Tuojing Technology (688072) disclosed the 2024 annual performance express report on the evening of February 27, and the company achieved operating income of 4.103 billion yuan in 2024, a year-on-year increase of 51.7%; the net profit was 688 million yuan, a year-on-year increase of 3.91%; deducted non-net profit of 356 million yuan, a year-on-year increase of 14.2%.

Tuojing Technology is a leading enterprise in domestic mass production of thin film deposition equipment and hybrid bonding equipment such as PECVD (plasma-enhanced chemical vapor deposition), ALD (atomic layer deposition), SACVD (sub-atmospheric chemical vapor deposition), HDPCVD (high-density plasma-enhanced chemical vapor deposition), ultra-high aspect ratio trench filling CVD, etc. At present, Tuojing Technology has formed two product series: semiconductor thin film deposition equipment and hybrid bonding equipment. The semiconductor thin film deposition equipment focused on by Tuojing Technology, together with the lithography machine and etching machine, constitute the three main equipment of chip manufacturing.

Thanks to Tuojing Technology's continuous efforts to promote product research and development and industrialization, the core technology and key performance indicators of the company's mature products have reached the international advanced level of similar equipment, and are widely used in clients. From 2021 to 2023, Tuojing Technology's R&D investment will be 288 million yuan, 379 million yuan and 576 million yuan respectively, and R&D investment will account for 38.04%, 22.21% and 21.29% of operating income respectively. In the first three quarters of 2024, Tuojing Technology invested 481 million yuan in R&D, a year-on-year increase of 35.73%.

From the perspective of the main factors affecting the operating performance of Tuojing Technology in 2024, facing the opportunities brought by the rapid development of the domestic integrated circuit industry, the company, as a leading enterprise in the field of high-end semiconductor equipment in China, continues to focus on the independent research and development and industrialization of thin film deposition equipment and hybrid bonding equipment, and relies on its core competitive advantages in product technology innovation, customer resources, after-sales service, etc., PECVD, ALD, SACVD, HDPCVD, Flowable The mass production scale of CVD and hybrid bonding equipment and other series of products continues to expand, and the company continues to obtain customer orders, and the company's business scale is growing rapidly.

In addition, Tuojing Technology has always maintained high-intensity R&D investment, adhered to independent innovation, and achieved important results in the process of promoting new product research and development, product industrialization and iterative upgrading of various product series, including Flowable CVD equipment, PECVD Bianca process equipment, PE-ALD SiN process equipment, HDPCVD FSG, HDPCVDSTI process equipment, A series of new products and new processes, such as bonding registration accuracy measurement equipment, have been verified and introduced by downstream users and have been industrialized. At the same time, the new equipment platform PF-300M, PF-300T Plus and the new reaction chamber Supra-D ACHM, ONO Stack and other process equipment continue to receive repeated orders from customers, achieving large-scale shipments, further improving the company's product performance and core competitiveness.

In 2024, Tuojing Technology will ship more than 1,000 equipment reactors, setting a new annual high in the company's history.

Tuojing Technology has previously said that with the successive launch of the company's advanced products, the company's business scale has gradually expanded, the product layout has gradually improved, customer recognition has continued to rise, and the products have been successfully applied to the production lines of industry-leading integrated circuit manufacturing enterprises, and equipment shipments have increased significantly.

Talking about the reason for the 51.7% year-on-year increase in operating income in 2024, Tuojing Technology said that it is mainly due to the continuous growth of market demand, the company's new products and new process orders have successively achieved revenue transformation, and operating income continues to grow rapidly.