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Public company info - PFC Device Inc. , 08231.HK
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PFC Device Inc., 08231.HK - Company Profile
Chairman Yung Kwok Kee, Billy
Share Issued (share) 121,000,000
Par Currency Hong Kong Dollar
Par Value 0.2
Industry Semiconductors
Corporate Profile Business Summary: The Group is principally engaged in manufacturing and sales of power discrete semiconductors. Performance for the year: Revenue from the Group’s operations for the year ended 31 December 2020 amounted to approximately US$21.1 million, representing an increase of US$3.1 million or 17.2% compared to US$18 million for 2019.Profit attributable to the owners of the Company for the year ended 31 December 2020 was US$0.6 million as compared to a loss attributable to owners of the Company of US$1.4 million in 2019. Business Review: The year 2020 saw a robust V-shaped recovery for the semiconductor industry. Worldwide stay-at-home measures resulted in strong demand for TV, gaming, and computing systems (such as PC, laptops, tablet, and servers) to support home-based working, learning, and entertainment. As a result, the Group experienced an increase of 17.2% in revenue and 88.5% in gross profit over the year. Demand outstripped supplies as the Group’s revenue was limited by the wafer output capacity of the Group's partnered foundries. Production output at the Shunde factory was impacted in Q1 due to Covid-19 lock-down and the extended CNY closure and it resumed back to normal with minimal impact for the remaining year. As such, the Group’s revenue for the first two months of 2020 was affected, resulting in a drop by approximately 33% compared to similar period in 2019. As a result of the stay-at-home order in many countries surged the demand for consumer electronics products, the Group’s annual total revenue for 2020 increased by US$3.1 million. With previously implemented cost and expenses control measures along with higher overall production utilization rate at the factory resulted in a gross margin improvement of 8.8% from the prior year period. Prospects: The Group forecast 2021 to be a strong growth year for the semiconductor industry. Major growth comes from 5G and AI computing devices and the Group expect that demand will continue to outstrip supplies. As such, a major challenge for the Group is to ensure sufficient wafer supplies for the year. The Group is currently exploring and qualifying additional foundry which the Group hope to bring into production in Q2. With China being able to control the spread of the coronavirus and as more people are getting vaccinated, the Group does not expect the coronavirus will have much negative impact to the Group's business and operations. Suppliers and customers of the Group are principally located across China while a majority of the Group's customers’ completed end products are exported to the US and Europe. The Directors consider the business environment to remain challenging. In addressing the adverse impact resulted from any uncertainties, the Group will endeavor to identify areas for cost savings and devote resources to enhance productivity and operating efficiencies.

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