Corelink Integrated (688469.SH) is expected to increase its revenue by 22.26% and reduce its loss by approximately 50.51% in 2024. Revenue from 12-inch silicon wafer is expected to increase more than 10 times.

Xinlian Integrated (688469.SH) announced that, according to preliminary calculations by the financial department, it is expected to achieve operating income of approximately 6.509 billion yuan in 2024, an increase of approximately 1.185 billion yuan compared to the same period last year, with a year-on-year growth of approximately 22.26%. Among them, the main operating income is expected to be approximately 6.276 billion yuan, with a year-on-year growth of approximately 27.79%. It is expected to achieve a net profit attributable to the owners of the parent company of approximately -969 million yuan in 2024, a decrease of approximately 989 million yuan compared to the same period last year, with a year-on-year decrease of approximately 50.51%. It is expected to achieve a net profit attributable to the owners of the parent company after deducting non-recurring gains and losses of approximately -1.387 billion yuan in 2024, a decrease of approximately 875 million yuan compared to the same period last year, with a year-on-year decrease of approximately 38.68%. During the reporting period, the company achieved a main operating income of approximately 6.276 billion yuan, a year-on-year increase of approximately 27.8%; among them, income in the automotive field increased by approximately 41.0% year-on-year, and income in the consumer field increased by approximately 66.0% year-on-year. In terms of product structure, the company's new products such as SiC MOSFET and 12-inch silicon wafers were quickly introduced and mass-produced by top customers. The second growth curve composed of SiC MOSFET chips and modules and the third growth curve in the direction of analog ICs mainly based on high-voltage, high-power BCD processes grew rapidly, leading to a rapid increase in the company's operating income. The company's 12-inch silicon wafer products achieved an income of approximately 791 million yuan, a year-on-year increase of approximately 1457%. Based on the automotive-grade BCD platform, the company has international leading BCD process technology and level, making it one of the most complete enterprises in this field in China. Benefiting from the development of electrification, intelligence, and connectivity, the company continued to maintain its leading edge in product and technology in the silicon carbide business, expanding to multiple OEM and Tier1 customers in the automotive and industrial control fields at home and abroad, achieving large-scale production, and becoming one of the few globally to have achieved large-scale production of silicon carbide chips and modules Suppliers. In 2024, the company's silicon carbide business achieved an income of approximately 1.016 billion yuan. During the reporting period, the net profit attributable to the owners of the parent company was approximately -969 million yuan, a significant decrease of approximately 50.5% year-on-year; achieving EBITDA of approximately 2.119 billion yuan, a year-on-year increase of approximately 129.1%; the company's gross profit margin for the year was approximately 1.1%, a year-on-year increase of approximately 7.9 percentage points, achieving a positive gross profit margin for the first time in a year; the EBITDA profit margin was approximately 32.6%, a year-on-year increase of approximately 15 percentage points. In 2025, the demand for new energy vehicles is expected to continue to expand under the policy drive of replacing old cars and the integration demand brought by the intelligence and electrification of vehicles. The company's first-mover advantage in product and technology reserves will gradually be released, providing assurance for the continuous growth of future income. At the same time, with the further improvement of the company's lean production management, continuous optimization of cost structure, and the gradual depreciation of the 8-inch wafer production line equipment, the company's profitability will continue to improve.