VeriLink Integrated (688469.SH) reports 2023 results, net loss of 1,958 billion yuan

Zhitong Finance App News, Xinlian Integration (688469.SH) released its 2023 annual report, achieving revenue of 5.324 billion yuan, an increase of 15.59% over the previous year. Achieved a net loss of 1,958 billion yuan attributable to shareholders of listed companies. Achieve a net loss of 2,262 billion yuan attributable to shareholders of listed companies after deducting non-recurring profit and loss.

As of the end of the reporting period, the company had not achieved profits. The main reason was that the company was in the capital-intensive and technology-intensive semiconductor industry, requiring large fixed asset investment and continuous R&D investment to maintain product technology leadership. During the reporting period, the company's R&D investment and fixed asset depreciation amounts were high, which affected the company's net profit performance. At the same time, the company's SiC production line, 12-inch silicon-based wafer production line, and module production line are still in the process of climbing capacity. The product structure is still in the process of continuous optimization, and the scale effect is not fully evident, so the company is still at a loss in the current period. Excluding the impact of factors such as depreciation and amortization, the company's EBITDA (profit before interest, tax, depreciation and amortization) in 2023 was $925 million, an increase of $116 million compared with the same period last year, and an increase of 14.29% over the previous year.