大和发表报告指，时代电气管理层在业绩会议上表示，对功率半导体盈利能力持审慎态度，主要是宜兴晶圆工厂的折旧开支，基于此担忧，该行料未来3至6个月其股价表现疲软。汇丰则表示，IGBT市场竞争剧烈，公司新业务毛利率介乎22%至25%，当中半导体毛利率会较高；宜兴生产线下半年将转化为固定资产，折旧支出将导致净利润率下降。Times Electric (03898) fell by more than 4% again, as of the time of writing, it dropped by 3.11% to HK$26.5, with a turnover of 0.119 billion Hong Kong dollars.
According to the financial app, Times Electric (03898) fell by more than 4% again, dropping by 3.11% to HK$26.5, with a turnover of 0.119 billion Hong Kong dollars.
On the news front, Times Electric recently announced that its first-half revenue was 10.284 billion yuan, an increase of 19.99% year-on-year; net income was 1.507 billion yuan, an increase of 30.56% year-on-year. In addition, Times Electric stated that the scheduled use time for the new energy vehicle electric drive system R&D and application project in the IPO's first fundraising project for "Shenzhen New Industries Biomedical Engineering" has been adjusted from 2024 to 2026. Furthermore, Times Electric announced that its subsidiary, Yixing Times Semiconductor, plans to invest in the construction of the mid-to-low-voltage power module capacity building project (Yixing) involving an investment of 0.946 billion RMB, with an expected construction period of 24 months.
Daiwa published a report stating that the management of Times Electric expressed a cautious attitude towards the profit capabilities of power semiconductors at the earnings conference, mainly due to the depreciation expenses of the Yixing wafer fab, based on which the bank expects its stock price to remain weak in the next 3 to 6 months. HSBC, on the other hand, indicated that the IGBT market faces intense competition, with the new business gross margin ranging from 22% to 25%, and the semiconductor gross margin being relatively high; the Yixing production line will be converted to fixed assets in the second half of the year, and depreciation expenses will cause the net profit margin to decrease.