Fuding is a gold and oxygen half-power field-effect transistor (MOSFET) manufacturer. In terms of the revenue share of products last year, medium-voltage MOSFETs with higher gross margin accounted for 35% of revenue, followed by low-voltage MOSFETs accounted for 33% of revenue, and high-voltage MOSFETs. The camp accounted for 16%. In addition, some power supply ICs (including linear regulator ICs and pulse control ICs) were applied to NB for 10% of the revenue, and other types accounted for 6%.
In terms of applications, Switched-mode power supply accounts for approximately 40% of revenue, PC accounts for 25% of revenue, IC accounts for 12%, display type accounts for 10%, consumer products account for 5%, and other types Accounted for 8%.
At present, the largest application of Fortune Technology is power switch products. The products are very diverse, such as vehicles, machine tools, and mining machines, which are all used in applications. Last year, they were driven by demand from mining machines and vehicles. The growth of the product line is good.
The PC is based on the US Department of, Taiwan-based brands, but due to the gradual weakness of the PC market, Fuding said that PC demand is still in the second half will enter the peak season, can contribute part of the revenue.
From the perspective of market supply and demand, recently with the rise of electric vehicles in the MOSFET market, many international IDM makers have switched to high-margin automotive MOSFETs. As a result, a large number of conventional MOSFETs such as PC/NB are out of stock. It can also be gradually improved, so Fuding’s revenue was also boosted quarter by quarter in the past year, and also achieved good results in the first quarter of this year.
Fuding's observation of the MOSFET market conditions this year, the company said that at present it seems that market demand is still hot, this year's orders are sufficient, as long as they can get the production capacity will be able to smoothly ship, and in the face of capacity constraints, the company can only do its best Help customers find productivity.
As for legal persons, they are also concerned that the 12-inch plant joint venture between China International Semiconductor (AOS) and the government will begin full production at the end of the year, with a production capacity of about 20,000 pieces. After the production capacity is released, the market for MOSFETs will be split, and the original shortage of supply and demand will also be affected. It is hopeful that the orders of Taiwan plants may be affected and may be reduced. However, it is also necessary to observe the progress of their yields. Therefore, the estimated impact should fall to next year.
Last year, Fuding benefited from the international IDM makers to switch to high-margin automotive MOSFETs, resulting in a large number of conventional MOSFET applications out of stock, coupled with demand for mining machines, vehicles, etc., quotes can be gradually increased, Fuding Last year, the revenue was 2.13 billion yuan, an increase of 24.15% over the previous year's 1.715 billion yuan. However, the gross profit margin was dragged down by some high-voltage MOSFETs with poor gross margins, and some of the cost increases could not be immediately passed on to customers. It came to 15.89%, compared with 16.14 the year before last year. % decreased slightly, EPS came to 0.48 yuan, compared with 0.88 yuan the previous year.
In the first quarter, last year's momentum continued, and revenue was 560 million yuan, up 3.8 billion yuan from the previous year, which was a year-on-year increase of 47.48%. However, gross profit margin remained under pressure, and there was still exchange rate interference, but profitability should be significantly improved compared to the same period of last year. .
Looking forward to the second quarter, the outside world has also reported that the MOSFET production capacity is relatively loose, so the price gradually slows down, but the legal person believes that the second quarter of the MOSFET is still more demanding than last year, the price is higher, so from the perspective of revenue, rich Ding should be able to maintain double-digit growth. As long as the gross margin can be maintained, the profit should be increased. In the whole year, we should continue to observe the price changes and production capacity allocation.