Luxiao Technology disclosed the interim Report: Nearly 80 % of the income is still the revenue of silicon carbide business in the lacquer cable.

On August 30, 2022, the well -known A -shares of the concept of silicon carbide carbonide (SZ002617, the stock price of 12.08 yuan, and a market value of 23.230 billion yuan) disclosed the interim report. Luxiao Technology introduced the silicon carbide business as one of its main business, but the reporter did not find the specific sales amount of its silicon carbide business in the interim report.

From the perspective of revenue structure, lacquer lines account for 77.99%, and photovoltaic power generation business accounts for 17.30%. For silicon carbide substrate business, which has attracted much attention from investors, Luxiao Technology said that it has successfully developed a 6 -inch conductive silicon carbide lining film and started mass production. After the cutting equipment is reached, the company can achieve a large amount of supply.

On the morning of August 31st, the reporter of "Daily Economic News" called the Office of Luxiao Technology's Office as an investor. The staff said: "Because the company is now focusing on the silicon carbide industry, it is mainly developed to the silicon carbide industry to develop. . Slowly, it will definitely become our main business. "

Main income still comes from lacquer cables

The interim report shows that Luxiao Technology's revenue in the first half of 2022 was 1.763 billion yuan, a year-on-year decrease of 4.96%, and the net profit was -33,597,500 yuan, a year-on-year loss.

Luxiao Technology's silicon carbide business is mainly responsible for Hefei Luxiao Semiconductor Material Co., Ltd. (hereinafter referred to as "Hefei Luxiao"). Hefei Lu Xiao has been commissioned one after another since June 2021. By December 2021, the construction of the negative processing workshop was completed and put into use. The 280 director crystal furnace has been installed and started mass production. The long crystal yield has reached 50%, which is at the global advanced level. , MOS certification is close to the end.

Although Hefei Lu's laughing negative processing workshop was put into use at the end of 2021, large -scale revenue has not been formed in the first half of 2022.

In the semi -annual report, Luxiao Technology introduced the company's main business three major businesses: silicon carbide, lacquer cable, and photovoltaic power generation, but the total revenue proportion of lacquer cables and photovoltaic power generation accounted for 95.29%in the first half of 2022. In addition, from the perspective of operating income products, the income of "other products" is 1.031 million yuan, and the "other business" income is 30.2213 million yuan. From this point of view, Luxiao Technology has the intention to expand the silicon carbide business, but the current business revenue seems to have not yet been measured.

Image source: Luxiao Technology 2022 Menters

So, in the semi -annual report, Luxiao Technology introduces the main bias of the main business silicon carbide business? In this regard, the company's above -mentioned staff said: It is a business direction of the company. In this regard, the focus is on this ... Now it is also the stage of production capacity climbing.

In the first half of 2022, although Hefei Laughing's revenue was not volume, the balance sheet expanded sharply. In early 2022, Hefei Luxiao's total assets were 249 million yuan, total liabilities were 53.12 million yuan, and the asset -liability ratio was 21.30%. The flow assets were 843.251 billion yuan, the liabilities were 53.125 million yuan, and the mobile ratio was about 1.59.

As of June 30, 2022, Hefei Luxiao's total assets were 1.378 billion yuan, total liabilities were 946 million yuan, and the asset -liability ratio rose by 68.65%. In addition, the company's mobile assets were 1.154 billion yuan, mobile liabilities were 946 million yuan, and the mobile ratio was about 1.22.

What is the capacity of silicon carbide base capacity?

"Daily Economic News" reporter sorted out Lu Xiao Technology from 2021 to 2022. The investor relationship activity record form found that there seemed to be differences in the production data of silicon carbide lining disclosed by Luxiao Technology before and after the output data.

According to Luxiao Technology's public disclosure, its silicon -based substrate has been triald in small batches in September 2021. In November 2021, Luxiao Technology said that the current annual production capacity of the company's existing film is 25,000 pieces, which will continue to expand production according to the market order. It is expected that by June next year, the company will expand its annual production capacity to 100,000 pieces to 100,000 pieces. Essence

According to the research report in February 2021, Guojin Securities stated that the market price of 6 -inch silicon carbide substrates is about 8,000 to 10,000 yuan, and the market price decreases by about 10%to 15%per year. At present, some investors also say that the price of silicon -based silicon substrate is about 6,000 yuan/piece.

Regarding whether the price of silicon carbide substrate is about 6,000 yuan/piece in the forum, the above -mentioned company staff said: "The specific unit price, we have not disclosed it publicly. Personally, it is similar to the market price."

So, what is the market price? The reporter asked, and his reply said: "I don't know well, and the amount that should be said to you will not be much worse."

Suppose the price of silicon carbide base is 6,000 yuan/piece, and Hefei Lu Xiao's annual production capacity reached 100,000 tablets in June 2022 (about 8333 pieces of monthly production), so roughly calculated, monthly income contracts in Hefei Luo Xiaoman produced monthly revenue contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract contract -sharing monthly revenue It is 50 million yuan.

From the perspective of investor relations activity records, the company's silicon carbide business is good. At the end of 2021, Luxiao Technology said that the company had passed the early stage and began to enter the stage of industrialization. I believe that the company's vision can be realized soon. In January 2022, Luxiao Technology said that the company can realize thousands of supply capacity per month in the second quarter of 2022.

By July 2022, Luxiao Technology said that it is expected to produce about 500 ~ 1000 pieces in July, and 1,000 ~ 2000 pieces will be produced in August. It is expected that the production scale of 5,000 pieces/month can be achieved by the end of this year. At the same time, the company will accelerate the launch process of carbonic carbide production in the later period. By April next year, it can achieve 10,000 monthly production capacity, and it is expected to achieve an annual production capacity planning of 200,000 pieces in 2023. Why did Lu Xiao Technology say that production capacity will be expanded to 100,000 pieces before June 2022, and now it is said that it can be supplied to 1,000 pieces per month in July 2022? In investor activities, the company mentioned "the influence of the import of accessible supplementary materials".

As for the differences between data, the above -mentioned staff said: "I don't know the specific situation, because the project is in Hefei. The situation I know is that this year's (production) amount has been gradually enlarged. It is expected that it is expected that it is expected that At the end of the year, it is 5000 pieces/month. "

So, can it really reach 5,000 tablets/month at the end of the year? It also said: "Professor Chen Zhizhan is on Hefei this year, the production line is gradually expanding, and the teaching team has been improving."

In the semi -annual report, Luxiao Technology introduced that in terms of talents, the company introduced the veteran of the domestic silicon carbide field and the team of professors of Chen Zhi to achieve rapid breakthroughs in the field of silicon carbide. Essence

Daily Economic News

- END -