In order to practice the "investor-oriented" development concept of listed companies and effectively "improve quality, efficiency and return", Qingyi Optoelectronics (688138) issued an announcement on the evening of February 7 that the controlling shareholder Hong Kong Optoelectronics proposed that the company repurchase the company's shares with its own funds. According to the announcement, the amount of share repurchase will not be less than 30 million yuan (inclusive) and not more than 50 million yuan (inclusive).
As one of the earliest and largest mask manufacturers in China, Qingyi Optoelectronics has continuously increased R&D investment and accumulated rich customer resources by establishing the "two wings" development strategy of "flat panel display mask + semiconductor chip mask" to promote each other. With the rapid development of the domestic flat panel display and semiconductor industry, the company continues to increase production capacity, focusing on the technology accumulation of mid-to-high-end masks and the upgrading and adjustment of production capacity layout.
High-precision reticles are a key element in the production of AMOLED LTPS and high-resolution TFT-LCD displays. In the context of the rapid development of the domestic flat panel display industry, mid-to-high-end display products have also driven the demand for high-precision and high-value panel masks. At present, Qingyi Optoelectronics Hefei factory focuses on improving the technology and production capacity of mid-to-high-end flat panel display masks, and successfully develops 6 generations of AMOLED medium and high-precision masks, breaking foreign monopoly and further narrowing the gap with overseas competitors. Haitong ** said in the research report that with the gradual release of new production capacity and the upgrading of product structure to the middle and high-end, it is expected that the company's flat panel display mask will maintain a revenue growth rate of about 20%-30% in the next 2-3 years, and the market share will increase steadily.
In addition, the development of the company's semiconductor chip mask business is also particularly eye-catching. According to SEMI data, the global semiconductor chip mask market size was about $5.2 billion in 2022 and is expected to reach $5.4 billion in 2023. At present, the company has realized the mass production of 180nm process node semiconductor chip masks, has achieved customer testing and certification of 150nm process node semiconductor chip masks, and is promoting the development of masks for 130nm-65nm PSM and OPC processes and the development of mask processes required for 28nm semiconductor chips. With the technical strength, scale manufacturing advantages, financial advantages and production capacity strength of the new production line accumulated in the field of reticles, Qingyi Optoelectronics is expected to further expand the semiconductor reticle market.
According to statistics, on February 7 alone, more than 200 A-share companies have proposed to repurchase shares, mainly based on confidence and value recognition for the company's future sustainable development. The announcement of the "share repurchase proposal" issued by Qingyi Optoelectronics demonstrates its determination to promote the company's reasonable return to long-term intrinsic value with "real gold". Industry insiders said that the controlling shareholder's proposal to buy back the company's shares is a clear signal that the company's current value is undervalued, which is conducive to boosting investor confidence and bringing a positive impact to the market.
Qingyi Optoelectronics said that the company has always attached great importance to the reasonable return on investment of shareholders. From 2020 to 2022, the company has implemented a total of 7203 cash dividends600,000 yuan, and the annual cash dividend ratio exceeds 30% of the net profit attributable to shareholders of listed companies in the current year.