Financial Performance - The company's revenue increased by 31.6% from RMB 352.5 million in 2022 to RMB 463.9 million in 2023, driven by the launch of new industrial products and strong demand in the new energy sector[3]. - Gross profit increased by 29.0% from RMB 199.3 million in 2022 to RMB 257.1 million in 2023, with a slight decrease in gross margin from 56.5% to 55.4%[4]. - Profit before tax rose by 12.7% from RMB 96.8 million in 2022 to RMB 109.2 million in 2023, mainly due to the substantial increase in sales revenue[6]. - The annual profit increased by 14.6% from RMB 95.3 million in 2022 to RMB 109.2 million in 2023, attributed to the significant rise in sales[6]. - Basic earnings per share for 2023 were RMB 2.43, compared to RMB 2.12 in 2022, representing a growth of 14.6%[44]. - Adjusted net profit (non-HKFRS measure) for 2023 was RMB 1,206 million, compared to RMB 953 million in 2022, after adding back IPO expenses and share-based payments[92]. Expenses and Costs - Sales cost rose by 35.0% from RMB 153.2 million in 2022 to RMB 206.8 million in 2023, primarily due to the significant increase in sales revenue[4]. - Research and development expenses grew by 40.4% from RMB 84.9 million in 2022 to RMB 119.1 million in 2023, reflecting the company's expanding business scale and ongoing profitability improvements[6]. - Distribution costs increased by 80.6% from RMB 36 million in 2022 to RMB 65 million in 2023, mainly due to rising employee compensation and new expenses from the Shanghai branch[82]. - Administrative expenses rose by 17.6% from RMB 222 million in 2022 to RMB 261 million in 2023, driven by increased employee compensation and higher intermediary fees related to the IPO[83]. - Financing costs increased significantly to RMB 4,269,000 in 2023 from RMB 1,651,000 in 2022, reflecting higher interest expenses on loans and borrowings[33]. Assets and Liabilities - Cash and cash equivalents increased significantly from RMB 162.5 million in 2022 to RMB 550.8 million in 2023, indicating improved liquidity[16]. - Total assets less current liabilities rose from RMB 400.3 million in 2022 to RMB 844.2 million in 2023, reflecting strong asset growth[12]. - The company's equity increased from RMB 395.8 million in 2022 to RMB 838.2 million in 2023, demonstrating substantial growth in shareholder value[14]. - Total outstanding bank loans increased from RMB 955 million as of December 31, 2022, to RMB 1,716 million as of December 31, 2023, primarily to support operational funding needs[102]. - Trade and other payables increased to RMB 248,501,000 in 2023 from RMB 96,049,000 in 2022, marking a 158.1% rise[53]. Revenue Sources - Customer contract revenue from the sale of simulated IC pattern wafers increased to RMB 463,881,000 in 2023 from RMB 352,510,000 in 2022, representing a growth of 31.6%[26]. - Revenue from power management products rose by 38.5% to RMB 408.3 million, while revenue from signal chain products decreased by 3.6% to RMB 55.6 million[74]. - Major customers contributing over 10% of total revenue included Customer A with RMB 210,273,000 (up from RMB 156,094,000) and Customer B with RMB 195,222,000 (up from RMB 126,585,000) in 2023[30]. Market and Industry Trends - The integrated circuit (IC) industry in China produced 351.4 billion units in 2023, a year-on-year increase of 6.9%[58]. - The global analog chip market experienced a year-on-year decline of 8.9% in 2023, marking the lowest growth rate since 2011[59]. - The company is expanding its market share in the new energy vehicle sector, leveraging its core competencies in product and technology[60]. Corporate Governance and Future Plans - The company has maintained compliance with all applicable laws and regulations, with no significant violations reported as of December 31, 2023[118]. - The company plans to enhance its competitive advantages in technology, talent, sales, and quality, while expanding production capacity and high-end application areas in 2024[123]. - The company will regularly review and monitor its corporate governance practices to ensure compliance with high standards[126].