On April 13, Naura Technology Group Co.Ltd(002371) ( Naura Technology Group Co.Ltd(002371) , SZ) released the performance forecast for the first quarter of 2022. It is estimated that the operating revenue in the first quarter of 2022 will be about 1.99 billion yuan to 2.28 billion yuan, with a year-on-year increase of 40% to 60%; It is estimated that the net profit attributable to the shareholders of the listed company will be about 197 million yuan to 219 million yuan, with a year-on-year increase of 170% to 200%.
For the expected growth of performance in the first quarter, Naura Technology Group Co.Ltd(002371) explained that the main reason was the strong downstream demand.
On the same day, Naura Technology Group Co.Ltd(002371) also released the 2021 annual performance express, which is expected to achieve an operating revenue of about 9.683 billion yuan in 2021, a year-on-year increase of 59.9%; The net profit attributable to shareholders of listed companies was about 1.077 billion yuan, a year-on-year increase of 100.66%.
The reporter of the daily economic news noted that many research institutions believe that the semiconductor equipment industry is expected to continue its growth trend in 2022, mainly due to the growth of equipment expenditure of wafer factories and the acceleration of domestic substitution.
strong downstream demand
“Compared with the same period last year, due to the strong demand in the downstream market of the main business and the continuous growth of the company’s electronic process equipment and electronic components business, the company’s operating revenue and net profit attributable to the shareholders of the listed company have achieved year-on-year growth.” Naura Technology Group Co.Ltd(002371) for the first quarter performance growth.
In the 2021 annual performance express released on the same day, Naura Technology Group Co.Ltd(002371) interpreted the performance growth in 2021 as the increase of sales orders and production scale compared with the previous period, “In 2021, the company’s electronic process equipment and electronic components business still faces good development opportunities. By accelerating technological innovation, gathering development resources, seizing market opportunities and effectively preventing and controlling risks, the company’s business work is carried out smoothly and its business performance continues to grow.”
In 2021, the semiconductor industry witnessed strong growth. According to the 2021 annual report released by Advanced Micro-Fabrication Equipment Inc.China(688012) ( Advanced Micro-Fabrication Equipment Inc.China(688012) , SH) and the data statistics of WSTS (World Semiconductor Trade Statistics), the global semiconductor sales reached US $555.9 billion in 2021, with a year-on-year increase of 26.2%. China remains the largest semiconductor market, with total sales of US $192.5 billion in 2021, a year-on-year increase of 27.1%, a record high.
Benefiting from the growth of downstream, semiconductor equipment also showed a high growth trend in 2021. According to semi (international semiconductor equipment and Materials Industry Association), the global sales of semiconductor manufacturing equipment surged in 2021, up 44% from US $71.2 billion in 2020, reaching a record high of US $102.6 billion. China became the largest market for semiconductor equipment for the second time, with sales increasing by 58% to US $29.6 billion, the fourth consecutive year of growth.
it is expected that the equipment expenditure of wafer factory will continue to increase in 2022
“The application of new technologies and products such as 5g, Internet of things, big data, artificial intelligence and automotive electronics will bring huge semiconductor market demand. Semiconductor equipment is located in the upstream of semiconductor industry chain, and its market scale fluctuates with the development of downstream semiconductor technology and market demand.” Advanced Micro-Fabrication Equipment Inc.China(688012) analysis scale.
“With the continued strong market demand driven by new applications, the semiconductor equipment industry will benefit from the development of the semiconductor industry.” Advanced Micro-Fabrication Equipment Inc.China(688012) .
Semi holds a similar view that the industrial boom will continue in the future. In its forecast report in January this year, semi believes that the global front-end wafer plant equipment expenditure is expected to increase by 10% year-on-year in 2022, reaching a record high of more than $98 billion, marking the third consecutive year of growth.
Semi said that after 17% growth in 2020 and 39% growth in 2021, wafer plant equipment expenditure will continue to grow in 2022. The last three-year growth of the industry was from 2016 to 2018, and the last three-year growth was in the mid-1990s.
From the perspective of longer cycle, Advanced Micro-Fabrication Equipment Inc.China(688012) believes that the global semiconductor equipment procurement expenditure is expected to maintain an increasing trend from 2020 to 2024. According to Gartner’s prediction, the market scale of etching equipment will increase from about US $12.3 billion in 2020 to about US $15.2 billion in 2024. According to yole’s prediction, the market scale of gallium nitride based MOCVD equipment will increase from US $190 million in 2020 to about US $250 million in 2025, and the market of power device epitaxial equipment will increase from about US $200 million in 2020 to about US $310 million in 2025.
It is worth noting that, in addition to the overall growth of the industry, many institutions believe that the domestic substitution trend has become another key factor to promote the growth of relevant industries.
China Merchants Securities Co.Ltd(600999) said in the Research Report: “according to the production expansion plans of major wafer factories, the production expansion is still in the peak period from 2022 to 2023. At the same time, it is necessary to pay attention to the slowdown of capital expenditure caused by the decline of production rate of wafer factories under the influence of repeated epidemics, geographical conflicts and other external factors on both sides of supply and demand. From a long-term perspective, the construction of Chinese wafer factories has been significantly accelerated, which is conducive to the localization of equipment and materials.”
Zheshang Securities Co.Ltd(601878) in the research report, it is believed that ” Naura Technology Group Co.Ltd(002371) as a leading enterprise of platform semiconductor equipment in China, it is expected to replicate the historical trend of market share increase (domestic substitution) and diversified product platform layout (platform company) of North American semiconductor equipment leading companies in the past 10 years in the next 10 years.”
\u3000\u3000 “China’s China Chinese semiconductor equipment market is dominated by enterprises in Europe, America and Japan. In recent years, the technology level of China’s equipment industry has been improving. The advantages of domestic equipment in products such as price performance, customer service and customer service have gradually emerged. As the largest semiconductor consumer market in the world, market demand has driven the global capacity center to Chinese mainland. The continuous capacity transfer has led to the market scale and technology. The improvement of the level also provides opportunities for the development of the equipment industry. ” Advanced Micro-Fabrication Equipment Inc.China(688012) scale.
