Yangjie Technology stated that the company controlled a 6-inch wafer line in Yixing in March 2018. The production line is currently capable of producing IGBT chips in small batches. The company is actively planning 8-inch lines, storing 8-inch wafers, and IGBT technical talents. In the next three years, the company will increase its investment in R&D expenses by 5% or more year by year. With the development of large-scale wafers, silicon carbide wafers, and high-end device production lines, it will attract top-notch semiconductor technology at home and abroad, R&D personnel, and rapid growth. The contribution of the R&D section to the company contributes to the company's transformation from its two-wing configuration of production and sales to R&D, production, and sales.
The following is a record of Yang Jie Technology and investors Q&A:
Investors: In the first quarter of fiscal year 2018, the company’s financial report showed that inventory increased from 210 million yuan at the beginning of the year to 270 million. What kind of commodities is reflected in the large increase in inventory? Is it due to the impact of the first quarter of this year? What proportion of the total amount of inventories is in this total of 270 million?
Yangjie Technology: The main reason for the company's inventory growth in the first quarter of 2018 was that the company had strategically stocked the continuous price increase for raw materials such as wafers, and increased customer stocks to ensure product delivery. Chengdu Qingyang Electronic Materials Co., Ltd. The consolidation of the company's consolidated statements has a partial impact on inventory growth. Its combined inventory of goods is 2.626208 million yuan, accounting for 9.63% of total stocks at the end of the first quarter. Investors: When will the company's IGBT products be mass-produced?
Yangjie Technology: The company controlled a 6-inch wafer line in Yixing in March 2018. The production line is now capable of producing IGBT chips in small batches. The company is actively planning 8-inch lines, storing 8-inch wafers, and IGBT technical talents.
Investors: The company indirectly participates in the shareholdings of Ruineng Semiconductor. Can you introduce the 2017 revenue and net profit of Renesas, as well as specific dividend plans?
Yangjie Technology: The Beijing Guangmian Semiconductor Industry Investment Center (Limited Partnership) invested by the company has not yet received the audited 2017 annual financial statements of Ruineng Semiconductor Co., Ltd. According to the understanding and estimation of the company's business end, Ruineng Semiconductor 2017 The company achieved revenue of approximately 600 million yuan and net profit after tax of approximately 70 million yuan. It will distribute 30% to 70% of its after-tax net profit in previous years.
Investors: The company's asset turnover rate has declined in recent years. The utility of assets is not very high. What are the main reasons?
Yangjie Technology: Because the company has implemented three non-public offerings since 2016 and invested a lot of equipment, the total assets have increased rapidly. However, due to the project being in the process of implementation, the corresponding benefits have not been fully released, resulting in asset turnover. The rate is low. Since this year's fundraising projects will be completed one after another, the economic benefits generated will be fully released, and the asset turnover will gradually increase.
Investors: How is the current progress of the company's silicon carbide project?
Yangjie Technology: With respect to the silicon carbide project, the company is currently in the process of accumulation of encapsulation and tapeout, and is preparing for the preparatory research and development of the line.
Investors: The company's 6-inch production line has also been put into production. For a 6-inch wafer, how many photovoltaic diodes will a wafer be cut?
Yangjie Technology: Due to customer requirements for different product parameters, the corresponding die size is also different. Each 6-inch wafer can produce 1000-1500 die.
Investors: What are the plans for the company's outreach?
YangJie Technology: The company will continue to improve and expand the growth path of extension, Actively with the advantages of technology or channels in the semiconductor industry, High-quality overseas companies with strong competitiveness and profitability, Local companies in depth exchanges and cooperation, Continue to enrich the company's semiconductor Industrial quality, to achieve the company's overall scale and comprehensive strength of the rapid increase.
Investors: What is the company's R&D investment plan for the next three years?
YangJie Technology: The company will increase the investment in R&D expenses year by year, keeping at least 5%. With the development of large-size wafers, silicon carbide wafers and high-end device production lines, it will attract top-notch semiconductor technology at home and abroad, R&D personnel, and rapid R&D. The contribution of the plates to the company accounts for the company’s transformation from the previous two-wing pattern of production and sales to the development of R&D, production, and sales.