On April 12, Zhejiang Jiemei Electronic And Technology Co.Ltd(002859) ( Zhejiang Jiemei Electronic And Technology Co.Ltd(002859) ) announced the 2021 annual report. During the reporting period, the company achieved an operating revenue of 1.861 billion yuan, an operating profit of 439 million yuan, a total profit of 438 million yuan and a net profit of 389 million yuan, an increase of 30.58%, 33.37%, 33.16% and 34.47% respectively over the same period of the previous year. The company plans to distribute a cash dividend of 2.00 yuan (including tax) for every 10 shares.
The company is an enterprise specializing in supporting the production of thin carrier tape series products and transfer tape (release film) products for integrated circuit and chip electronic components enterprises. It is widely used in the fields of integrated circuit, chip electronic components, semiconductor, photoelectric display and new energy, and provides global customers with one-stop services and overall solutions for the use of electronic components and consumables required in the process.
China’s electronic information manufacturing industry has an obvious pulling effect on industrial production, strong development momentum and huge growth potential, which provides good external conditions for the continuous growth of the company. Especially since the covid-19 epidemic, the global digitization process has accelerated, and the market demand for IDC, 5g network and terminal, PC, new energy vehicles, medical electronics and so on has continued to increase. According to the statistics of the Ministry of industry and information technology, in 2021, the added value of electronic information manufacturing industry above designated size increased by 15.7% over the previous year, 8% faster than the previous year, and the growth rate reached a new high in recent ten years; From 2020 to 2021, the average growth rate is 11.6%.
During the reporting period, the company had sufficient orders, prosperous production and sales, and good performance in the three business segments of paper tape and tape, plastic tape and release film. The company continues to expand production capacity, improve all links of industrial chain integration, and promote fine management, cost reduction and efficiency increase. In addition, with the acceleration of the miniaturization trend of electronic components, the company continued to optimize the structure of paper tape series products, and the production and sales of back-end high value-added products increased rapidly. The annual sales revenue and net profit of the company maintained a stable growth.
In the field of paper tape, the company continues to maintain high quality and high market share. The company complies with the trend of miniaturization of electronic components and increases the production and sales of back-end high value-added products such as perforated paper tape and perforated paper tape; And expand 01005 perforated paper tape and perforated sealing tape products in the semiconductor industry. During the reporting period, the company introduced more high-end electronic base paper production lines during the implementation of phase II of the “60000t / a chip electronic component packaging thin paper tape project”, and carried out technical transformation on two electronic base paper production lines in phase I. At the beginning of 2021, the company started the construction of the fifth electronic special base paper production line, which is planned to be put into operation in August this year. After reaching the production capacity, the company’s chip electronic component packaging thin paper tape carrying capacity will jump to 120000 tons / year.
In terms of tape production capacity, the company’s “production expansion project of special tape for electronic component packaging with an annual output of 4.2 million volumes” has been successfully promoted, and the new production capacity of 2 million volumes / year will be released year by year. The company has also completed the transformation and upgrading of the tape production line at the same time, greatly improving the quality of the company’s tape products and laying the foundation for the upgrading of tape products.
In the field of plastic carrier belt, the company’s high-end plastic carrier belt shipments have increased steadily, and precision small-size products such as 0603 and 0402 have been supplied stably, with a good market response; 12 new plastic tape production lines have been put into operation, and the company has put into operation 60 plastic tape production lines. The company’s fund-raising investment project “technical transformation project of plastic tape production line with an annual output of 1.5 billion meters for electronic component packaging” has been successfully completed. At the same time, the company’s customers in the field of semiconductor packaging and testing have also entered the supply stage, and the business development momentum is good.
In the field of release film, the production lines of the company’s IPO raised investment project “construction project of electronic component transfer tape production line with an annual output of 200 million square meters (phase I)” operated smoothly, and the shipment of release film for MLCC process increased steadily. The imported substitute high-end release films produced by the company for other purposes such as polarizer manufacturing process have also achieved certain sales. During the reporting period, the company implemented the “construction project of electronic component transfer tape production line with an annual output of 200 million square meters (phase II)” with its own funds. After the completion of the above projects, the company will have the production capacity of various new but not yet domestic release film products, including high-end MLCC release film and release film for optical materials.
At the same time, in order to realize the self production of the base film, the main raw material of the release film products, and realize the industrial chain integration of the release film products, the company continues to optimize the production projects of optical BOPET film and CPP film. Among them, the BOPET film project successfully entered the trial production stage in December 2021; The company is expected to become an important raw material supplier in the electronic and photoelectric display industry. The production line of CPP film project entered the batch supply stage in September, which is mainly used for aluminum-plastic film for lithium battery and other products. The corresponding downstream applications are mainly new energy vehicles and other emerging fields, and there is a huge space for domestic substitution.
Looking forward to the future, the company will continue to accelerate the extension and expansion to the release film field based on the electronic thin carrier belt, actively promote the in-depth cooperation with the leading enterprises in the electronic information industry at home and abroad, and continue to deepen the long-term strategic cooperation with the world-famous electronic component manufacturers. The company will continue to build three technical platforms, namely “electronic chemical technology platform, polymer material technology platform and coating technology platform”. On the basis of the technical platform, the company will develop more categories of high-end electronic consumables and boost the localization and substitution process of relevant electronic consumables.
