Sawei Electronics completes the sale of control rights of Swedish Silex, with net profit attributable to the parent turning from loss to profit, soaring by 966.77%

On March 26, Saiwei Electronics disclosed its 2025 annual report. During the reporting period, the company achieved operating revenue of 824 million yuan, a decrease of 31.59% compared to the previous year; the net profit attributable to shareholders of the listed company was 1.473 billion yuan, a significant increase of 966.77% compared to the previous year; the net profit attributable to shareholders of the listed company, after deducting non-recurring gains and losses, was a loss of 342 million yuan, a significant decrease of 79.30% compared to the previous year. At the end of this reporting period, the company had total assets of 8.939 billion yuan, an increase of 27.50% compared to the beginning of the period; the equity attributable to shareholders of the listed company was 6.734 billion yuan.

Regarding this performance, the company explained in the annual report that the substantial increase in net profit attributable to shareholders of the listed company compared to the same period last year was mainly due to the completion of the sale of control over the former wholly-owned subsidiary, Sweden Silex, in July 2025. After the completion of this equity transaction, Sweden Silex transitioned from a wholly-owned subsidiary to an associated subsidiary of the company; at the same time, the sale of control over Sweden Silex also significantly impacted the MEMS pure foundry revenue and overall operating revenue during this reporting period. From 2023 to 2025, the revenue from Sweden Silex accounted for 85.56%, 82.69%, and 77.72% of the company’s MEMS business revenue, respectively. After the sale of control, the revenue from Sweden Silex will no longer be included in the company’s consolidated results, which will lead to a significant decrease in the scale of the company’s MEMS business revenue under static conditions.

The company stated that in recent years, the international geopolitical environment has undergone profound changes, highlighting the strategic position of the semiconductor industry in global competition, and the uncertainties facing Sweden Silex have significantly increased. If it continued to maintain its controlling position, the geopolitical risks faced by its business operations could rise, including but not limited to potential challenges in maintaining stable cooperation with key customers and supplier partners, and the resulting operational risks and value impairment risks for Sweden Silex. After careful consideration, the company decided to sell control of Sweden Silex while retaining a minority stake. This significant asset sale was completed in July 2025, with Sweden Silex transitioning from a wholly-owned subsidiary to an important associated subsidiary.

In terms of wafer fab layout, during the reporting period, the company had a MEMS wafer factory in Beijing Yizhuang that was completed and operational, featuring an 8-inch production line; in July 2025, the company sold control of its 8-inch MEMS production line in Stockholm, Sweden; the 8-inch MEMS packaging and testing production line in Beijing Yizhuang was completed by the end of the reporting period. The Beijing Yizhuang MEMS mass production line will continue to push capacity from the current 15,000 pieces/month to a phased target expansion of 30,000 pieces/month in an orderly manner while significantly expanding wafer types and customer fields; in addition, the company is steadily advancing the construction work of the MEMS pilot line in Huairou.

Regarding the construction of wafer fabs and production lines, as of the end of the reporting period, the Yizhuang MEMS mass production line had achieved the first-phase scale capacity (10,000 pieces/month) while continuing to carry out the construction of the second-phase scale capacity (20,000 pieces/month), with the latest achievement of 15,000 pieces/month capacity, maintaining a phased targeted gradual expansion of capacity; due to planning for a new 12-inch MEMS production line within its own semiconductor industrial park, Sweden Silex (which was removed from the balance sheet in July 2025) maintained its current 8-inch MEMS production line capacity unchanged; in addition, the company is preparing to establish a MEMS pilot line in Huairou. During the reporting period, the Beijing Yizhuang MEMS mass production line achieved mass production of products such as silicon microphones, and is conducting small-batch trial production of gas and other MEMS devices, while actively advancing the development of processes for MEMS chips, devices, and modules related to pressure, silicon photonics, etc., moving from process development to verification, trial production, and mass production stages. The company’s MEMS packaging and testing production line achieved full-line connectivity by the end of the reporting period and is currently in the initial stages.

In addition, regarding IC design service business, during the reporting period, the company actively laid out the industrial ecosystem and related businesses around semiconductor manufacturing, completing the acquisition of 56.24% equity in Zhan Cheng Technology in September 2025. After this transaction, the company holds a total of 61.00% equity in Zhan Cheng Technology, and through this transaction, the company expanded its IC design service business while also engaging in a small amount of parasitic parameter extraction EDA software development and providing technical support related to parasitic parameter extraction and analysis to customers.

In terms of profit distribution, the company intends to distribute a cash dividend of 3.70 yuan (including tax) for every 10 shares to all shareholders based on 732 million shares, without issuing bonus shares or converting capital reserves into share capital.