Core Viewpoint - The company reported a decline in revenue and profit for 2024, attributed to industry cyclical lows, but anticipates gradual recovery in 2025 due to new demand in various sectors [1][2]. Financial Performance Summary - For 2024, the company achieved revenue of 4.21 billion, a year-on-year decrease of 7.0%, and a net profit attributable to shareholders of 370 million, down 31.8% year-on-year. The non-recurring net profit was 310 million, reflecting a 36.5% decline [1]. - In Q4 2024, revenue was 1.01 billion, a decrease of 9.0% year-on-year and 7.6% quarter-on-quarter. The net profit attributable to shareholders was 60 million, down 63.4% year-on-year and 42.2% quarter-on-quarter. The non-recurring net profit was -6 million, indicating a 104.2% decline year-on-year and 105.1% quarter-on-quarter [1]. Industry Outlook - The automotive, industrial, and medical sectors are currently experiencing low market conditions, leading to revenue declines for the company. Additionally, increased stock-based compensation and depreciation from acquisitions have negatively impacted profit performance [1]. - The industry has been in a down cycle for over two years, with ongoing inventory destocking. However, new demands in smart driving, data centers, and industrial automation are expected to contribute to a gradual market recovery in 2025 [1]. Product Development and Growth Potential - The company is actively developing new products such as 3D AI DRAM to meet the rising demand for AI computing and storage bandwidth. It has completed mass production of 8Gb DDR4 and 16Gb LPDDR4 products and is advancing the development of new DRAM products across various process nodes [2]. - Emerging applications for DRAM, SRAM, and Flash memory in robotics are also being explored, providing additional growth opportunities [2]. Investment Forecast - Due to the slow recovery of market demand, the company has adjusted its profit forecasts, expecting net profits attributable to shareholders of 450 million, 560 million, and 700 million for 2025-2027, with corresponding PE ratios of 72, 58, and 46 times [2].

Group 1: Market Outlook - The industry market is expected to gradually recover in 2025, with Q3 and Q4 likely showing better performance due to seasonal factors [2][3] - Storage chips are anticipated to reflect global market conditions, with improvements expected in Q1 2025 compared to the previous year [2][3] - The automotive sector is projected to show an upward trend, indicating 2025 could be a turning point for the industry [3] Group 2: Product Development - The 3D DRAM product is still in the R&D phase, with sample availability aimed for this year, while revenue contributions are uncertain [3][4] - High-performance SoC products are expected to exceed 2T by the end of the year, targeting applications in IPC and NVR markets [4] - The demand for 3D DRAM is increasing due to risks associated with HBM export restrictions, with potential applications in AI and high-performance computing [4][5] Group 3: Challenges and Strategic Planning - Tariffs are impacting both DRAM and analog product lines, potentially stabilizing prices for domestic chip manufacturers [5][6] - Key technical challenges for 3D stacking DRAM include stacking processes and thermal management [6] - The company plans to continue focusing on existing product lines while enhancing R&D in high-performance chips and 3D DRAM over the next three to five years [7]

Summary of Beijing Junzheng's Conference Call Company Overview - **Company**: Beijing Junzheng - **Year**: 2024 - **Total Revenue**: 4.2 billion RMB, down 7.58% year-on-year - **Net Profit**: 366 million RMB, down 31.8% year-on-year, significantly impacted by a sluggish industry market [4][6] Key Product Lines 1. Computing Chips - **Revenue**: 1.09 billion RMB, down 1.65% year-on-year, primarily due to a decline in security chip sales [4][6] - **Gross Margin**: 33.02%, an increase of approximately 5 percentage points, mainly due to improved margins in the security sector [8] - **Market Performance**: Over 80% of revenue comes from security monitoring, with growth in niche markets like printers and QR code devices at about 10% [6][9] - **Future Plans**: Introduction of T42 chip with over 2T computing power and expansion into 3D DRAM to meet AI model demands, expected to contribute to revenue starting in 2026 [4][7] 2. Storage Chips - **Revenue**: 2.59 billion RMB, down 11% year-on-year, accounting for over 60% of total revenue [10][6] - **Market Dependency**: 90% of sales come from industry markets, with automotive, industrial, and medical sectors comprising over 70% [10][11] - **Gross Margin**: 34.55%, a slight decline of less than 2 percentage points year-on-year, maintaining a stable level around 30% [13] - **Future Outlook**: Anticipated gradual recovery in 2025, with new DRAM technologies expected to drive growth [4][10] 3. Analog Interconnect Chips - **Revenue**: 470 million RMB, up 15% year-on-year, primarily from LED drivers, with over 50% from automotive applications [15] - **Gross Margin**: 49.6%, but may face competitive pressure in the future [15] Industry Insights - **Market Demand**: The semiconductor market in 2024 shows significant demand disparity; AI-related chip sales are booming, while sectors like automotive, industrial, and medical remain sluggish [5] - **2025 Outlook**: Expected gradual recovery in the industry market, with storage and analog interconnect chips likely to improve quarter by quarter [17] Strategic Developments - **R&D Investments**: Increased focus on advanced process storage chips (20nm, 18nm, 16nm) and 3D DRAM to enhance product competitiveness [4][14] - **Global R&D Team**: The company has a global R&D presence, which is beneficial in the current environment [26] - **Future Strategy**: Plans to deepen engagement in computing and storage sectors, particularly in 3D DRAM, to address the rapid penetration of AIoT [27][29] Market Challenges - **Tariff Impacts**: Tariffs may affect DRAM and analog product lines, necessitating close monitoring and strategic adjustments [22][23] - **Price Stability**: Despite potential tariff benefits for domestic manufacturers, significant price changes are not anticipated due to stable industry relationships [23] Conclusion - **Revenue Expectations**: 2023 and 2024 are challenging years, but a gradual recovery is expected starting in 2025, driven by industry improvements and new product introductions [31]

Core Insights - Beijing Junzheng's 2024 annual report indicates a decline in both revenue and net profit, highlighting significant challenges faced by the company over the past year [1] Financial Key Indicators Analysis - Revenue decreased to 4.21 billion yuan, down 7.03% from 4.53 billion yuan in 2023, primarily due to weak market demand in key sectors such as automotive and industrial for storage chips [2] - Storage chip revenue fell by 11.06% to approximately 2.59 billion yuan, while computing chip revenue slightly declined by 1.65% to about 1.09 billion yuan, despite some growth in specific areas like biometrics [2] - Analog and interconnected chip revenue increased by 15.31% to around 471 million yuan, benefiting from the growth in the domestic new energy vehicle market [2] Net Profit Decline Analysis - Net profit attributable to shareholders was approximately 366 million yuan, a decrease of 31.84% from about 537 million yuan in 2023, driven by reduced revenue and increased costs [3] - The implementation of a restricted stock incentive plan added approximately 45 million yuan in expenses, and asset depreciation and amortization from acquisitions impacted the financial results by about 36.9 million yuan [3] Core Business Profitability Challenges - The net profit excluding non-recurring items was approximately 312 million yuan, down 36.52% from about 491 million yuan in 2023, indicating significant challenges to the core business's profitability [4] Earnings Per Share Decline - Basic earnings per share were 0.7604 yuan, down 31.84% from 1.1156 yuan in 2023, while the diluted earnings per share excluding non-recurring items were 0.6478 yuan, a decrease of 36.52% [5] Expense Analysis - Management expenses increased by 20.31% to approximately 215 million yuan, raising concerns about resource allocation efficiency [6] - Sales expenses slightly decreased by 5.90% to about 295 million yuan, suggesting a need for improved sales strategies and market promotion efforts [7] - Financial expenses improved, showing a negative value of approximately -75 million yuan, indicating that interest income exceeded interest expenses [8] Research and Development Investment - R&D expenses were approximately 681 million yuan, a slight decrease of 3.81% from about 708 million yuan in 2023, reflecting the company's ongoing commitment to technological innovation [10] Cash Flow Analysis - Net cash flow from operating activities was approximately 363 million yuan, down 34.88% from about 558 million yuan in 2023, indicating weakened cash generation capabilities [11] - Net cash flow from investing activities was -2.71 billion yuan, a decrease of 9.76% from -3 billion yuan in 2023, primarily due to reduced cash inflows from maturing bank wealth management products [12] - Net cash flow from financing activities was -106 million yuan, a significant decline of 225.93% from -32 million yuan in 2023, largely due to increased cash distributions to shareholders [13]

证券代码：300223 证券简称：北京君正 公告编号：2025-007 北京君正集成电路股份有限公司 2024 年年度报告披露提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 二○二五年四月十九日 北京君正集成电路股份有限公司《2024 年年度报告》及《2024 年年度报告 摘要》已于 2025 年 4 月 19 日在中国证监会指定的创业板信息披露网站巨潮资讯 网（www.cninfo.com.cn）上披露，敬请投资者注意查阅。 特此公告。 北京君正集成电路股份有限公司 董事会 ...

北京君正集成电路股份有限公司 《公司章程》具体修订内容如下： | 修改前 | 修改后 | | --- | --- | | | 第一条 为维护公司、股东、职工和债权人的合法权益， | | 第一条 为维护公司、股东和债权人的合法权益，规范 | 规范公司的组织和行为，根据《中华人民共和国公司 | | 公司的组织和行为，根据《中华人民共和国公司法》(以 | 法》(以下简称"《公司法》")、《中华人民共和国证券 | | 下简称"《公司法》")、《中华人民共和国证券法》(以 | | | 下简称"《证券法》")和其他有关规定，制订本章程。 | 法》(以下简称"《证券法》")和其他有关规定，制订 | | | 本章程。 | | 第八条 董事长为公司的法定代表人。 | 第八条 代表公司执行公司事务的董事为公司的法定 | | | 代表人。公司董事长为代表公司执行事务的董事。 | | | 担任法定代表人的董事辞任的，视为同时辞去法定代 | | | 表人。 | | | 法定代表人辞任的，公司将在法定代表人辞任之日起 | | | 三十日内确定新的法定代表人。 | | | 第九条 法定代表人以公司名义从事的民事活动，其法 | | | 律后 ...

出席本次说明会的人员有：公司董事长兼总经理刘强先生、独立董事叶金福 先生、副总经理兼董事会秘书张敏女士、副总经理兼财务总监叶飞先生。 为充分尊重投资者、提升交流的针对性，现就本次业绩说明会提前向投资者 公开征集问题，广泛听取投资者的意见和建议。投资者可提前登录深圳证券交易 所"互动易"平台（http://irm.cninfo.com.cn），进入"云访谈"栏目，参与本次 业绩说明会的问题征集。公司将在本次业绩说明会上，对投资者普遍关注的问题 进行回答。欢迎广大投资者积极参与。 特此公告。 北京君正集成电路股份有限公司 证券代码：300223 证券简称：北京君正 公告编号：2025-020 北京君正集成电路股份有限公司 关于举行 2024 年度业绩说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 北京君正集成电路股份有限公司（以下简称"公司"）《2024 年年度报告》 于 2025 年 4 月 19 日在巨潮资讯网披露，为了让广大投资者进一步了解公司 2024 年度经营情况，公司定于 2025 年 5 月 13 日（星期二）下午 15:00 至 17 ...

2024 年度募集资金存放与使用情况的专项报告 一、募集资金基本情况 北京君正集成电路股份有限公司 2024 年度募集资金存放与使用情况的专项报告 2024 年 1 月 1 日至 2024 年 12 月 31 日 （本专项报告除特殊说明外，均以人民币元列示） 北京君正集成电路股份有限公司 （一）实际募集资金金额、资金到位情况 1、2020 年度发行股份购买资产募集配套资金 经中国证券监督管理委员会出具的《关于核准北京君正集成电路股份有限公司向北 京屹唐半导体产业投资中心（有限合伙）等发行股份购买资产并募集配套资金的批复》 （证监许可[2019]2938 号）核准，公司 2020 年度发行股份购买资产募集配套资金不超过 150,000.00 万元。本次募集配套资金发行人民币普通股（A 股）18,181,818 股，发行价格 为人民币 82.50 元/股，募集资金总额为人民币 1,499,999,985.00 元。截至 2020 年 8 月 28 日，公司实际收到募集资金人民币 1,499,999,985.00 元。 上述募集资金到位情况已经北京兴华会计师事务所（特殊普通合伙）验证，并由其 出具了[2020]京会 ...

北京君正集成电路股份有限公司 2024 年年度报告商誉减值 证券代码：300223 证券简称：北京君正 北京君正集成电路股份有限公司 2024 年度商誉减值测试报告 一、是否进行减值测试 是 □否 二、是否在减值测试中取得以财务报告为目的的评估报告 是 □否 | 资产组名称 | 评估机构 | 评估师 | 评估报告编号 | 评估价值类型 | 评估结果 | | --- | --- | --- | --- | --- | --- | | 收购北京矽成半 导体有限公司形 | 金证（上海）资 | 马翊君、刘怡青 | 金证评报字 【2025】第 0158 | 可回收金额 | 445,680.80 万元 | | 成的商誉相关资 | 产评估有限公司 | | 号 | | | | 产组组合 | | | | | | 三、是否存在减值迹象 | 资产组名称 | 是否存在减值 迹象 | 备注 | 是否计提减值 | 备注 | 减值依据 | 备注 | | --- | --- | --- | --- | --- | --- | --- | | 收购北京矽成 | | | | | | | | 半导体有限公 | 不存在减值迹 | 马翊君、刘怡 | ...

证券代码：300223 证券简称：北京君正 公告编号：2025-015 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 北京君正集成电路股份有限公司（以下简称 "北京君正"或"公司"）于2025年4 月17日召开第六届董事会第二次会议、第六届监事会第二次会议，审议通过了《关 于募集资金投资项目延期的议案》和《关于募集资金投资项目变更的议案》，公司 将对部分募集资金投资项目进行延期及变更。本次募集资金投资项目延期事项无需 股东大会审议，募集资金投资项目变更事项需要股东大会审议。现将有关情况公告 如下： 一、募集资金的基本情况 （一）实际募集资金金额、资金到位情况 1、2020 年度发行股份购买资产募集配套资金 经中国证券监督管理委员会（以下简称"中国证监会"）出具的《关于核准北京 君正集成电路股份有限公司向北京屹唐半导体产业投资中心（有限合伙）等发行股 份购买资产并募集配套资金的批复》（证监许可[2019]2938 号）核准，公司 2020 年 度发行股份购买资产募集配套资金不超过 150,000.00 万元。本次募集配套资金发行 人民币普通股（A 股）18,1 ...