“Science and Technology Innovation Board Daily”, October 30 (Reporter Guo Hui) Baiwei Storage released its financial report for the third quarter of 2024 this evening (October 30).

According to the data, the company's total revenue for the first three quarters was 5.025 billion yuan, up 136.76% year on year; net profit to mother was 0.228 billion yuan, up 147.13% year on year.

Looking at a single quarter, in the third quarter of this year, its revenue was 1.584 billion yuan, up 62.64% year on year, but decreased 7.57% from the second quarter; net profit to mother was -55.24 million yuan, which is a sharp decrease from the loss in the same period last year, but turned into a loss compared to the second quarter.

Baiwei Storage said that the storage industry recovered in the first three quarters of this year, and the company closely grasped the upward opportunities in the industry, vigorously expanded first-line customers at home and abroad, achieved breakthroughs in market and business growth, and saw a sharp increase in product sales over the same period last year.

Meanwhile, Baiwei Storage said that its product prices rebounded year on year, so the comprehensive gross margin increased 25.99 percent year over year in the first three quarters.

Regarding the reason why its Q3 net profit to mother turned month-on-month loss, according to financial reports, it was mainly due to the sharp increase in the company's R&D investment in the third quarter, while share payment fees were high.

This year, Baiwei Storage continued to increase R&D investment in the fields of solution development, chip design, advanced packaging and testing equipment. The company spent 0.339 billion yuan on R&D in the first three quarters, up 123.63% year on year, of which R&D expenses for the third quarter were 0.129 billion yuan, up 71.82% year on year.

Its share payment fee for the first three quarters of this year was 0.297 billion yuan, and net profit to mother for the first three quarters after excluding share payment fees was 0.525 billion yuan, an increase of 208.44% over the previous year. Among them, the share payment fee for the third quarter was 99.348 million yuan, the net profit returned to mother for the third quarter after excluding share payment fees was 44.1035 million yuan, and 0.0.1158 billion yuan for the second quarter of this year.

On October 9 of this year, Baiwei Storage plans to raise 1.9 billion yuan for a fixed increase project accepted by the exchange. Recently, its review status was changed to an inquiry. According to information, the fixed increase will mainly be used for the Huizhou Baiwei Advanced Packaging and Testing and Memory Manufacturing Base production expansion construction project and the wafer-level advanced sealing and testing manufacturing project. It is planned to raise 0.88 billion yuan and 1.02 billion yuan respectively.

Baiwei Storage said that wafer-level advanced packaging technology is an inevitable requirement for the development of advanced memories. At the same time, the wafer-level advanced packaging market has a lot of room for growth, and it is also an important part of the semiconductor industry in the Greater Bay Area that needs to be strengthened urgently.

According to Yole's forecast, the global advanced packaging market is expected to reach 65 billion US dollars in 2027, with an annualized compound growth rate of 9.6% between 2021 and 2027. Compared with traditional packaging, the application of advanced packaging is constantly expanding, and it is expected that advanced packaging will account for more than 50% of the total packaging market by 2026.

When surveyed by the agency in September of this year, Baiwei Storage said that the company has developed advanced packaging technologies including multi-layer high-density linewidth RDL technology, small-pitch uBump, and 3D stacking in terms of the technical capabilities required for wafer-level advanced packaging and testing manufacturing projects. The project is still in the early stages of investment and is under construction. It is expected to be put into operation in 2025 to provide customers with a complete set of advanced packaging testing solutions.

In terms of shareholder changes in the third quarter, among the top ten shareholders, Huaxia Shanghai Securities Science and Technology Innovation Board 50-component ETF and E-Fangda Shanghai Science and Technology Innovation Board increased their holdings by 36.19% and 26.82%, respectively, over the second quarter; surpassed Moore Fund and Zhuhai Hongtu Zhanlu Equity Investment Partnership reduced their holdings in Q3.