On July 31, Sanchao New Material released its financial report for the first half of 2023. During the reporting period, the company achieved a revenue of RMB 219 million, a year-on-year increase of 17.24%; a net profit of 4.5458 million, an increase of 268.03% over the same period last year; a profit of 3.256 million, a year-on-year increase of 316.43%; Basic earnings per share was RMB0.0421, representing a year-on-year increase of 289.81%. During the
reporting period, the gross profit of the Company's electroplated diamond wire was 23.89%, representing a year-on-year increase of 2.7%; the gross profit of diamond wheel grinding was 46.31%, representing a year-on-year increase of 6.67%.
Sanchao New Material said that during the reporting period, the company's orders for silicon slice diamond wire (thin wire) fell short of expectations, while the price also declined, affecting the revenue of silicon slice diamond wire (thin wire), which had a greater impact on the current performance. During the reporting period, the Company granted a total of 2.819 million restricted shares to directors, senior management, middle-level management and core technical backbone and core business personnel incentive objects for the first time, and the total amortization of equity incentive expenses was about 11.23 million yuan, which had a greater impact on the results of the reporting period. During the reporting period, subsidiaries Jiangsu Sanhong (new expansion project) and Nanjing Sanxin (semiconductor and photovoltaic equipment manufacturing) were still in the construction period, with a loss of about-4.34 million yuan in the first half of the year. During the reporting period, Jiangsu Sanjing (semiconductor related consumables), a subsidiary, achieved a revenue of 6.0435 million yuan in the first half of the year, compared with 943.6 million yuan in the same period last year. Although it has increased considerably and has shown a good momentum of development, the overall sales scale is small, and it is still in the stage of market expansion, with a loss of nearly -2.57 million yuan in the first half of the year. During the
reporting period, the company completed the installation and commissioning of the first phase of the newly built 41 million km diamond wire saw project in Jinhu County Economic Development Zone, Jiangsu Province, and will soon be put into production to expand the production capacity of diamond wire. On June 30, 2023, the company has 88 authorized patents (including 18 invention patents), and 31 patents have been accepted and are in the process of examination, including 27 invention patents. The company has formed a more comprehensive patent system in diamond wire and diamond grinding wheel products, as well as a relatively rich technical reserve.
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