On April 20th, Tony Electronics released its first quarter earnings report for 2018, achieving revenue of 295 million yuan, a year-on-year increase of 211%, and a net profit of 87.935 million yuan, a year-on-year increase of 403%. The main reason for the four-fold increase in net profit was the rapid development of Dongni Electronics' high-margin diamond business.
From the industry perspective, the 100% application of the diamond wire in the polysilicon chip slicing is expected to be completed in the first quarter, that is, in 2018, the demand for monocrystalline silicon wafers and polycrystalline silicon wafers for the diamond wire is superimposed, and the concentration of the diamond wire industry is continuously increasing. Interest rates remain high and industry leaders will fully benefit.
Tony Electronics has achieved annual production capacity of 8 million KM through self-retrofit equipment expansion and bidding for new plant land. It is expected that with the 18-year diamond line volume, Tony Electronics’ performance will rise sharply and revenue will reach 1.92 billion yuan.
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