For institutional-level investors, ** due to its large capital scale and in-depth research capabilitiesIt is often seen as a more reliable investment platform than individual investors. As a result, many people see them as an important investment reference point.
In particular, those at the national level** are often regarded as market vanes, to indicate the development prospects of specific industries. China's national congress is a typical example of this, which was specially established to promote the development of the semiconductor industry, and those companies that can be supported by the state are often in a leading position in their market segments and enjoy unique competitive advantages.
For example, companies including Changdian Technology, Tongfu Microelectronics, Jingjiawei, SMIC, Huada Jiutian and Silan Microelectronics are all companies with significant performance in the semiconductor field.
Recently, with the first-class growth of the semiconductor industry chain, one company has received great attention from the state.
Among them, it is worth mentioning that the current market value of this company has just exceeded the 10 billion mark, with a per share** of about 6 yuan and a price-to-book ratio of less than 2 times, indicating that its market value is undervalued.
So what is the scope of business of this company? Why does the country favor it so much?
The company's current main business revolves around semiconductor business, engineering and technical services, and photovoltaic power plant investment and operation. Its semiconductor business mainly relies on its subsidiaries Haitai Semiconductor and Taiji Semiconductor. Haitai Semiconductor focuses on semiconductor product packaging, packaging and testing, module assembly and module testing, and provides services to SK hynix. Taiji Semiconductor provides packaging and testing, module assembly and after-sales service, and its service model is IDM (Integrated Equipment Manufacturing), and its main customers include WDC, ISSI, Micron, etc.
IDM is a company that can integrate a full set of capabilities in chip design, manufacturing, packaging and testing.
The company is one of the few IDM companies in China, and its product performance has been able to compete with the international level.
So, how is this company doing?
Since its listing, the company's performance has been on a steady upward trend. From 2011 revenue of 329.5 billion yuan, an increase to 351 in 20229.5 billion yuan, its operating income has increased nearly 10 times in 12 years.
In the first three quarters of 2023, the company continued to maintain rapid growth, with revenue reaching 2640.6 billion yuan, an increase of 1183%；Achieved a net profit of 57.7 billion yuan, a year-on-year increase of 23065%。
Looking ahead, how does the company grow?
First of all, the company is in a trillion-level blue ocean market with huge potential.
The chip industry is one of the most important industries in the world today, whether it is mobile phones, computers, automobiles, aerospace, medical or energy, etc., chips are an indispensable support. With the advancement of science and technology and the development of society, the demand for chips is also increasing. According to statistics, the global chip market will reach $573.4 billion in 2022, a year-on-year increase of 137%, and it is estimated that by 2024, the global chip market size is expected to reach $740 billion.
As one of the few IDM companies in China, the company is expected to benefit deeply in this market.
Secondly, the company's main partner is SK hynix.
Currently, the company mainly provides back-end services for SK hynix's DRAM products. As the world's second largest DRAM manufacturer, SK hynix maintains a close and irreplaceable cooperative relationship with the company, which not only helps the company to steadily develop its semiconductor business on a high-quality platform, but also establishes a scientific management system, advanced processes and equipment, and a high-quality talent pool.
The most important thing is that through technology licensing, the company has obtained a high starting point, and many technologies have reached the international advanced level.
Finally, a high-level assessment of the company's investment value.
As a rare IDM manufacturer in China, the company covers almost all forms of packaging from traditional packaging to advanced packaging, such as DRAM and NAND Flash.
In the short term, the company's abundant orders with SK hynix and its world-leading technology are sufficient to support its performance growth.
In the medium to long term, the company is expected to deeply benefit from the significant growth in chip demand.
Can you guess which company this is?
Friends who want to know this family can, nod the image to enter the home page, send the number 178, and the answer will be displayed automatically.