Financial Performance - The company achieved a revenue of RMB 2.592 billion for the year ending December 31, 2024, representing a year-on-year growth of 39.51%[9] - Net profit for the company was RMB 105 million, a year-on-year increase of 45.56%, while adjusted net profit reached RMB 145 million, up 77.65% year-on-year[9] - Revenue from the automotive intelligent vision products segment was RMB 1.023 billion, with a year-on-year growth of 33%[9] - The new display products segment generated revenue of RMB 807 million, reflecting a significant year-on-year increase of 85%[9] - High-end lighting products contributed RMB 761 million in revenue, marking a year-on-year growth of 17%[9] - The company's revenue for 2024 was RMB 2.592 billion, a year-on-year increase of approximately 39.51%[22] - The net profit for 2024 was RMB 105 million, reflecting a year-on-year growth of 45.56%[22] - The automotive smart vision business achieved revenue of RMB 1.023 billion, a year-on-year increase of 33%[23] - Revenue from new display products was RMB 807.1 million, a significant increase of 85.0% compared to the previous year, driven by government subsidies and the application of Mini LED technology[31] - Revenue from automotive intelligent vision products was RMB 1,023.5 million, reflecting a year-on-year growth of 32.8% due to vertical integration advantages in the LED packaging and module supply chain[30] - High-end lighting product sales amounted to RMB 761.5 million, up 17.0% year-on-year, attributed to optimized sales strategies and enhanced product performance[31] Market Overview - The global LED smart vision industry market size reached $192 billion in 2023, projected to grow to $287.2 billion by 2028, with a CAGR of 8.4%[15] - China's LED smart vision market size in 2023 was RMB 440.2 billion, expected to reach RMB 679.2 billion by 2028, with a CAGR of 9.1%[15] - The penetration rate of LED technology in China's automotive smart vision market has exceeded 90%, driven by superior light intensity, longer lifespan, and lower energy consumption[16] - In 2024, China's automotive production and sales reached 31.28 million and 31.44 million units, respectively, with year-on-year growth of 3.7% and 4.5%[16] - The high-end lighting and LCD TV backlight market in China reached RMB 17.1 billion in 2023, projected to grow to RMB 26.2 billion by 2028, with a CAGR of 8.9%[18] Strategic Initiatives - The company established strategic partnerships with over 20 automotive manufacturers and tier-one suppliers, enhancing its position in the high-end intelligent automotive lighting market[9] - The company plans to expand production capacity and advance the construction of its headquarters in the Greater Bay Area, along with launching multiple new projects[9] - The company aims to deepen collaboration across its three major business segments, focusing on expanding the automotive intelligent vision market and accelerating innovation in new display technologies[12] - The company is developing a full range of automotive-grade LED devices and modules, enhancing its vertical integration in the automotive smart vision product chain[23] Corporate Governance - The company is committed to maintaining high levels of corporate governance to protect shareholder interests and enhance corporate value[88] - The company has adopted the corporate governance code as its own governance code and has fully complied with all applicable provisions since its listing[88] - The board consists of nine directors, including one executive director, four non-executive directors, and four independent non-executive directors[91] - The independent non-executive directors confirm their independence and have no financial or other interests in the company or its subsidiaries[93] - The company has established a clear management structure with responsibilities defined for the board and senior management to ensure effective decision-making[94] - The board has established four committees: Audit Committee, Nomination Committee, Remuneration and Assessment Committee, and Strategic Committee to oversee specific matters[96] Risk Management - The company has implemented comprehensive risk management and internal control policies, which are reviewed at least annually for effectiveness[139] - The board has established a permanent procedure to identify, assess, and manage potential risks, including environmental, social, and governance (ESG) risks[140] - The company has adopted a whistleblowing policy to provide guidance and reporting channels for employees and third parties to report suspected misconduct[143] - The risk management and internal control system has been reviewed annually, and the board believes it is effective and adequate[142] Shareholder Engagement - The company emphasizes effective communication with shareholders through various formal channels, including interim and annual reports[151] - The company plans to adopt a dividend payout ratio of no less than 30% of annual net profit over the next three years, subject to board and shareholder approval[148] - The proposed final dividend for the year ending December 31, 2024, is RMB 0.68 per share, totaling RMB 36.53 million, pending approval at the annual general meeting[172] Related Transactions - The total amount of disclosed continuing connected transactions for the year ending December 31, 2024, is expected to exceed the original annual cap of RMB 3,748,000 by RMB 4,400,000[197] - The independent non-executive directors confirmed that the continuing connected transactions were conducted in the normal course of business and on normal commercial terms[194] - The auditor has issued a qualified opinion regarding the continuing connected transactions disclosed in the annual report, indicating that they were established under fair and reasonable terms[195] - The company has implemented enhanced internal control measures to monitor related transactions and ensure compliance with listing rules[192]

晶科电子股份涨超4% 去年经调整净利同比增长 77.65% 消息面上，晶科电子股份公布2024年业绩，实现营业收入人民币25.92亿元，同比增长39.51%；净 利润为1.05亿元，同比增长45.56%；经调整净利为1.45亿元，同比增长77.65%；每股盈利0.21元。公告 称，收入增长主要由于集团积极开拓市场及客户，其中新型显示产品和汽车智能视觉产品增长显著。 营收构成方面，汽车智能视觉产品所得收入为10.23亿元，同比增幅达33%；新型显示产品所得收 入为8.07亿元，同比增幅达85%，高端照明产品所得收入为7.61亿元，同比增幅17%。 晶科电子股份(02551)涨超4%，截至发稿，涨4.09%，报4.33港元，成交额252.33万港元。 ...

Financial Performance - The company achieved a revenue of RMB 2.592 billion for the year ending December 31, 2024, representing a year-on-year growth of 39.51%[9]. - The net profit for the company was RMB 105 million, a year-on-year increase of 45.56%, while the adjusted net profit reached RMB 145 million, up 77.65% year-on-year[9]. - Revenue from automotive intelligent vision products was RMB 1.023 billion, with a year-on-year growth of 33%[9]. - Revenue from new display products reached RMB 807 million, showing a significant year-on-year increase of 85%[9]. - Revenue from high-end lighting products was RMB 761 million, reflecting a year-on-year growth of 17%[9]. - The total revenue for the company in 2024 reached RMB 2.59 billion, marking a year-on-year increase of 39.5%[30]. - The company's total assets as of December 31, 2024, amounted to RMB 3.10 billion, a year-on-year growth of 29.2%[36]. - Sales revenue in mainland China was RMB 2.14 billion, up 35.6% year-on-year, primarily due to significant growth in new display and automotive smart vision products[35]. - Overseas sales revenue reached RMB 454.0 million, showing a year-on-year increase of 61.4%, driven by rising demand for plant lighting orders from international markets[35]. - The gross margin for the fiscal year was reported at 35%, an improvement from 30% in the previous year, indicating better cost management and pricing strategies[60]. Market Trends and Projections - The global LED smart vision industry market size reached USD 192 billion in 2023, with a projected growth to USD 287.2 billion by 2028, at a CAGR of 8.4%[15]. - China's LED smart vision market size was RMB 440.2 billion in 2023, expected to grow to RMB 679.2 billion by 2028, with a CAGR of 9.1%[15]. - The penetration rate of LED technology in China's automotive smart vision market has exceeded 90%[16]. - The high-end lighting and LCD TV backlight market in China reached RMB 17.1 billion in 2023, projected to grow to RMB 26.2 billion by 2028, with a CAGR of 8.9%[19]. - The automotive production and sales volume in China reached 31.282 million and 31.436 million units in 2024, with year-on-year growth of 3.7% and 4.5% respectively[16]. Strategic Initiatives - The company established strategic partnerships with over 20 automotive manufacturers and tier-one suppliers, enhancing its position in the high-end intelligent automotive lighting market[9]. - The company is expanding its production capacity and advancing the construction of its headquarters in the Greater Bay Area, along with multiple new projects[9]. - The company is focusing on expanding its automotive smart vision market and enhancing new display technology innovation and capacity[12]. - The company aims to create shareholder returns and enhance employee value while contributing to a better future for society[12]. - The company has established a vertical integration layout in the automotive smart vision product sector, enhancing its competitive advantage[28]. Research and Development - The company is committed to continuous technological innovation and quality upgrades in its high-end lighting business, enhancing product performance and reducing costs[10]. - The company has received 430 authorized patents, including 109 invention patents, reflecting its commitment to innovation and technology development[28]. - New product development includes advancements in semiconductor technology, with an investment of 500 million RMB allocated for R&D in the upcoming year[60]. - The company is investing heavily in R&D, allocating 150 million to develop new technologies and enhance existing products[92]. Corporate Governance - The board of directors has approved a dividend payout of 2 RMB per share, reflecting the company's strong financial performance and commitment to returning value to shareholders[60]. - The board consists of nine members, including one executive director and four independent non-executive directors, ensuring diverse oversight[105]. - The board has fulfilled its corporate governance responsibilities from the listing date to the end of the reporting period[140]. - The company has established a comprehensive risk management and internal control policy, which is reviewed at least annually to ensure effectiveness[159]. - The company has implemented measures to ensure the independence of the board's decision-making process, with clear delineation of responsibilities between the chairman and the president[123]. Shareholder Communication - The company emphasizes effective communication with shareholders through various formal channels, including interim and annual reports[172]. - The board of directors has conducted an annual review of the company's shareholder communication policy, concluding it has been effectively implemented since the listing date[178]. - The company emphasizes effective communication with shareholders and the investment community to provide comprehensive and understandable information[178]. Environmental and Social Responsibility - The company has not faced any significant environmental risks and has not incurred any fines or penalties for environmental law violations during the reporting period[189]. - The company has initiated a new strategy focusing on sustainability, aiming to reduce carbon emissions by 40% over the next five years[60].