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On August 7, Tianjin Zhonghuan semiconductor Co., Ltd. (hereinafter referred to as “Zhonghuan” or “the company”) announced its 2021 semi-annual report. The report shows that in the first half of 2021, the operating income of Zhonghuan Co., Ltd. was 17.644 billion yuan, a year-on-year increase of 104.12%; the net profit attributable to shareholders of listed companies was 1.480 billion yuan, a year-on-year increase of 174.92%; attributable to shareholders of listed companies The deducted non-net profit was 1.302 billion yuan, a year-on-year increase of 208.16%.
In other major related transactions, Tianjin Huanxin planned to introduce TCL Microchip to increase its capital with a capital increase of 567 million yuan. After the capital increase was completed, TCL Microchip held 55% of Tianjin Huanxin, and the company held Tianjin Huanxin. Xin 45% shares, Tianjin Huanxin will no longer be a subsidiary within the scope of the company’s consolidation. The company’s controlling shareholder TCL Technology executives serve as directors of TCL Microchip. According to the relevant provisions of the “Shenzhen Stock Exchange Listing Rules”, TCL Microchip is a related legal person of the company, and this transaction constitutes a related transaction.
It is understood that the main products of Zhonghuan Co., Ltd. include semiconductor materials, semiconductor devices, semiconductor photovoltaic materials, photovoltaic cells and modules; development and operation of high-efficiency photovoltaic power station projects. The application fields of the products include integrated circuits, consumer electronics, power grid transmission, wind power generation, rail transit, new energy vehicles, aviation, aerospace, photovoltaic power generation, industrial control and other industries.
Zhonghuan Co., Ltd. stated that the main factors affecting the company’s performance during the reporting period are as follows:
1. Semiconductor photovoltaic business segment: During the reporting period, (1) the scale of the company’s 210 products accelerated and the product structure transition was smooth. By the end of the reporting period, the company’s semiconductor photovoltaic material production capacity has increased by more than 55% to 70GW compared with the end of 2020, and the production and sales scale has increased by 110% year-on-year. (2) Through a series of technological advancements, the consumption rate of silicon material per unit product in the first half of the year decreased by nearly 2% year-on-year, and the rate of silicon wafer A product increased significantly, which greatly improved the gross profit margin of unit product. (3) In the face of the rapid rise in the price of polysilicon raw materials in the first half of the year, the company has well ensured the increase of the company’s production and sales scale through the long-term establishment of a good supply chain partnership. In addition, the company has effectively controlled the inventory scale and reduced future business risks.
2. Semiconductor materials business segment: During the reporting period, (1) the company’s production capacity increased rapidly, product structure was optimized and upgraded, and the production and sales scale increased by 65.8% year-on-year. It has become a domestic leading silicon polished wafer and epitaxial wafer manufacturer with complete product dimensions business. (2) Combined with the advantages of industrial layout, the continuous improvement of process capacity and utilization rate, the commercial competitiveness is further improved. (3) Taking advantage of the opportunity of rapid growth in the semiconductor market, we signed long-term strategic cooperation agreements with a number of chip manufacturers, laying a customer foundation for business development.
3. In terms of transformation of modern manufacturing industry: With the application of Industry 4.0 production methods in the operation processes and operation scenarios of various industrial sectors of the company, during the reporting period, the per capita labor productivity continued to increase significantly, product quality and consistency continued to improve, The consumption of raw materials and auxiliary materials has been effectively improved, and the operating cost of the factory has continued to decline; and it has effectively promoted the production and sales scale and product quality of 210 products.
4. In terms of internal corporate governance: under the new system and mechanism, the company’s strategic direction is clear, and the organizational team is full of vitality; various internal operations work to strengthen the strengths and make up for the weaknesses, improve the quality and efficiency of operations, and comprehensively enhance the competitiveness. During the reporting period, the company’s decision-making processes were optimized and more efficient. In June 2021, the company released the first equity incentive plan after the mixed-ownership reform, and completed the repurchase of 330 million yuan of shares used for equity incentives. .
Driven by the global leading goal, the company implements the “9205” five-year strategic plan for the semiconductor photovoltaic business sector according to the semiconductor photovoltaic market and industry development trends, combined with 210 product technology and shingled product technology advantages and industrialization process. Seize the opportunities of industry development, accelerate the seizure of technological dividends, and accelerate the realization of global leadership; it is expected that the company’s performance will continue to maintain strong growth this year, and it is confident to achieve the goal of doubling its performance.