February 26, Beijing Huafeng Test & Control Technology Co.Ltd(688200) officially released the annual report of 2021, which also became the first semiconductor company in the A-share semiconductor sector to announce the performance of 202 7
outstanding performance
doubled to become a common phenomenon
Beijing Huafeng Test & Control Technology Co.Ltd(688200) is engaged in the R & D, production and sales of semiconductor automatic test systems, and provides high-quality and efficient semiconductor automatic test systems and accessories to customers in the fields of integrated circuit design, wafer manufacturing, packaging and testing. Listed companies achieved an operating revenue of 880 million yuan in 2021, with a year-on-year increase of 121%; The net profit attributable to the parent company was 440 million, also a year-on-year increase of 123%. If calculated by deducting the net interest rate of non recurring profits and losses, the performance of listed companies increases by nearly 200%!
It should be noted that the company's net interest rate has reached an amazing 50%, which has been comparable to Kweichow Moutai Co.Ltd(600519) 's profitability. The high outlook of the semiconductor industry can be seen. Due to the strong downstream demand, wafer factories have continuously increased capital expenditure, purchased equipment and expanded production capacity, which has become an important driving force for the performance growth of Beijing Huafeng Test & Control Technology Co.Ltd(688200) such equipment companies.
According to semi data, the total sales of global semiconductor manufacturing equipment will exceed US $100 billion for the first time in 2021, reaching US $103 billion, an increase of 44.7% compared with us $71 billion in 2020, and is expected to increase to US $114 billion next year, a year-on-year increase of 11%. It is expected that the high outlook of the semiconductor equipment market will remain.
In fact, Beijing Huafeng Test & Control Technology Co.Ltd(688200) 1 released the performance express on January 17, and the market also had certain expectations for the company's performance growth. According to the regulations of the exchange, the listed company shall disclose the performance forecast before January 31 after the end of the current accounting year if it is expected that there may be losses, turning losses into profits, and net profit increase or decrease by more than 50% compared with the previous year (except for those with too small base).
Therefore, the performance of the semiconductor sector, including Beijing Huafeng Test & Control Technology Co.Ltd(688200) and others, is generally high in 2021, which is reflected in the performance forecast in January.
About 150 enterprises in the wind semiconductor and semiconductor equipment industry have issued advance notices or express reports. According to the lower limit of the year-on-year growth of the predicted net profit, more than 70 enterprises predict that the performance will increase by more than 100% in 2021, including nearly 30 enterprises with a performance increase of more than 200%.
The performance of semiconductor IDM and Hangzhou Silan Microelectronics Co.Ltd(600460) , which focuses on power devices, increased by more than 2000%. Even though the revenue scale has already exceeded 10 billion, and further development is still subject to many restrictions, Semiconductor Manufacturing International Corporation(688981) , as the "hope of the whole village" of domestic semiconductors, also achieved a profit growth of nearly 150% in 2021.
the third industrial transfer and the resonance of semiconductor high boom
expansion boom continues in 2022
Beijing Huafeng Test & Control Technology Co.Ltd(688200) said in its annual report that "the current global semiconductor industry is undergoing third industrial shifts, mainly from South Korea, China Taiwan and Southeast Asia Chinese mainland. The sudden global COVID-19 epidemic has accelerated this shift to an accelerated stage."
"At the same time, with the continuous strengthening of the cycle in recent years and the vigorous consumption of residents, China has developed into the world's largest semiconductor market. Coupled with the continuous care of the government for the semiconductor industry in terms of policies and the continuous development of the whole semiconductor market, China's semiconductor equipment industry has also ushered in good development opportunities."
Semiconductor Manufacturing International Corporation(688981) also mentioned in the announcement that in 2021, the global core shortage tide and the strong demand for local and local manufacturing will bring rare development opportunities to the company.
In 2021, the hot words of automobile industry, power industry and electronic whole machine industry are "lack of core". The structural increment brought by industrial upgrading, the epidemic has brought more demand related to remote connection, the production preference of transferring the supply chain to local production, and the rapid rise of Internet of things, electric vehicles, new energy and other applications have led to the shortage of supply and the rise of volume and price in the semiconductor industry chain.
Semiconductor Manufacturing International Corporation(688981) believes that stock preparation caused by concerns about supply chain security, integrity problems caused by product structural shortage, and an upsurge of production expansion driven by continuous tension in manufacturing capacity also run through 2021, which basically defines the pattern of 2022.
At present, the semiconductor industry in Chinese mainland has entered a mature stage. China's chip design industry is rising rapidly, especially the power management and power chip design companies are developing rapidly. As the core equipment of semiconductor design and production, the Chinese market space of testing machine is expanding. The shipment volume of listed companies increased by more than 100% last year, and the power of downstream customers to expand production is sufficient.
Coincidentally, Hangzhou Silan Microelectronics Co.Ltd(600460) , as the champion of performance growth last year, also mentioned key words such as photovoltaic, new energy vehicles, power management and power devices in the performance express. The wafer factory has a high capacity utilization rate and a significant increase in gross profit margin. High vision spreads throughout the industrial chain, not limited to a certain link or company.
manager Cai "die bite" semiconductor
2022 can usher in the dawn
Over the past year, noan growth hybrid, a star fund that has frequently been popular on Weibo, has made outstanding "contributions" to popularizing semiconductor knowledge to ordinary investors and triggering an upsurge of discussion and learning in the semiconductor field. Cai Songsong, the fund manager at the helm of the fund, has also been dubbed "Cai Shen", "manager Cai", "manager Cai" and other names by netizens. Relevant content has been swiped repeatedly on social media.
According to the latest 2021 fourth quarter report released by noan growth, "manager Cai" is still "Soha" semiconductor: nearly 92% of the fund positions bought stocks, while the top ten heavy positions accounted for 80%, which is still concentrated in semiconductors. Noan's growth of "single crane" semiconductor achieved 95.44%, 39.10% and 22.50% annual earnings from 2019 to 2021. On the whole, it did outperform the market by a large margin.
However, the unit net worth peaked as early as July 2021, and then fell all the way from 2.6260 yuan / share. It was reported as low as 1.7280 yuan this year. At present, it is still hovering below 2 yuan, and the withdrawal range is more than 30%.
"Manager Cai" wrote in the fund report that the market's concern about the prosperity of the industry in the fourth quarter dragged down the trend of the chip sector.
\u3000\u3000 "However, from the perspective of industry, on the one hand, the shortage and price rise of the chip industry may be more tense. At present, the delivery date of some categories of chips has reached the peak since 2017 and is still extending; on the other hand, independent key technologies are about to break through. One is that the industry outlook continues to accelerate, the other is that the curtain of substitution has opened. The industry is facing two challenges in 2022 The strongest logic of superposition. "
"In the context of the marginal improvement of macroeconomic policies, we need to pay more attention to the industry itself, and the time of divergence is the time to pay attention to and layout." In this way, "manager Cai" will not change his combination thinking.
In recent years, the state has increasingly strengthened its support for the semiconductor industry, and successively issued the notice of the State Council on printing and Distributing Several Policies to further encourage the development of software industry and integrated circuit industry Policies to encourage and support the development of semiconductor equipment industry, such as the notice of the State Council on printing and distributing the national scientific and technological innovation plan for the 13th five year plan and the special support for integrated circuits by the Ministry of science and technology.
The outline of the 14th five year plan also clearly proposes to cultivate advanced manufacturing clusters and promote the innovative development of integrated circuits and other industries, creating a good policy environment for the development of China's semiconductor equipment industry.
The high growth of the performance of listed semiconductor companies in 2021 and whether it can be sustained under the support of policies and markets in 2022 may become the key to the turnover of "manager Cai" of heavy position semiconductor.
