Silicon Craft participated in mai FORUM 2024 Opportunity x Growth

Following the mai FORUM 2024: Opportunity x Growth, held on June 22, 2024, at Centara Grand Bangkok Convention Centre at CentralWorld, which received a good response from analysts, investors, and interested parties. We had a chance to introduce our company, updated on the latest performance, and demonstrations of the company’s products in all four groups.

Silicon Craft Technology Public Company Limited is the first and only Thai technology company listed on the Stock Exchange of Thailand that designs, researches, and develops microchips for RFID devices or radio frequency identification. The company designs integrated circuits, outsources manufacturing and assembly, and sells microchips under the company’s brand, SIC. The company is an upstream player in the semiconductor industry.

For the company’s first-quarter performance of 2024, revenue reached 205.2 million baht, a decrease of 6% compared to the high revenue base in Q1/2023. The majority of Q1/2024 revenue came from the animal identification group. However, the company achieved a 45% increase in revenue compared to the previous quarter. The gross profit margin was 43%, decreasing slightly YoY and QoQ, due to higher costs and a changing product mix. Nevertheless, the company strives to maintain the gross profit margin in 2024 at mid-40s range.

Net profit was 47.8 million baht, a decrease of 20% from the same period last year, partly due to increased research and development expenses to support the continuous launch of new products according to the company’s plan to create long-term growth. However, Q1/2024 net profit increased by 146% QoQ, in line with the increase in revenue compared to the previous quarter.

The revenue structure by product group in Q1/2024 was as follows: animal identification accounted for 55%, Immobilizer accounted for 12%, Industrial IoT accounted for 32%, and NFC and other accounted for 1%.

Additionally, the event featured product demonstrations by expert engineers, starting with animal identification microchips. These microchips are embedded in electronic animal registration tags used in the livestock industry for recording information about each animal, such as breed, feeding quantities, and vaccination history.

For the second group, Immobilizer microchips are embedded in backup car keys, featuring encrypted security embedded in the key (similar to RFID devices). After unlocking the car, the engine can only start after receiving the correct authentication command from the RFID reader, a control box attached to the car, enhancing security and preventing car theft.

Microchips for Industrial IoT can be used in various ways, such as access control systems for buildings, which consist of a card (with a chip) and a reader at entry and exit points. The reader records entry and exit data and integrates with security systems, unlocking doors only when receiving the correct authentication command. There were also demonstrations of industrial applications, such as tracking the movement of wafers in a semiconductor production line.

Lastly, Advanced NFC, demonstration examples included NFC for anti-counterfeit protection of luxury brand products, allowing users to verify product authention with a mobile phone, and NFC sensor, such as a Water Card for testing drinking water safety, and a Name Card allowing recipients to receive the giver’s information by tapping the card with a mobile phone, replacing traditional paper business cards.