GigaDevice(603986)2025-04-25 09:35Financial Performance - In 2024, the company achieved operating revenue of approximately 7.36 billion RMB, a year-on-year increase of 27.69%[26]. - The net profit attributable to shareholders reached approximately 1.10 billion RMB, reflecting a significant year-on-year growth of 584.21%[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately 1.03 billion RMB, with a staggering increase of 3,660.79% compared to the previous year[26]. - The basic earnings per share rose to 1.66 RMB, up 591.67% from 0.24 RMB in 2023[27]. - The company’s weighted average return on equity increased to 6.94%, up 5.88 percentage points from the previous year[27]. - The total assets of the company at the end of 2024 were approximately 19.23 billion RMB, an increase of 16.85% compared to the end of 2023[26]. - The company achieved a revenue of 7.36 billion RMB in 2024, representing a year-on-year growth of 27.69%[72]. - The net profit attributable to shareholders reached 1.10 billion RMB, a significant increase of 584.21% compared to the previous year[72]. Dividend and Share Repurchase - The company plans to distribute a cash dividend of 3.40 RMB per 10 shares, totaling approximately 225,132,594.60 RMB, which represents 20.42% of the net profit attributable to shareholders for the fiscal year 2024[6]. - The total amount for cash dividends and share repurchases is 484,677,134.60 RMB, accounting for 43.96% of the net profit attributable to shareholders for the fiscal year 2024[7]. - The company has implemented a share repurchase amounting to 259,544,540.00 RMB, excluding transaction costs, with 154,552,944.00 RMB used for share repurchase and cancellation[7]. - The company does not plan to increase capital reserves or issue bonus shares[8]. - Over the last three fiscal years, the cumulative cash dividend amount (including tax) reached 638,688,186.36 RMB, with a cash dividend ratio of 76.26% based on the average annual net profit[169]. Market and Product Development - The company’s product shipment volume reached 4.36 billion units, a year-on-year increase of 39.72%[39]. - The company’s NOR Flash products saw significant growth in various sectors, contributing to a historical high in overall shipment capacity[40]. - The market share of the company’s self-branded DRAM products continued to rise, with DDR3L and DDR4 product shipments more than doubling year-on-year[40]. - The MCU product revenue and shipment volume both achieved good year-on-year growth, reaching a historical high in shipment volume[40]. - The company has shipped over 200 million automotive-grade flash memory products, maintaining strong growth in the automotive market[41]. - The company has successfully mass-produced over 700 MCU products across 63 major series, catering to various applications including digital energy and automotive[44]. - The company launched the first domestic 2Gb high-performance SPI NOR Flash series and the first ultra-high-speed 8-channel SPI NOR Flash products, maintaining a leading position in technology and market[63]. Research and Development - The company’s R&D expenses amounted to 1.12 billion RMB, reflecting a year-on-year increase of 13.38%[73]. - The total R&D expenditure for the period amounted to 1,256,115,939.96 RMB, representing 17.08% of total revenue[87]. - The number of R&D personnel is 1,481, accounting for 70.96% of the total workforce[88]. - The company has a total of 1,059 authorized patents as of the end of 2024, with 101 new patents granted in the year[71]. Governance and Compliance - The company maintains a governance structure that includes a board of directors, supervisory board, and management team, ensuring clear responsibilities and coordination[122]. - The company has established a comprehensive governance system, including rules for shareholder meetings, board meetings, and independent directors, to ensure standardized operations[123]. - The company emphasizes transparency in information disclosure, providing timely and accurate information to all shareholders[124]. - The company’s governance practices align with relevant laws and regulations, ensuring compliance and protecting shareholder rights[125]. - The company has not faced any penalties from securities regulatory authorities in the past three years[142]. Environmental and Social Responsibility - The company generated 310.239 MWh of electricity from its rooftop photovoltaic project, reducing carbon dioxide emissions by approximately 176.929 tons in 2024[185]. - The company purchased 1,000 MWh of international green certificates and 1,200 MWh of domestic green certificates, equivalent to a reduction of 1,633.875 tons of carbon dioxide emissions[185]. - Total donations for social responsibility projects amounted to 1.5874 million RMB, with 1.4 million RMB in cash donations[189]. - The company supported 23,042 individuals through various charitable initiatives[190]. - The company has committed to avoiding any business activities that may compete with its core operations[196]. Strategic Initiatives - The company plans to invest approximately 1.2 billion yuan in the automotive MCU chip R&D and industrialization project, with 706 million yuan allocated from raised funds[45]. - The company is actively exploring customized storage solutions to meet differentiated demands from downstream manufacturers[107]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of 100 million RMB allocated for potential deals[136]. - The company is expanding its leadership presence in the technology sector through strategic appointments and partnerships, aiming for growth in emerging markets[135]. Talent Management - The company has established a comprehensive talent development and training system to support business growth and organizational capability enhancement in 2024[159]. - The company has implemented a stock option incentive plan for core management and key business personnel to align employee interests with long-term company performance[158]. - The company aims to continuously optimize its compensation and benefits system to attract and retain top talent[158]. - The company is actively addressing talent retention risks by offering competitive compensation and fostering a strong corporate culture[118].