Domestic and foreign sales growth rate returned to 40%
According to the data, the company's main business is the packaging and testing business of integrated circuits, mainly providing image sensor chips, ambient light sensor chips, micro-electromechanical systems (MEMS), and light-emitting electronic devices (LEDs) to provide wafer-level chip scale packages (WLCSPs). ) And testing services.
The reporter learned that wafer-level chip size packaging technology is characterized by directly packaging the wafer after the wafer manufacturing process is completed, and then dicing the wafer into single chips. The size of the packaged chip is basically the same as that of the original bare chip. Meet the consumer electronics needs of short, small, light, thin development and trends. As a new advanced packaging technology with cost advantages and industrial chain advantages, At present, only a few companies worldwide have mastered the wafer-level chip size packaging technology. As a leader in wafer-level chip-size packaging technology, Jingfang Technology has the advantages of first-mover advantage and scale.
According to the data, in 2017, the chip packaging and testing products of the company achieved an operating income of 621.57 million yuan, and the product gross profit rate was 36.52%, an increase of 5.32 percentage points over the previous year. From the perspective of regional distribution, the sales revenue of the company is still in an absolute dominant position. , Operating income of 44,963.05 million yuan, gross profit margin reached 42.52%. Domestic sales revenue was 17,914.91 million yuan, gross profit margin was 23.84%. After experiencing the overall weak demand of the industry, after destocking pressure, the company's gross profit margin for export in 2017 was again Back to more than 40%.
Industry Fund Helps Tianfeng Securities Give Buy Rating
At the end of 2017, an announcement of Jing Fang Technology sparked market concern. According to the announcement, the actual controlling shareholder of Jing Fang Technology signed a “Share Transfer Agreement” with the National Integrated Circuit Industrial Investment Fund Company, and EIPAT transferred its holding company to the Big Fund. Conditional tradable shares were 21.67 million shares, accounting for 9.32% of the total shares of the company.
In this regard, Tian Feng Securities analysts Pan Yi and Chen Junjie mentioned in the article “Integrated Circuit Industry Fund Assisting the Company to Reload,” IC Industrial Fund is an important driver behind the development of China’s integrated circuit industry. For Jing Fang Technology, In addition to the financial support, the involvement of the IC industry fund reshapes the synergy and linkage between participants in the entire semiconductor industry in China. In the opinion of Pan Ji and Chen Junjie, the major fund’s acquisition of Jingfang Technology’s shares is Milestone signal in the development process of the company.