JADARD TECHNOLOGY INC.(688252)2025-03-26 14:30Financial Performance - The company's operating revenue for 2024 reached CNY 2,101,972,722.42, a year-on-year increase of 73.88%[22]. - Net profit attributable to shareholders was CNY 274,880,771.00, reflecting a growth of 143.61% compared to the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 247,386,143.78, up 145.30% year-on-year[22]. - Basic earnings per share increased to CNY 0.68, a rise of 142.86% from the previous year[23]. - The cash flow from operating activities showed a net decrease of 64.47%, amounting to CNY 136,926,588.08[22]. - The company's total assets at the end of 2024 were CNY 2,574,288,758.72, an increase of 14.85% from the previous year[22]. - The company's main business revenue for 2024 reached 2,098.27 million CNY, an increase of 75.50% compared to the previous year, with costs rising by 70.97% to 1,649.65 million CNY[91]. - Revenue from mobile intelligent terminal display driver chips was 1,614.45 million CNY, up 62.73% year-on-year, while electronic price tags, camera voice coils, and fast charging protocol chips generated 483.82 million CNY, a growth of 137.78%[92]. Research and Development - Research and development expenses accounted for 8.36% of operating revenue, a decrease of 3.54 percentage points compared to the previous year[24]. - R&D expenses amounted to 176 million yuan, representing a 22.20% increase compared to the previous year[35]. - The company has developed a new technology for AMOLED screens that adjusts driving voltage and brightness to prevent flickering during frame rate changes[37]. - The company is actively involved in the development of new technologies and products in the display driver chip sector, including TDDI and AMOLED driver ICs, to meet diverse market needs[53][54]. - The R&D team has a strong educational background, with 4 PhDs, 106 Master's degrees, and 60 Bachelor's degrees among its members[75]. - The company has continuously increased its R&D investment ratio to foster an open and inclusive innovation culture[171]. Market Expansion and Product Development - The company plans to expand its product offerings in smart mobile terminal display driver chips and electronic price tag driver chips due to increased customer demand[24]. - New products launched in 2024 include full HD display touch products for mobile phones and wearable AMOLED watch products[36]. - The company is focusing on market expansion through new product development, including a 240W charging power E-Marker chip[71]. - The company aims to diversify its product offerings, including various types of display driver chips such as LCD DDIC, TDDI, and OLED DDIC, to cover different market applications[118]. - The company is committed to expanding its market presence both domestically and internationally, leveraging the growth opportunities in the mobile smart terminal sector[117]. Corporate Governance - The company has received a standard unqualified audit report from Zhongxinghua Accounting Firm[5]. - The company has confirmed that all board members are able to guarantee the accuracy and completeness of the annual report[9]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring transparency and accountability in its operations[121]. - The company held two shareholder meetings and seven board meetings during the reporting period, maintaining active governance practices[121]. - The independent directors have fulfilled their responsibilities and ensured that the rights and interests of minority shareholders are adequately protected[154]. Sustainability and Corporate Social Responsibility - The management emphasized the importance of sustainability initiatives, aiming to reduce carbon emissions by 25% over the next five years[129]. - The company has established a sustainable development committee to integrate ESG factors into its development strategy and operational guidelines[171]. - The company has actively engaged in sustainable development practices, reinforcing its commitment to ethical standards and social contributions[171]. - The company has implemented energy-saving measures such as promoting energy-efficient lighting and optimizing equipment parameters, significantly reducing operational costs[183]. - The company adheres to international green standards (RoHS, REACH) and ensures that all production suppliers comply with these requirements[182]. Risks and Challenges - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[4]. - The competitive landscape in the display driver IC market is intensifying, posing risks to profitability if new products are not timely developed[80]. - Future macroeconomic fluctuations could significantly affect product sales and demand in the integrated circuit sector[84]. - The company is exposed to risks from currency fluctuations, particularly with USD, which could impact profit levels[82]. Employee and Compensation - The company has 187 R&D personnel, accounting for 71.37% of the total workforce, with an increase in total R&D personnel from 183 in the previous period[76]. - Total compensation for all directors, supervisors, and senior management at the end of the reporting period amounted to 1,445.23 million[135]. - Total compensation for core technical personnel at the end of the reporting period was 580.12 million[135]. - Employee stock ownership includes 174 employees, representing 66.41% of the total workforce, with a total of 3,380.72 thousand shares held, accounting for 8.26% of total equity[191]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.72 per 10 shares, totaling approximately RMB 29.24 million for the 2024 fiscal year[6]. - The cash dividend amount (including tax) is CNY 29,244,118.03, which accounts for 10.64% of the net profit attributable to ordinary shareholders in the consolidated financial statements, amounting to CNY 274,880,771.00[156]. - The cumulative cash dividend amount (including tax) over the last three accounting years is CNY 51,949,885.37, representing a cash dividend ratio of 30.12% based on the average annual net profit of CNY 172,500,230.53 during the same period[158]. - The company has not proposed a cash profit distribution plan despite having positive distributable profits for the reporting period[155].