TECHSEM(SZ:300046)2015-03-18 16:00Financial Performance - The company's operating revenue for 2014 was CNY 221,713,221.94, a slight increase of 0.73% compared to CNY 220,113,206.91 in 2013[18]. - Operating profit rose to CNY 46,250,372.03, reflecting a growth of 5.10% from CNY 44,005,458.87 in the previous year[18]. - The net profit attributable to shareholders increased by 9.29% to CNY 43,902,563.78, up from CNY 40,172,351.86 in 2013[18]. - The total profit for 2014 was 51.79 million, reflecting a year-on-year growth of 9.05%[29]. - The company achieved a slight increase in sales revenue in 2014, reversing a trend of declining performance since 2012[49]. - The company reported a positive retained earnings balance but did not propose a cash dividend distribution plan for the reporting period[92]. - The company reported a total revenue for the year of CNY 221,713,221.94, a slight increase of 0.73% compared to CNY 220,113,206.91 in the previous year[193]. - The net profit for the year was CNY 43,902,563.78, representing an increase of 6.8% from CNY 40,172,351.86 in the prior year[194]. Assets and Liabilities - The total assets at the end of 2014 were CNY 879,421,548.34, a decrease of 3.10% from CNY 907,550,339.44 in 2013[18]. - The company's total liabilities decreased by 19.62% to CNY 62,283,993.79, down from CNY 77,483,348.67 in the previous year[18]. - The asset-liability ratio decreased to 7.08%, down from 8.54% in 2013, reflecting a stronger financial position[18]. - The company's equity attributable to shareholders decreased to CNY 817,137,554.55 from CNY 830,066,990.77, a decline of approximately 1.6%[191]. - The company's total liabilities decreased to CNY 62,283,993.79 from CNY 77,483,348.67, a reduction of approximately 19.5%[190]. Cash Flow - The cash flow from operating activities was CNY 70,322,743.85, showing a decline of 2.10% compared to CNY 71,830,706.92 in 2013[18]. - The net cash flow from operating activities was CNY 70,322,743.85, slightly down from CNY 71,830,706.92, indicating a decrease of approximately 2.1%[197]. - Cash inflow from operating activities totaled CNY 182,213,409.52, compared to CNY 185,613,426.55 in the previous year, a decline of about 1.3%[197]. - Cash outflow from investing activities was CNY 12,351,368.68, down from CNY 31,905,258.26, showing a significant reduction of approximately 61.3%[197]. - The net cash flow from investing activities was negative at CNY -2,317,822.62, an improvement from CNY -15,374,086.10 in the previous period[197]. - The net cash flow from financing activities was CNY -63,005,500.00, compared to CNY -56,827,060.73, indicating a worsening of approximately 10.3%[198]. Research and Development - The company plans to enhance its R&D capabilities and accelerate the development of new products to mitigate economic fluctuations[25]. - The company has established a new key laboratory for high-power semiconductor technology, enhancing its R&D capabilities[31]. - The company has ongoing R&D projects including 7.5KV high voltage devices and high power pulse devices, which are expected to enhance market competitiveness[43]. - R&D investment in 2014 amounted to ¥11,040,549.45, representing 4.98% of operating revenue, down from 5.49% in 2013 and 6.64% in 2012[45]. - The company applied for 9 patents and obtained 5 patents in 2014, enhancing its intellectual property advantage in the semiconductor industry[62][63]. Market and Competition - The company faced risks from macroeconomic downturns affecting demand in the power semiconductor market, particularly in the steel industry[24]. - The company is focused on expanding its product offerings in high-end applications, which are expected to drive future revenue growth[44]. - The company aims to become the most competitive power semiconductor provider in China, focusing on high-end and new power electronic devices, and plans to expand its production capacity to over 2 million units[78]. - The company plans to increase its international market share, targeting 20% of total sales from exports through various cooperation methods[80]. - The company faces intensified market competition due to structural overcapacity in the industry, particularly affecting mid-to-low-end products[83]. Governance and Compliance - The company has maintained an A-level rating for information disclosure since its listing, reflecting strong governance practices[33]. - The company has established and executed an insider information management system to ensure confidentiality and compliance with relevant regulations[93]. - The company has maintained a strong governance structure, complying with relevant laws and regulations, ensuring the protection of shareholder rights[169]. - The independent directors actively participated in board meetings and provided independent opinions on significant matters, with no objections raised during the year[171]. - The company has a clear performance evaluation mechanism for its directors and senior management, promoting transparency and accountability[171]. Shareholder Information - The total number of shareholders at the end of the reporting period was 9,740, compared to 10,174 five trading days before the annual report disclosure[136]. - The largest shareholder, Xiangyang New Instrument Semiconductor Co., Ltd., holds 44.74% of shares, totaling 63,560,000 shares, with a decrease of 7,000,000 shares during the reporting period[136]. - The top ten unrestricted shareholders collectively hold 28,280,000 shares from Xiangyang New Instrument Semiconductor Co., Ltd. and 12,150,000 shares from Fuhua Far East Limited[137]. - The company reported a total share count of 142,080,000, with 62.75% (89,160,000 shares) being unrestricted shares[132]. - The number of restricted shares decreased by 17,640,000, resulting in 35,280,000 restricted shares remaining, which is 24.83% of the total shares[132].