Single-quarter net profit exceeds 1 billion yuan, Wingtech’s semiconductor performance exploded

On October 27, Wingtech Technology released the report for the third quarter of 2022. In the first three quarters, the operating income was 42.085 billion yuan, a year-on-year increase of 8.90%; the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 1.957 billion yuan, a year-on-year increase An increase of 1.22%. In the third quarter, the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 795 million yuan, an increase of 50.23% month-on-month. Among them, the semiconductor business achieved operating income of 4.289 billion yuan and net profit of 1.010 billion yuan in the third quarter, reaching the highest in a single quarter. Level.

According to the financial report, Wingtech’s semiconductor business revenue and profit in the first three quarters continued to increase year-on-year and month-on-month. The operating income in the first, second, and third quarters was 3.697 billion yuan, 3.962 billion yuan, and 4.289 billion yuan, respectively. Net profit was 854 million yuan, 872 million yuan, and 1.010 billion yuan respectively. Among the semiconductor companies that have announced their results so far, the performance of Nexperia, a subsidiary of Wingtech Technology, is the most dazzling.

Since the beginning of this year, the development of the semiconductor market has tended to be differentiated, showing structural growth, and the demand for semiconductors in the electric smart vehicle market has continued to grow. In this context, Nexperia, which accounts for nearly half of the revenue from automotive semiconductors, has demonstrated its leading competitiveness. As a leader in automotive regulations, it has outstanding performance and rapid development momentum, and is in the process of substantial expansion.

On October 24, Wingtech Technology announced that the Sun Company Anshi Semiconductor (China) Co., Ltd. and the People’s Government of Huangjiang Town, Dongguan City signed the “Anshi Semiconductor (China) Co., Ltd. Packaging and Testing Plant Expansion Project Investment Agreement”. The total investment of the project is about 3 billion yuan, and the industry content includes but not limited to discrete devices, analog & logic ICs, and power MOSFETs. It is understood that the packaging and testing plant is currently the world’s largest small-signal component factory, with an annual output of more than 50 billion.

In addition, Nexperia’s Seremban packaging and testing plant in Malaysia has launched a substantial expansion in December last year. After the expansion, the production capacity will increase by 25 billion units; the Shanghai Lingang 12-inch vehicle-grade vehicle grade was built by Wentianxia, ​​the controlling shareholder of Wingtech Technology. The fab is accelerating; Nexperia’s new 8-inch wafer production line in Hamburg, Germany has been successfully put into operation.

Because the company’s product integration business is still in a period of strategic adjustment, its performance is still under pressure. In the first three quarters, Wingtech’s product integration business achieved an operating income of 28.109 billion yuan, a gross profit margin of 8.7%, and a net loss of 404 million yuan, of which the third quarter had a net loss of 188 million yuan. Wingtech said that in the face of the sluggish demand in the consumer electronics market, the company actively expands its international customers, deploys AIoT, servers, automotive electronics, laptops and other fields to open up future growth space.

According to the semi-annual report, Wingtech’s product integration business has gradually entered the harvest period in terms of expanding new customers and new products. In terms of new customers, the shipment of smart home products and PC products for specific customers has started. With the increase of scale in the future, it will gradually become an important source of revenue for the product integration business; in terms of new products, it is actively deploying AIoT, servers, automotive electronics, pens Electricity and other fields.

In the optical module business, the net loss in the first three quarters was 34 million yuan, of which the net loss attributable to shareholders of listed companies was 24 million yuan. Wingtech said that the optical module business strives to improve management efficiency and continues to promote new projects. Previously, the company’s semi-annual report disclosed that the verification and promotion of new models of its optical module business is progressing smoothly, which will further deepen the cooperative relationship with specific customers; at the same time, it is also further promoting its advanced technology products in automotive optics, laptops, ODM mobile phones. applications in other fields to create new growth points.

On the whole, in the context of the continuous downturn of the consumer electronics market and the overall pressure on the industry, Wingtech Technology still handed over a quite bright transcript in the first three quarters, among which the semiconductor business is particularly eye-catching. Looking ahead, the company is still expected to continue to benefit from the continuous growth of automotive semiconductor market demand and the continuous entry of new customers and new products into the harvest period to achieve long-term growth. new stage of development. (Proofreading/Huang Rengui)