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On August 16, Suzhou Kema Materials Technology Co., Ltd. (hereinafter referred to as "Kema Technology" or "the Company", stock code: 301611) officially landed on the Growth Enterprise Market and was listed. This means that Kema Technology, as a leader in the domestic advanced ceramics industry, has officially entered the capital market and become a member of the listed company. As of the morning close of August 16, Kema Technology's stock price was 37.75 yuan per share, a surge of more than 370%.

Kema Technology's main business is the research and development, manufacturing, sales, and service of advanced ceramic material components and surface treatment services for pan-semiconductor equipment. Its main products and services include advanced ceramic material components, surface treatment, and metal structure components.

In recent years, the domestic market demand for advanced ceramics has continued to expand. In 2021, the scale of China's advanced ceramics market reached 89 billion yuan, accounting for about 23% of the global market; the scale of China's advanced structural ceramics market was 18.9 billion yuan, accounting for 21% of China's advanced ceramics market. Frost & Sullivan expects that the compound growth rate of China's advanced structural ceramics market will be 11% from 2022 to 2026, and the market space is broad.

Among them, Kema Technology is in a leading position in the industry in terms of scale. According to Frost & Sullivan data, in 2021, Kema Technology accounted for about 14% of the total procurement scale of advanced structural ceramics for domestic semiconductor equipment in mainland China, and about 72% of the total supply scale of domestic advanced structural ceramics suppliers for domestic semiconductor equipment in mainland China. At the same time, it is also one of the few advanced structural ceramic companies in China that has a variety of ceramic materials and products certified by the international leading semiconductor equipment manufacturer Company A.

Riding on the wave of development and localization of the semiconductor industry, Kema Technology's performance has shown strong growth potential. According to public information, the company's operating income in 2021, 2022, and 2023 will be 345 million yuan, 462 million yuan, and 480 million yuan, respectively, and its net profit attributable to the parent company will be 67 million yuan, 93 million yuan, and 82 million yuan, respectively.

In terms of gross profit margin, the gross profit margin of Kema Technology's main business in 2021, 2022 and 2023 will be 43.02%, 42.18% and 39.67% respectively. Overall, the company's main business gross profit margin is relatively high and has strong profitability.

Entering 2024, the company's performance still maintains a high growth trend. According to the listing announcement, in the first half of 2024, the company achieved operating income of 385 million yuan, a year-on-year increase of 64.27%; realized net profit attributable to the parent of 139 million yuan, a year-on-year increase of 308.89%; realized net profit attributable to the parent of 136 million yuan, a year-on-year increase of 305.56%. The company's profits have increased significantly mainly due to years of technological accumulation and research and development layout. The company's core components of semiconductor equipment, ceramic heaters, have achieved domestic substitution. This type of module products solves the "neck" problem of key components of CVD equipment of downstream wafer manufacturers. Downstream customers have strong demand for such products, generating higher returns.

For the funds raised this time, Kema Technology plans to use them for advanced material production base projects, pan-semiconductor core component processing and manufacturing projects, R&D center construction projects and to supplement working capital, all of which are arranged around the main business.

The company said that in the future, in the pan-semiconductor field, it will further strengthen the layout of "bottleneck" products in the industry chain, focus on R&D breakthroughs in 12-inch electrostatic chucks and ultra-high purity silicon carbide kits, and further improve ceramic heaters and 8-inch electrostatic chuck products. In areas other than pan-semiconductors, Kema Technology plans to improve and improve the material system, explore cross-domain application-related technologies for materials, and promote the further expansion of downstream application areas to medical devices, electronic communications, automobiles, chemical environmental protection, and new energy.

As a leading domestic company in advanced ceramic materials and components, Kema Technology has continuously broken through the core technological difficulties that have "choked" the industry, filling the gaps in the domestic industry for a time, and many of its core technical indicators have reached the international mainstream level.

Looking ahead, Kema Technology said that the company will continue to invest funds and human resources to strengthen the construction of the R&D team, continuously break through the technical bottlenecks of mid-to-high-end products, promote the process of domestic substitution of advanced ceramics, and create value for customers. (CIS)

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