Shannon Semi(300475)2025-04-07 12:20Financial Performance - The company's operating revenue for 2024 reached ¥24.27 billion, a 115.40% increase compared to ¥11.27 billion in 2023[5]. - The net profit attributable to shareholders decreased by 30.08% to ¥264.07 million in 2024 from ¥377.66 million in 2023[5]. - The net profit after deducting non-recurring gains and losses was ¥304.62 million, a slight increase of 0.03% from ¥304.53 million in 2023[5]. - The net cash flow from operating activities was negative at -¥47.65 million, a decline of 106.70% compared to ¥711.65 million in 2023[5]. - Total assets increased by 66.87% to ¥7.58 billion at the end of 2024 from ¥4.55 billion at the end of 2023[5]. - The company's weighted average return on equity decreased to 9.65% in 2024 from 15.93% in 2023, a drop of 6.28%[5]. - The electronic components distribution business generated ¥23.58 billion, accounting for 97.15% of total revenue, with a year-on-year growth of 115.23%[42]. - The integrated circuits (including storage) segment contributed ¥23.87 billion, which is 98.35% of the revenue from products, showing a 117.90% increase from the previous year[42]. - The overseas revenue significantly increased to ¥22.86 billion, making up 94.18% of total revenue, with a growth rate of 138.96%[42]. - The electronic components manufacturing segment saw a dramatic increase of 210,615.18%, reaching ¥292 million, indicating a significant expansion in this area[42]. Dividend and Shareholder Information - The company reported a cash dividend of 0.58 RMB per 10 shares (including tax) to all shareholders, based on a total of 457,565,767 shares[5]. - The company has a cash dividend policy, distributing a cash dividend of 1.66 yuan per 10 shares for the fiscal year 2023, totaling approximately 26.54 million yuan[158][161]. - The cash dividend represents 100% of the total distributable profit for the period, which amounts to approximately 411.57 million yuan[161]. - For the fiscal year 2024, the company plans to distribute a cash dividend of 0.58 yuan per 10 shares, pending shareholder approval[161]. Corporate Governance and Management - The company has a strong management team with extensive experience in the electronic components industry, which supports its sustainable growth[38]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with regulatory requirements[110]. - The company has developed a comprehensive internal control system to enhance governance and operational efficiency[112]. - The company has successfully completed the restructuring of its supervisory board, ensuring compliance with legal requirements[111]. - The company has implemented measures to protect the rights of minority shareholders, ensuring equal treatment and participation in decision-making[108]. - The company has a clear strategy for governance with a focus on maintaining a diverse and experienced board[126]. - The company has a dedicated procurement, production, and management team, demonstrating its independent operational capabilities[117]. Research and Development - The company has successfully completed the R&D and trial production of enterprise-level DDR4, DDR5, and Gen4 eSSD products, which are now in mass production[29]. - The company aims to deepen collaboration within the industry chain and increase R&D investment to develop advanced domestic storage brands and products[29]. - The number of R&D personnel increased by 15% from 40 to 46, with a significant rise in bachelor's degree holders from 9 to 21, representing a 133.33% increase[55]. - R&D investment for 2024 amounted to ¥20,843,046.86, maintaining a consistent ratio of 0.09% of operating revenue compared to previous years[55]. - The company is investing 50 million in R&D for new technologies aimed at enhancing product efficiency and user experience[134]. Market Outlook and Strategy - The global semiconductor market is projected to grow by 19.1% in 2024, with sales expected to reach approximately $627.6 billion[27]. - The global smartphone market is expected to see a shipment volume of about 1.24 billion units in 2024, reflecting a growth of 6.4%[27]. - The AI server market is anticipated to grow by 46% year-on-year in 2024, indicating strong demand in the sector[27]. - The semiconductor distribution business is expected to grow significantly due to the surge in demand driven by artificial intelligence and the recovery of electronic products[88]. - The company is actively pursuing market expansion and new product development in the semiconductor sector[142]. Operational Challenges and Risks - The company emphasizes the uncertainty of future plans and strategies due to macroeconomic and market conditions, urging investors to be aware of investment risks[5]. - The company’s future development outlook includes potential risks that may affect business growth, as discussed in the management analysis section[5]. - The company faces risks related to supplier dependency, particularly on SK Hynix, which poses a challenge given the high concentration of the DRAM market[92]. Compliance and Transparency - The company’s financial report has been confirmed as true, accurate, and complete by its management, ensuring transparency[5]. - The company’s financial statements are available for public inspection at the Shenzhen Stock Exchange, ensuring compliance with disclosure requirements[16]. - The company emphasizes compliance with laws and regulations, ensuring timely and accurate information disclosure to enhance transparency[175]. - The internal control audit report was disclosed on April 8, 2025, confirming no major deficiencies[172]. Employee and Training Initiatives - The company emphasizes the importance of employee training and development to ensure long-term growth and a positive corporate culture[156]. - The total number of employees at the end of the reporting period is 576, with 19 holding master's degrees and 91 holding bachelor's degrees[154]. - The company has established a competitive compensation mechanism, offering performance-based pay for sales personnel and piece-rate wages for production staff[155]. Environmental and Social Responsibility - The company actively promotes environmental protection by implementing energy-saving measures and advocating for a paperless office[174]. - The company focuses on reducing carbon emissions and promoting energy efficiency within the semiconductor industry[174]. - The company aims to support local economic development while creating value for shareholders through stable profit distribution[175].