hanjiang District Government, with a total investment of approximately 1 billion yuan.http://www.ic-bom.com/

The reporter noticed that Yangjie Technology is actively expanding and expanding its industrial layout. Recently, the company invested a second time in Chuwei Semiconductor and also invested $90 million to establish a Vietnamese subsidiary. In addition, it successfully issued GDR to accelerate its overseas listing on the Swiss Stock Exchange.

The global strategic layout has achieved significant results, and Yangjie Technology continues to climb new highs in performance. The company achieved revenue of 5.418 billion yuan and net profit of 1.061 billion yuan in 2022. At this point, the company‘s performance has grown for four consecutive years.

Endogenous epitaxial strengthening advantage

Yangjie Technology further expands the layout of the SiC industry chain.http://www.ic-bom.com/

On April 20th, Yangjie Technology announced that the company had signed a "Framework Contract for the Entry of 6-inch Silicon Carbide Wafer Project" with the Hanjiang District Government of Yangzhou City. The company plans to invest in the construction of a new 6-inch silicon carbide wafer production line project under the jurisdiction of the Hanjiang District Government, with a total investment of approximately 1 billion yuan. The construction will be carried out in two phases. After the project is put into operation, the production capacity of the 6-inch silicon carbide wafer will be 5000 pieces per month.

Yangjie Technology stated that if the cooperation framework contract can be implemented and implemented, it will be beneficial for the company to accelerate the improvement of the technical level of silicon carbide products and achieve product upgrades, promote the company‘s active transformation and upgrading towards high-end manufacturing, and contribute to the localization of power devices.

The reporter noticed that in China, Yangjie Technology is also actively strengthening its business layout and expanding production capacity through mergers and acquisitions. In June 2022, the company acquired 40% equity of Chuwei Semiconductor for 295 million yuan; In February 2023, the company announced its intention to acquire 30% equity of Chuwei Semiconductor to further deepen the layout of semiconductor chip production lines, with a minimum acquisition price of 294 million yuan. Currently, Chuwei Semiconductor has achieved large-scale production of 8-inch lines, with a monthly production capacity of 10000 pieces.

At the same time, Yangjie Technology has also taken frequent actions in global business development and international layout. On April 11th, the company announced that it plans to invest and establish its subsidiary, Meiweike (Vietnam) Co., Ltd. (tentative name), in Vietnam, with an investment amount of 90 million US dollars.

It is worth mentioning that on April 18, 2023, Yangjie Technology successfully issued Global Depositary Receipts (GDRs) and listed them on the Swiss Stock Exchange. The total amount raised in this issuance was approximately $215 million. After deducting relevant expenses, it will be used for the company to establish factories in Vietnam, establish research and development centers in the United States, Japan and other places, and further promote the overseas market layout.

Taking multiple measures to achieve stable profits

Yangjie Technology was established in 2000 and was first listed on the Shenzhen Stock Exchange‘s ChiNext board in 2014. The company is committed to the development of mid to high-end industries such as power semiconductor chip and device manufacturing, integrated circuit packaging and testing, and its products are widely used in various fields such as automotive electronics and new energy.http://www.ic-bom.com/

In terms of performance, Yangjie Technology has maintained stable growth in recent years. From 2019 to 2021, the company‘s operating revenue was 2.007 billion yuan, 2.617 billion yuan, and 4.397 billion yuan, respectively. The net profit was 225 million yuan, 378 million yuan, and 768 million yuan, respectively. The net profit after deduction was 209 million yuan, 368 million yuan, and 708 million yuan, respectively.

Recently, Yangjie Technology disclosed its 2022 performance report, which showed that the company achieved a revenue of 5.418 billion yuan, a year-on-year increase of 23.22%, a net profit of 1.061 billion yuan, a year-on-year increase of 38.17%, and a net profit of 981 million yuan, a year-on-year increase of 38.41%. All three main business indicators have reached new highs, and as of now, the company‘s performance has been growing positively for four consecutive years.

The reporter found that Yangjie Technology has continuously strengthened its cost control capabilities in recent years. Data shows that from 2017 to 2021, the company‘s expense rates were 17.1%, 16.4%, 16%, 15.7%, and 13.9%, respectively. The decrease was 3.2 percentage points in four years, and in the first three quarters of 2022, this data decreased to 11.5%.

At the same time, Yangjie Technology continues to increase its research and development efforts to consolidate its competitive moat. According to the financial report, from 2017 to 2021, the company‘s R&D expenses increased from 72.3163 million yuan to 242 million yuan. As of the first three quarters of 2022, R&D expenses increased by 29.01% year-on-year to 222 million yuan, accounting for 5.02% of revenue.

Taking multiple measures, Yangjie Technology‘s gross profit margin has remained stable throughout the year, reaching 36.11% in the first three quarters of 2022, with a net sales profit margin of 21.67 during the same period.http://www.ic-bom.com/