Financial Performance - Revenue for the year ended December 31, 2024, was RMB 10,129.1 million, representing a year-on-year increase of 14.3% compared to RMB 8,863.4 million in 2023[13] - Gross profit decreased by 13.6% to RMB 889.4 million from RMB 1,029.9 million in the previous year[13] - Profit for the year was RMB 273.5 million, down 14.5% from RMB 319.9 million in 2023[13] - Earnings per share (EPS) decreased to RMB 0.139 (basic) and RMB 0.138 (diluted), reflecting a decline of 9.7% and 10.4% respectively compared to the previous year[13] - The Group recorded revenue of approximately RMB10,129.1 million, representing an increase of approximately 14.3% compared to RMB8,863.4 million for the same period in 2023[27] - Gross profit was approximately RMB889.4 million, reflecting a year-on-year decrease of approximately 13.6%[29] - Profit from operations was approximately RMB427.9 million, representing a year-on-year decrease of approximately 14.5%[29] - Net profit after tax was approximately RMB273.5 million, marking a year-on-year decrease of approximately 8.0%[29] - Profit attributable to equity shareholders of the Company was approximately RMB189.9 million, down by approximately RMB20.8 million from RMB210.7 million in 2023[69] - Other income, gains, and losses for the year ended December 31, 2024, were approximately RMB24.1 million, a decrease of approximately 54.4% from RMB52.9 million in 2023[73] Market Trends and Opportunities - The company is focusing on the integration of AI technology and the physical economy, anticipating sustained high demand for chips[20] - Comtech is actively participating in the global computing power network, enhancing chip solutions through self-developed AI technologies and large language models[18] - Global chip sales reached a record high of US$627.6 billion in 2024, with a year-on-year increase of 19.1%[31] - The Americas, China, and Asia Pacific regions saw annual chip sales increases of 44.8%, 18.3%, and 12.5%, respectively[31] - The World Semiconductor Trade Statistics (WSTS) predicts global chip sales will rise to US$697.2 billion in 2025, an annual increase of 11.2%[31] - The global AI market spending is projected to reach $632 billion by 2028, with a CAGR of approximately 29.0%[44] - China's AI industry market demand is estimated to reach RMB5.6 trillion by 2030, with total investment projected to exceed RMB10 trillion between 2024 and 2030[44] Strategic Initiatives - The company plans to expand its international cooperation and strategic investment opportunities to enhance market competitiveness[21] - The Group aims to enhance market competitiveness through international cooperation and strategic investment opportunities[24] - The Group is focused on five major fields downstream, including smart vehicles and digital infrastructure, to leverage synergy advantages[23] - The Group aims to strengthen innovation and technology investment to improve customer loyalty and satisfaction[21] - The Group plans to pursue strategic partnerships and acquisitions to enhance business operations and expand its user and revenue base[62] - The Group aims to develop new complementary services to improve customer service and increase repeat purchase rates among newly acquired customers[61] Research and Development - The Group has developed a proprietary smart battery management system to optimize battery performance in the new energy sector[22] - Comtech has developed proprietary AI technology and LLMs, enhancing product performance and reliability through intelligent and automated solutions in chip selection and system integration[36] - Ingdan focuses on the research and development of AIoT intelligent hardware products and smart new energy batteries, enhancing battery efficiency and intelligence[175] - The company has a strong emphasis on research and development, particularly in AI technology and supply chain management services[172] Operational Efficiency - Comtech's intelligent supply chain management has improved operational efficiency while reducing costs through AI and big data analytics[36] - Continuous investment in customer service, order fulfillment, and delivery capabilities is planned to improve service reliability and response times[59] - Selling and distribution expenses increased to approximately RMB186.2 million, an increase of approximately RMB10.5 million or 6.0% from RMB175.7 million in 2023[74] - Research and development expenses rose by approximately RMB1.5 million or 1.5% to approximately RMB104.1 million for the year ended December 31, 2024, driven by increased spending on IC chip distribution and AIoT products[82] Governance and Management - The Group's founder and CEO, KANG Jingwei, has over 25 years of experience in the Internet multimedia and electronic component distribution industry[144] - The CFO, WU Lun Cheung Allen, has over 20 years of experience in auditing and commercial consulting, previously serving as Vice President of Finance at Viewtran[146] - The Group's independent non-executive director, YE Xin, has served as CTO of a leading wireless entertainment service provider from 2003 to 2006[151] - Independent non-executive director, Dr. MA Qiyuan, has over 30 years of R&D management experience and holds 30 patents[152] - The Group's management team includes individuals with advanced degrees in finance and engineering, contributing to its strategic initiatives[149][153] - The Group has a diverse board with expertise in various sectors, including technology, finance, and healthcare[151][152] Risks and Challenges - Key risks and uncertainties facing the Group are outlined, indicating potential challenges beyond the company's control[192][193] - The company derives substantially all of its revenue from purchases made by companies in China engaged in electronics manufacturing, making it vulnerable to adverse factors affecting this industry[194] - Intense competition in the Chinese electronic components procurement market is anticipated, particularly as the company develops its e-commerce platform to attract and retain customers[194] - Credit facilities provided to customers expose the company to credit risks, with collateral values potentially fluctuating due to market conditions[198] - Unforeseen external events such as political instability or economic recession could significantly impact the credit facilities available to the company, stressing its cash position[198] Corporate Developments - The company entered into a subscription agreement to issue 250,000,000 subscription shares at a price of HK$1.30 each, totaling HK$325,000,000[124] - The subscription shares represent approximately 17.93% of the existing issued share capital as of the subscription announcement date[124] - The total issued shares increased from 1,394,262,732 to 1,519,262,732 shares after the first tranche completion on February 20, 2025[129] - Following the second tranche completion on March 3, 2025, the total issued shares further increased to 1,644,262,732 shares[129] - The Group's pledged bank deposits were approximately RMB231.5 million and RMB287.7 million as of December 31, 2024, and December 31, 2023, respectively[115] - The Group has complied with all relevant laws and regulations during the year ended December 31, 2024, with no material breaches reported[183] Environmental and Social Responsibility - Environmental initiatives include recycling, energy-saving measures, and donations of old computers, with no penalties for non-compliance with regulations[189] - The Group maintains good relationships with suppliers and customers, with no significant disputes reported during the year[188]

近日，港股上市公司硬蛋创新(00400)发布公告，控股子公司深圳市科通技术股份有限公司（以下简 称"科通技术"）在深圳证监局完成IPO辅导备案。这家专注于芯片应用设计与分销服务的公司，正试图 通过重启IPO的方式，寻找新的市场突破口。 这是科通技术第二次冲击资本市场。2022年，公司曾向深交所创业板提交上市申请，然而，在上会前夕 因审核事项被取消审议，2024年4月主动撤回材料，IPO宣告终止。彼时，估值飙升等问题受到深交所 重点问询。 曾因估值飙升遭问询 作为港股上市公司硬蛋创新（00400.HK）分拆出的核心子公司，科通技术自2005年成立以来，深耕芯 片应用设计与分销服务。 公开资料显示，公司与全球超过100家芯片原厂的合作，已获得Xilinx（赛灵思）、Intel（英特尔）、 Sandisk（闪迪）、Micron（镁光）、OSRAM（欧司朗）、Microchip（微芯）、Skyworks（思佳讯）、 AMD（超威半导体）等国际知名原厂，以及瑞芯微、全志科技、兆易创新等国内原厂的产品线授权。 智能汽车、数字基建、工业互联、能源控制、大消费等领域，皆有科通技术的芯片产品广泛应用。 科通技术的IPO之路始于 ...

Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately RMB 10,129.1 million, representing a 14.3% increase compared to RMB 8,863.4 million in the same period of 2023[6]. - Gross profit decreased to approximately RMB 889.4 million, down 13.6% year-on-year from RMB 1,029.9 million[6]. - Operating profit was approximately RMB 427.9 million, reflecting an 8.0% decrease from RMB 465.4 million in the previous year[6]. - Net profit for the year was approximately RMB 273.5 million, a decline of 14.5% compared to RMB 319.9 million in 2023[6]. - The earnings attributable to equity shareholders of the company were approximately RMB 189.9 million, down 9.9% from RMB 210.7 million in the prior year[6]. - The company's revenue for the year ended December 31, 2024, was approximately RMB 10,129.1 million, an increase of about RMB 1,265.7 million or approximately 14.3% compared to RMB 8,863.4 million in 2023[26]. - The gross profit for the year ended December 31, 2024, was approximately RMB 889.4 million, a decrease of about 13.6% from RMB 1,029.9 million in 2023, with the gross margin dropping from 11.6% to 8.8%[28]. - The company's net profit for the year ended December 31, 2024, was approximately RMB 273.5 million, a decrease of about RMB 46.4 million from RMB 319.9 million in 2023[25]. - The profit attributable to equity shareholders for the year ended December 31, 2024, was approximately RMB 189.9 million, a decrease of about RMB 20.8 million or approximately 9.9% compared to RMB 210.7 million in 2023[35]. - The group reported a total segment profit of RMB 497,122,000 for 2024, with KOTON Technology at RMB 366,130,000 and HEDAN Technology at RMB 130,992,000[70]. - The group’s net profit attributable to shareholders for 2024 was RMB 189,854,000, compared to RMB 210,700,000 in 2023, indicating a decrease of about 9.9%[75]. Market Focus and Strategy - The company is focusing on the AI and IoT sectors, leveraging its proprietary AI technology and large language models to provide advanced chip application solutions and efficient supply chain management services[7]. - The company aims to capitalize on the growing demand for high-performance computing chips driven by AI applications and cloud computing infrastructure upgrades[9]. - The company is developing a smart battery management platform for the new energy sector, targeting the rapidly growing market for two-wheeled vehicle battery swapping and re-utilization[12]. - The company has established partnerships with over 80 leading chip manufacturers, including Nvidia, AMD-Xilinx, and Intel, to enhance its product offerings in the AI computing supply chain[9]. - The group aims to enhance revenue sources by focusing on new energy smart battery cloud services, particularly in the two-wheeler battery cloud service market[18]. - The group plans to develop an open and prosperous ecosystem for the electronic manufacturing value chain, which includes supply chain financing and cloud computing services[20]. - The group intends to increase customer loyalty and procurement volume by utilizing advanced market analysis tools to provide more efficient online and offline platforms[21]. - The group will leverage its technology service platform to continuously enhance chip application solution designs to meet the high-performance chip demand in the AI supply chain[17]. - The group is committed to accelerating the expansion of the AI industry chain by integrating its subsidiaries' capabilities in technology and services[17]. - The group aims to create a closed-loop industry ecosystem of "chip-end-cloud" to meet the demands of the AI industry chain[18]. - The group plans to monetize the data collected from customers and suppliers to provide data-driven services, enhancing its service offerings[20]. Financial Position and Assets - As of December 31, 2024, the group's current assets were approximately RMB 6,740.0 million, with cash and bank balances at RMB 839.7 million, inventories at RMB 3,510.5 million, and trade and other receivables at RMB 2,380.7 million[36]. - The current ratio as of December 31, 2024, was 1.41, down approximately 6.6% from 1.51 as of December 31, 2023[36]. - Capital expenditures for the year ended December 31, 2024, were approximately RMB 31.0 million, a decrease of about RMB 137.0 million or approximately 81.5% from RMB 168.0 million in 2023[38]. - The net debt-to-equity ratio as of December 31, 2024, was approximately 27.8%, up from 25.1% as of December 31, 2023, primarily due to an increase in bank loans during the reporting period[39]. - As of December 31, 2024, the group had no significant contingent liabilities[46]. - The group had no major investments during the reporting period, including any investments in companies valued at 5% or more of the total assets[40]. - The group had no major acquisitions or disposals during the reporting period, except for the repurchase of equity in Shenzhen Keton Technology[42]. - The total assets decreased from RMB 7,591,537,000 in 2023 to RMB 6,739,997,000 in 2024, reflecting a reduction of approximately 11.3%[52]. - The company’s total liabilities decreased from RMB 5,027,572,000 in 2023 to RMB 4,781,189,000 in 2024, a decline of about 4.9%[52]. Governance and Compliance - The company has adopted strict corporate governance principles and has complied with all applicable codes in the Corporate Governance Code, except for the separation of the roles of Chairman and CEO, which are currently held by the same individual[82]. - The management has not provided monthly updates to the board as required but has shared quarterly business information to keep the board informed of the company's performance and outlook[83]. - The audit committee, consisting of three independent non-executive directors, has reviewed the company's annual performance for the year ending December 31, 2024[86]. - There are no significant litigations or arbitrations involving the company as of December 31, 2024[89]. - The board does not recommend the distribution of a final dividend for the year ending December 31, 2024[90]. - The annual report for the year ending December 31, 2024, will be published on the company's website and the Hong Kong Stock Exchange website[92]. Other Financial Metrics - Research and development expenses for the year ended December 31, 2024, were approximately RMB 104.1 million, an increase of about 1.5% from RMB 102.6 million in 2023[31]. - Administrative and other operating expenses for the year ended December 31, 2024, were approximately RMB 221.7 million, a decrease of about 29.6% from RMB 315.0 million in 2023[32]. - The company recorded other income, gains, and losses of approximately RMB 24.1 million for the year ended December 31, 2024, a decrease of about 54.4% from RMB 52.9 million in 2023[29]. - The company reported a foreign exchange gain of RMB 67,742,000 in 2024, compared to a loss of RMB 5,296,000 in 2023[51]. - The group’s financial costs rose to RMB 125,260,000 in 2024 from RMB 109,295,000 in 2023, an increase of approximately 14.7%[72]. - The company did not declare or recommend any dividends for the fiscal year ending December 31, 2024[73]. - The average credit period granted by the group remained at 30 days for both 2024 and 2023[79].

科通技术的实际控制人为康敬伟，截至2023年3月31日，康敬伟通过Envision Global Investments Limited 持有硬蛋创新 46.63%股份，直接持有硬蛋创新0.13%股份，合计可控制硬蛋创新 46.76%股份，且康敬 伟担任硬蛋创新的董事会主席兼首席执行官。硬蛋创新为香港联交所上市公司，康敬伟为硬蛋创新实际 控制人。硬蛋创新通过Ingdan Group, Inc、Alphalink Global Limited间接持有公司66.84%股份，公司为硬 蛋创新控股子公司，因此康敬伟为科通技术实际控制人。 康敬伟任科通技术董事长，李宏辉任总经理。两人在此前招股书中披露的履历如下： 康敬伟，男，1970 年生，中国香港籍，于1991年7月获华南理工大学颁授电气工程理学学士学位，在电 子元器件分销行业拥有逾25年经验。2014年至今担任硬蛋创新的董事会主席兼首席执行官。 李宏辉，1967年出生，中国国籍，拥有中国香港永久居留权，硕士学历。1992年毕业于天津大学电子 系，并获得硕士学位。1992至1995年曾在天津大学任教，1995至1996年任职于三星电子韩国总部研发中 瑞财经 严明会 ...

Financial Performance - The company recorded revenue of approximately RMB 4,321.4 million for the six months ended June 30, 2024, representing an increase of 11.9% compared to RMB 3,863.5 million for the same period in 2023[8]. - Gross profit was approximately RMB 457.6 million, reflecting a year-on-year decrease of 5.1%[8]. - Profit from operations was approximately RMB 228.2 million, a decrease of 7.9% year-on-year[8]. - Net profit attributable to equity shareholders increased by 0.6% to RMB 169.1 million compared to RMB 168.1 million in the previous year[8]. - Earnings per share (EPS) increased by 21.8% to RMB 112.7 compared to RMB 92.5 in the same period last year[8]. - Revenue for the first half of 2024 reached RMB 4,321.4 million, a 11.9% increase from RMB 3,863.5 million in the first half of 2023[24]. - Gross profit decreased to RMB 457.6 million from RMB 482.4 million, reflecting a gross margin of approximately 10.6%[24]. - Profit for the period attributable to owners of the Company increased to RMB 112.7 million, up from RMB 92.5 million in the previous year, representing a 21.5% growth[24]. - Profit attributable to equity shareholders for the Reporting Period was approximately RMB 112.7 million, an increase of approximately RMB 20.2 million or 21.8% compared to approximately RMB 92.5 million for the corresponding period in 2023[34]. - The effective tax rate for the six months ended June 30, 2024, was 5.3%, down from 14.5% for the six months ended June 30, 2023, primarily due to a decrease in profit before tax[34]. Market Trends and Demand - The company benefited from increased demand for AI computing power, which drove the growth in revenue[9]. - The ongoing development of 5G, AI, and IoT technologies is expected to drive steady growth in global chip demand[11]. - The demand for high-performance computing (HPC) chips is increasing due to the growth of AI and next-generation information technologies[11]. - Global chip sales reached $149.9 billion in Q2 2024, marking a year-on-year increase of 18.3% and a quarter-to-quarter growth of 6.5%[11]. - In June 2024, global chip monthly sales reached $50 billion, with a year-on-year increase of 22.9% and a month-on-month increase of 1.7%[11]. - China's chip sales in June 2024 grew by 21.6% year-on-year[11]. - The World Semiconductor Trade Statistics (WSTS) forecasts global chip market sales to reach $611 billion in 2024, reflecting a year-on-year growth of 16.0%[11]. Business Segments and Operations - The core businesses include Comtech, a technology services platform for the chip industry, and Ingdan, which provides AIoT technology and services[9]. - Comtech serves a broad spectrum of sectors including computing centers, data centers, and AI applications, representing over 80 core chip companies[12]. - Comtech has developed proprietary AI technology and a professional knowledge base to enhance product performance and operational efficiency[12]. - Ingdan aims to capture the RMB100 billion market opportunity in the new energy two-wheeler battery replacement industry, focusing on smart battery management and lifecycle data[14]. - The Group's principal activities include sales of integrated circuits (IC), AIoT products, and provision of software licensing and supply chain financing services[113]. Research and Development - Research and development expenses were reduced to RMB 43.6 million from RMB 63.4 million, indicating a focus on cost management[24]. - Research and development expenses for the six months ended June 30, 2024, were RMB 38,943, down from RMB 63,399 in the same period of 2023[141]. Corporate Governance and Compliance - The Company is committed to maintaining stringent corporate governance and has complied with all applicable code provisions, except for C.2.1 and D.1.2 during the Reporting Period[82]. - The roles of chairman and chief executive officer are currently performed by the same individual, which the Board believes ensures consistent leadership and effective strategic planning[82]. - The Company has adopted the Model Code for securities transactions by Directors, and all Directors confirmed compliance during the Reporting Period[85]. - The Audit Committee, consisting of three independent non-executive directors, oversees the Company's financial reporting and risk management systems[86]. - The Company has established a nomination committee and a remuneration committee in addition to the Audit Committee[89]. Shareholder Information - Mr. Kang holds a controlled corporation interest of 650,200,000 shares, representing approximately 46.63% of the shareholding[49]. - The beneficial ownership of Mr. Wu and Ms. Guo is 1,800,000 shares and 600,000 shares, representing approximately 0.13% and 0.04% of the shareholding, respectively[49]. - The Group currently holds approximately 66.84% of Shenzhen Comtech, which will continue to be consolidated into the Group's financial statements[45]. Cash Flow and Financial Position - The company reported a net cash from operating activities of RMB 34,168,000, compared to a net cash used in operating activities of RMB (541,456,000) for the same period in 2023[110]. - The total comprehensive income for the period was RMB (266,131,000) for the six months ended June 30, 2024, compared to RMB 222,113,000 for the same period in 2023[108]. - As of June 30, 2024, total equity amounted to RMB 4,259,540,000, reflecting a decrease from RMB 4,514,720,000 as of January 1, 2024[108]. - The company incurred share-based compensation expenses of RMB 1,940,000 during the reporting period[108]. - The total amount of new bank loans raised during the financing activities was RMB 912,753 thousand, compared to RMB 1,805,694 thousand in the previous year[112]. Employee Information - The total remuneration cost incurred by the Group for the six months ended June 30, 2024, was approximately RMB 74.9 million, an increase from RMB 65.4 million for the same period in 2023[61]. - The Group employed a total of 588 employees as of June 30, 2024, compared to 586 employees a year earlier[60]. - The Group's employee remuneration policy is periodically reviewed based on industry practices and individual performance assessments[60]. Investments and Acquisitions - The Group did not make or hold any material investments during the Reporting Period[43]. - There were no significant acquisitions or disposals during the Reporting Period[44]. - The Group plans to pursue strategic partnerships and acquisitions to expand its user base and revenue, targeting different market segments[23]. Financial Risks and Liabilities - The Group closely monitors foreign exchange exposure and will consider hedging significant foreign currency risks if necessary[47]. - The Group had no significant contingent liabilities as of June 30, 2024[45]. - The total loss allowance for trade receivables at the end of the reporting period reflects adjustments for specific debtor factors and general economic conditions[170].

Financial Performance - Revenue for the six months ended June 30, 2024, was approximately RMB 4,321.4 million, an increase of 11.9% compared to RMB 3,863.5 million in the same period of 2023[2]. - Gross profit for the same period was RMB 457.6 million, representing a decrease of 5.1% year-on-year[2]. - Operating profit was RMB 228.2 million, down 7.9% compared to the previous year[2]. - Net profit attributable to equity shareholders was RMB 112.7 million, an increase of 21.8% from RMB 92.5 million in the same period last year[2]. - Basic earnings per share increased by 20.6% to RMB 0.082 from RMB 0.068 in the previous year[2]. - The net profit for the six months ended June 30, 2024, was RMB 169,057 thousand, slightly up from RMB 168,132 thousand in 2023, reflecting a marginal increase of 0.5%[37]. - The total tax expense for the six months ended June 30, 2024, was RMB 9,528 thousand, a significant decrease from RMB 28,455 thousand in 2023, representing a reduction of approximately 66.47%[50]. Market Trends - The global semiconductor sales reached USD 149.9 billion in Q2 2024, marking an 18.3% year-on-year growth and a 6.5% quarter-on-quarter increase[4]. - The global semiconductor market is projected to reach USD 611 billion in 2024, reflecting a 16.0% year-on-year growth[4]. - The demand for AI-related chips is expected to rise significantly due to the widespread adoption of generative AI technologies[4]. - The ongoing development of emerging technologies such as 5G, AI, and IoT is anticipated to drive steady growth in global chip demand[4]. - The global AI market spending is projected to reach $632 billion by 2028, with a compound annual growth rate (CAGR) of approximately 29.0%[7]. - By 2030, the market demand for AI in China is expected to reach RMB 5.6 trillion, with total investments in the AI sector exceeding RMB 10 trillion from 2024 to 2030[7]. Strategic Initiatives - The company aims to strengthen its revenue sources by focusing on the new energy smart battery cloud business, particularly in the two-wheeled vehicle battery cloud services market[9]. - The introduction of the iPaaS technology integration platform aims to serve the AIoT "chip-end-cloud" industry chain, targeting smart vehicles, digital infrastructure, industrial interconnectivity, energy control, and consumer electronics[9]. - The company plans to continuously upgrade its service platform to comprehensively cover the entire AI industry chain, seizing business opportunities in the domestic smart transformation market[8]. - The company aims to develop an open and collaborative ecosystem in the electronic manufacturing industry to drive long-term business growth[11]. - The company intends to collect and monetize large amounts of data from customers and suppliers to provide data-driven services, including marketing and sales planning[11]. - The company plans to explore strategic partnerships and acquisition opportunities to expand its user base and revenue foundation[13]. Research and Development - Research and development expenses decreased to approximately RMB 43.6 million, down about RMB 19.8 million or 31.2% from RMB 63.4 million in the same period of 2023, mainly due to reduced spending on IC chip distribution and AIoT product development[21]. - The company has successfully trained over 2,000 chip application engineers through its Hard Egg Academy, contributing to the development of high-quality talent in the industry[6]. - The integration of Keton Technology and Hard Egg Technology aims to create a closed-loop industry ecosystem for smart hardware, enhancing service offerings across the AI industry chain[8]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and has complied with all applicable code provisions during the reporting period[60]. - The board believes that the current arrangement of having the same individual serve as both chairman and CEO enhances the effectiveness of the group's overall strategic planning[60]. - The company will continue to review and monitor its corporate governance practices to ensure compliance with the latest measures and standards[60]. - The company has established an Audit Committee consisting of three independent non-executive directors, with Mr. Hao Chunyi as the chairman[63]. Financial Position - As of June 30, 2024, current assets were approximately RMB 7,097.9 million, with a current ratio of 1.34, down about 11.3% from 1.51 as of December 31, 2023[25]. - The net debt-to-equity ratio increased to approximately 26.7% as of June 30, 2024, compared to 25.1% as of December 31, 2023, primarily due to an increase in bank loans[27]. - Total assets as of June 30, 2024, were RMB 7,097,932 thousand, a decrease from RMB 7,588,408 thousand as of December 31, 2023[39]. - The total trade and other payables as of June 30, 2024, were RMB 2,681,639,000, down 17.3% from RMB 3,244,183,000 as of December 31, 2023[56].

Financial Performance - The Group recorded revenue of approximately RMB 8,863.4 million for the reporting period, a decrease of approximately 7.0% compared to RMB 9,535.5 million in the same period of 2022[19]. - Net profit after tax decreased by approximately 29.3% compared to the corresponding period in 2022[19]. - Gross profit was approximately RMB 1,029.9 million, representing a decrease of approximately 7.5% year-on-year[19]. - Operating profit was approximately RMB 465.4 million, representing a decrease of approximately 13.0% year-on-year[19]. - The profit for the year decreased by 29.3% to RMB 319.9 million in 2023, down from RMB 452.4 million in 2022[28]. - The profit attributable to equity shareholders of Comtech fell by 33.0% to RMB 210.7 million in 2023, compared to RMB 314.4 million in the previous year[28]. - For the year ended December 31, 2023, the Group's revenue amounted to approximately RMB 8,863.4 million, representing a decrease of approximately RMB 672.1 million or approximately 7.0% compared to approximately RMB 9,535.5 million in 2022[102]. - Profit from operations decreased to approximately RMB 465.4 million, down approximately RMB 69.8 million from approximately RMB 535.2 million in 2022[103]. - The Group's profit for the year was approximately RMB 319.9 million, representing a decrease of approximately RMB 132.5 million compared to approximately RMB 452.4 million in 2022[103]. - Gross profit for the year ended December 31, 2023, was approximately RMB 1,029.9 million, a decrease of approximately 7.5% from approximately RMB 1,113.3 million in 2022[103]. Market Trends and Opportunities - The rapid development of AI technology has driven the digitalization of various industries, resulting in increased demand for AI chips[19]. - The overall market for chips is expected to show an upward trend, driven by the growth in chip demand[16]. - In 2023, the global semiconductor sales are projected to achieve a year-on-year growth of 20.2%, reaching $632.8 billion in 2024, as per IDC's revised outlook from "Trough" to "Sustainable Growth"[35]. - The global AI market size in 2023 was reported at $196.63 billion, with a projected compound annual growth rate (CAGR) of 37.3% from 2023 to 2030[26]. - China's AI market spending is expected to exceed $15 billion in 2023 and reach $38.1 billion by 2027, accounting for approximately 9% of the global total[26]. - The demand for AI chips in China is on the rise, driven by domestic policies and the promotion of AI applications[29]. - The iPaaS market size was $6.68 billion in 2023, with expectations to grow to $61.67 billion by 2030, reflecting a CAGR of 35.2%[24]. Strategic Initiatives - The Group aims to strengthen its strategic layout in AIoT technology and services, focusing on the entire AI industry chain[16]. - Comtech is strategically positioned in the "chip-device-cloud" industry chain, focusing on intelligent hardware AIoT to capture market opportunities[29]. - The Group plans to enhance Ingdan's revenue streams by developing a new energy smart battery cloud business and building an iPaaS technology integration platform to serve the AI industry chain[47]. - Ingdan aims to create a "chip-device-cloud" industrial closed loop to meet the needs of the AI industry, providing application design and distribution services for chips while focusing on smart hardware fields[47]. - The Group intends to invest more resources in customer service and order fulfillment to improve service reliability and reduce response times, enhancing overall platform efficiency[49]. - The Group plans to provide value-added services, including corporate and technology services, to enhance performance and customer engagement[47]. - The Group plans to pursue strategic partnerships and acquisitions to expand its business and enhance its market position, focusing on diverse market segments and improving its product and service offerings[50][51]. Operational Insights - As of December 31, 2023, the Group's current assets amounted to approximately RMB7,588.4 million, with cash and bank balances at RMB725.5 million, inventories at RMB4,506.1 million, and trade and other receivables at RMB1,932.2 million[57]. - The Group's current liabilities were approximately RMB5,024.4 million, with bank loans at RMB1,597.4 million and trade and other payables at RMB3,304.9 million, resulting in a current ratio of 1.51, an increase of approximately 8.6% from 1.39 in 2022[57]. - Capital expenditure for the year ended December 31, 2023, was approximately RMB168.0 million, a decrease of approximately RMB102.5 million or 37.9% compared to RMB270.5 million in 2022, primarily due to reduced purchases of intangible assets for R&D[57]. - The increase in trade receivables was attributed to higher sales in the second half of 2023 compared to the same period in 2022, while inventory levels were raised in anticipation of expected sales demand in 2024[57]. Corporate Governance and Compliance - The Group has complied with relevant laws and regulations, with no material breaches reported during the year ended December 31, 2023[140]. - The Group's independent non-executive directors bring extensive experience in various industries, enhancing governance and oversight[148]. - The Group has implemented an annual self-appraisal program and adopted the 2023 RSU Scheme to reward employee fidelity[141]. - The Group maintains good relationships with suppliers and customers, with no significant disputes reported during the year ended December 31, 2023[142]. Employee and Remuneration - As of December 31, 2023, the Group had 580 full-time employees, an increase from 568 in 2022[84]. - The total remuneration cost incurred by the Group for the year ended December 31, 2023, was approximately RMB206.1 million, compared to RMB195.7 million in 2022[84]. - Employee remuneration is periodically reviewed based on industry practices and individual performance assessments[84]. Risks and Challenges - Key risks include potential disruptions to supply chains and business operations due to pandemic outbreaks, which may impact financial performance[143]. - The company faces intense competition in the electronic components procurement market, which is expected to continue evolving as it develops its e-commerce platform[191]. - The company provides credit facilities to customers through its IngFin Financing Services business, exposing it to credit risks related to collateral value fluctuations and potential defaults[194].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported revenue of approximately RMB 8,863.4 million, a decrease of about 7.0% compared to RMB 9,535.5 million in the same period of 2022[23]. - The company's gross profit for the same period was approximately RMB 1,029.9 million, down approximately 7.5% from RMB 1,113.3 million year-on-year[23]. - Operating profit decreased to approximately RMB 465.4 million, reflecting a decline of about 13.0% compared to RMB 535.2 million in the previous year[23]. - Net profit attributable to shareholders was approximately RMB 210.7 million, a decrease of about 33.0% from RMB 314.4 million in the same period last year[23]. - Basic earnings per share were RMB 0.154, down approximately 31.3% from RMB 0.224 in the previous year[23]. - The company's capital expenditure for the year was approximately RMB 168.0 million, a reduction of about RMB 102.5 million or approximately 37.9% from RMB 270.5 million in 2022[47]. - The company recorded other income of approximately RMB 52.9 million, a decrease of about RMB 13.3 million or approximately 20.1% from RMB 66.2 million in 2022[41]. - The group’s income tax decreased by approximately 36.0% from about RMB 63.5 million in 2022 to approximately RMB 40.6 million in 2023, with an effective tax rate of 11.3%[71]. - The company reported a total profit before tax of RMB 515,895,000 for the year 2023, compared to RMB 66,163,000 in 2022, showing a significant increase[135]. - The total comprehensive income for the year was RMB 108.8 million, an increase from RMB 69.8 million in 2022[117]. - The company incurred total salary costs of approximately RMB 206.1 million for the year, up from RMB 195.7 million in 2022[108]. - The company reported a net profit of RMB 210,700,000 for 2023, down 32.9% from RMB 314,414,000 in 2022[165]. Market Outlook - The demand for AI chips is expected to rise, driven by the rapid development of AI technology, despite a temporary decline in overall sales due to a return to normal market conditions[15]. - The global semiconductor market is projected to rebound, with IDC forecasting a 20.2% year-on-year growth in 2024, reaching USD 632.8 billion[16]. - The company is optimistic about the future growth of the semiconductor industry in China, supported by favorable national policies and economic recovery[16]. - The global AI market size is projected to reach $196.63 billion in 2023, with a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030[29]. - China's AI market spending is expected to exceed $15 billion in 2023 and reach approximately $38.1 billion by 2027, accounting for about 9% of the global total[29]. - The semiconductor market is projected to grow by 20.2% in 2024, reaching USD 633 billion, indicating a positive outlook for the industry[54]. Strategic Initiatives - The company is focusing on the electric two-wheeler battery cloud service market, aiming to capture a significant share of the RMB 100 billion market[18]. - The company plans to enhance its technology services platform to support the semiconductor industry and capitalize on the growing demand from various sectors[16]. - The company plans to enhance revenue sources by focusing on new energy smart battery cloud services, particularly in the two-wheeled vehicle battery cloud service sector[32]. - The company aims to develop an iPaaS technology integration platform to serve the AloT "chip-end-cloud" industry chain, targeting five key areas: smart vehicles, digital infrastructure, industrial interconnection, energy control, and consumer electronics[32]. - The company intends to create an open, collaborative, and prosperous electronic manufacturing ecosystem to benefit customers and suppliers, which is expected to drive long-term business growth[33]. - The company plans to leverage customer and supplier data to provide data-driven services, including marketing planning, sales, and customized product design[34]. - The company will continue to enhance customer loyalty and attract existing customers for increased procurement through advanced market analysis tools[34]. - The company is committed to upgrading its service platform to comprehensively cover the entire AI industry chain, seizing business opportunities in China's smart transformation[31]. - The company aims to promote strategic partnerships and acquisition opportunities to further its growth[35]. - The group aims to expand its business through strategic partnerships and acquisitions to optimize operations and broaden its user and revenue base[64]. Operational Metrics - The net asset liability ratio increased to approximately 25.1% as of December 31, 2023, compared to 12.3% at the end of 2022, primarily due to an increase in bank loans[48]. - As of December 31, 2023, the group's current assets were approximately RMB 7,588.4 million, with a current ratio of 1.51, up about 8.6% from 1.39 in 2022[73]. - The group employed 580 full-time employees as of December 31, 2023, an increase from 568 in 2022[80]. - The company's trade receivables increased to RMB 1,932,233,000 in 2023 from RMB 1,469,767,000 in 2022, indicating a growth of 31.4%[166]. - The company’s cash and cash equivalents amounted to RMB 287,705,000 as of December 31, 2023, compared to RMB 190,539,000 in 2022, indicating an increase of approximately 51%[145]. - The company’s total assets less current liabilities were RMB 5,171,847,000 as of December 31, 2023, compared to RMB 5,084,205,000 in 2022, showing a slight increase[145]. - The company’s total liabilities decreased to RMB 5,024,443,000 in 2023 from RMB 4,621,034,000 in 2022, reflecting an increase of about 8.7%[145]. - The company’s total liabilities increased to RMB 657,127,000 in 2023 from RMB 630,853,000 in 2022, reflecting a growth of 4.2%[162]. - The total amount allocated to unsatisfied performance obligations was approximately RMB 101,700,000 as of December 31, 2023, down from RMB 262,511,000 in 2022, reflecting a decrease of about 61.2%[131]. - The average credit period granted by the group remained consistent at 30 days for both 2023 and 2022, indicating stable credit management practices[190]. Governance and Compliance - The board of directors has adopted a governance framework to ensure compliance with the latest corporate governance standards[196]. - The company has established an audit committee consisting of three independent non-executive directors to enhance governance practices[177].

作者  |  左星月   编辑  |  胡芳洁  美编  |  吴宜忠    审核  |  颂文  深交所上市委拟定在2月7日召开2024年第8次上市审核委员会审议会议，审议深圳市科通技术股份有限公司（以下简称“科通技术”）的首发事项。 然而，2月6日，深交所上市委公告，鉴于深圳市科通技术股份有限公司在上市委审议会议公告发布后，因相关审核事项需要核查，按照有关程序，上市委审议会议取消审议科通技术发行上市申请。 科通技术近两年的等待，功亏一篑。 科通技术是一家知名的芯片应用设计和分销服务商，是港股上市公司硬蛋创新控股子公司。根据招股书，科通技术预计募集资金20.49亿元，主要用于扩充分销产品线项目、研发中心建设项目、补充流动资金。 然而，科通技术目前仍存在不少问题，公司不仅经营现金流净流出，资产负债率也高于同行公司。此外，母公司硬蛋创新曾被机构做空，也给公司的IPO之路带来不确定性。 科通技术在被取消审议后，接下来会走向何方，还需时间观察。 1 被做空两次，母公司股价一蹶不振  科通技术成立于2005年，是一家芯片应用设计和分销服务商。公司与全球多家领先的芯片原厂紧密合作，已获得Xilinx（赛灵思）、Inte ...

Financial Performance - The profit attributable to the owners of the company for the reporting period was approximately RMB 925 million, a decrease of about RMB 392 million or approximately 29.8% compared to RMB 1,317 million in the same period of 2022[37]. - The decrease in profit was primarily due to the absence of gains from the disposal of subsidiaries, which recorded approximately RMB 489 million in the prior period[37]. - For the reporting period, the Group recorded revenue of approximately RMB 3,863.5 million, a decrease of about 17.8% compared to RMB 4,702.4 million in the same period of 2022[82]. - The Group's net profit for the period was approximately RMB 168.1 million, representing a decrease of about 20.7% from RMB 211.9 million in the corresponding period of 2022[102]. - Profit attributable to owners of the Company for the reporting period was approximately RMB 92.5 million, a decrease of approximately RMB 39.2 million or 29.8% compared to approximately RMB 131.7 million for the same period in 2022[66]. - The Group's other income decreased by approximately RMB 46.8 million or about 63.5%, totaling approximately RMB 26.9 million compared to RMB 73.7 million in the corresponding period of 2022[89]. - Selling and distribution expenses amounted to approximately RMB 90.2 million, a decrease of about 6.3% from RMB 96.3 million in the same period of 2022[90]. - Gross profit increased to approximately RMB 482.4 million, reflecting a year-on-year increase of about 13.7%[102]. - Operating profit for the period was approximately RMB 247.8 million, an increase of about 10.6% compared to RMB 224.0 million in the same period of 2022[102]. - Basic earnings per share (EPS) decreased by about 28.4% to RMB 0.068 from RMB 0.095 in the same period of 2022[102]. Financial Position - As of June 30, 2023, the group's current assets were approximately RMB 8,495.7 million, including cash and bank balances of approximately RMB 1,048.7 million[38]. - The group's current liabilities were approximately RMB 6,008.5 million, with bank loans accounting for about RMB 1,818.8 million[38]. - The current ratio (current assets to current liabilities) as of June 30, 2023, was 1.41, an increase of 1.4% from 1.39 on December 31, 2022[38]. - As of June 30, 2023, the net gearing ratio of the Group was approximately 23.2%, up from 12.3% as of December 31, 2022, primarily due to an increase in bank loans during the reporting period[42][47]. - Pledged bank deposits and account receivables were approximately RMB 495.1 million and RMB 415.7 million as of June 30, 2023, respectively[30]. - The Group had no significant contingent liabilities as of June 30, 2023[32]. - The Group had no other debt financing obligations as of June 30, 2023, and did not breach any financial covenants[45]. Expenses and Investments - Financial costs increased from RMB 294 million in the six months ended June 30, 2022, to RMB 518 million in the same period of 2023, attributed to increased bank borrowings[37]. - Research and development expenses for the reporting period were approximately RMB 63.4 million, a decrease of approximately RMB 29.2 million or 31.5% from approximately RMB 92.6 million in the corresponding period of 2022[59][62]. - Administrative and other operating expenses increased to approximately RMB 107.9 million, up approximately RMB 22.7 million or 26.6% from approximately RMB 85.2 million in the same period of 2022[60][63]. - For the reporting period, the Group's capital expenditure amounted to approximately RMB 0.6 million, an increase of approximately RMB 0.3 million compared to approximately RMB 0.3 million for the same period in 2022[41][46]. - The Group did not make or hold any significant investments during the reporting period[43][48]. Strategic Developments - The Group has obtained approval for the spin-off and separate listing of its chip business, Shenzhen Comtech, on the A-shares market in Mainland China[85]. - Comtech achieved technological breakthroughs in AIGC, logistics robots, and electronic rearview mirrors for smart vehicles during the reporting period[105]. - The Group plans to develop an ecosystem for the electronics manufacturing industry, including services such as supply chain financing, insurance, and cloud computing[120]. - The Group aims to broaden its value-added services by monetizing data collected from customers and suppliers, offering data-driven services[120]. - The Group plans to expand its business through strategic partnerships and acquisitions to optimize operations and enhance its user and revenue base[123]. - The Group is focusing on two-wheeler battery cloud services to capture the new energy smart battery cloud market, targeting a RMB 100 billion opportunity[106]. - The Group intends to pursue strategic partnerships and acquisition opportunities to further strengthen its market position[153]. - Ingdan's research and development projects are becoming more sophisticated, with proprietary products expected to contribute significantly to the Group's performance[146]. Market Insights - The number of two-wheel electric vehicles in China was estimated to be approximately 350 million in 2022, with the battery replacement service market expected to exceed RMB 130 billion by 2025[106]. - Ingdan is actively expanding into the iPaaS market, with the global market size projected to grow from US$5.29 billion in 2022 to US$30.58 billion in 2028, representing a CAGR of 34.0%[107][108]. - The AI market in China is expected to reach USD 14.75 billion in 2023, accounting for about one-tenth of the global total[140]. - The global semiconductor sales are projected to decline by 10.3% in 2023 but are expected to grow by 11.8% in 2024[130]. - The Chinese government's "Plan for the Overall Layout of Building a Digital China" aims for significant progress by 2025, which is expected to drive growth in the AI industry[115]. - The Group believes that the AI industry will see substantial growth, opening new opportunities for chip and chip application demand[115].