康强电子(002119) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥1,964,560,106, representing a 10.38% increase compared to ¥1,779,856,600 in 2023 [24]. - The net profit attributable to shareholders for 2024 was ¥83,189,740.9, a 3.24% increase from ¥80,575,619.0 in 2023 [24]. - The net profit after deducting non-recurring gains and losses was ¥56,831,592.11, showing a decrease of 2.99% from ¥58,580,678.59 in 2023 [24]. - The net cash flow from operating activities for 2024 was ¥43,920,265.54, a significant increase of 463.73% compared to ¥7,790,942.06 in 2023 [24]. - The basic earnings per share for 2024 was ¥0.22, up 4.76% from ¥0.21 in 2023 [24]. - Total assets at the end of 2024 were ¥2,337,587,924, reflecting a 0.83% increase from ¥2,318,443,400 at the end of 2023 [24]. - The net assets attributable to shareholders increased by 5.55% to ¥1,367,217,590 at the end of 2024 from ¥1,295,280,170 at the end of 2023 [24]. - The company achieved total revenue of 1.965 billion yuan in 2024, an increase of 10.38% compared to the previous year [51]. - The net profit attributable to shareholders reached 83.19 million yuan, up 3.24% year-on-year [51]. Market and Industry Trends - The semiconductor packaging materials industry is showing signs of recovery in 2024, with a projected global semiconductor industry revenue of $626.87 billion, a 19% increase from the previous year [34]. - The global semiconductor industry is increasingly migrating to mainland China, supported by government policies aimed at enhancing innovation and competitiveness [35]. - The domestic market for the company's lead frames and bonding wires is leading, with significant growth in the integrated circuit packaging and testing industry driving demand [36]. - The Chinese semiconductor industry is expected to maintain rapid growth, supported by favorable policies such as tax incentives for integrated circuit design and software companies [37]. - The semiconductor packaging materials market is expected to exceed $26 billion by 2025, with a compound annual growth rate of 5.6% by 2028 [95]. Risk Management - The company emphasizes the significant impact of the semiconductor industry's cyclical nature on its operational performance, closely monitoring market demand trends [4]. - The company is exposed to risks from fluctuations in raw material prices, particularly for copper, gold, and silver, which constitute a high proportion of its product costs [5]. - The company has implemented risk mitigation strategies for raw material price volatility, including zero inventory for key materials and centralized procurement [5]. - The company has a proactive approach to managing foreign exchange risks due to its export activities and imported raw materials [5]. - The company is addressing potential risks related to market fluctuations, raw material price volatility, and talent shortages by closely monitoring market demand and optimizing its talent management system [98]. Research and Development - The company focuses on independent R&D, having developed a range of new products that meet market demands and industry trends [42]. - The company has participated in multiple key national and provincial R&D projects, enhancing its innovation capabilities and leading the formulation of national industry standards [36]. - The company has made significant breakthroughs in new technologies and products through national major science and technology projects, enhancing its sustainable development [94]. - The company plans to develop high-reliability ultra-fine bonding copper wire to replace imports, with an expected annual sales increase of ¥2 million upon successful implementation [70]. - The project for high-precision LQFP framework aims to achieve sales exceeding ¥30 million, addressing the global supply shortage [71]. Talent Management - The company acknowledges potential risks related to talent shortages as it expands, committing to enhancing its human resource management system [5]. - The company is committed to continuous investment in talent acquisition and training to support its growth strategy [5]. - The company recognizes the importance of maintaining a flexible and efficient talent management system to align with its development needs [5]. - The company has implemented a transparent performance evaluation system to optimize its incentive mechanisms and enhance employee engagement [97]. - The company has a performance-oriented compensation policy that aligns employee performance with their interests, with salaries consisting of base pay, allowances, and performance bonuses [132]. Corporate Governance - The company maintains a strong governance structure, ensuring compliance with relevant laws and regulations, and actively engages with shareholders [102]. - The company has established a robust investor relations management system to ensure timely and accurate information disclosure to all stakeholders [104]. - The company has established an independent financial accounting department and operates its own accounting system, ensuring compliance with accounting standards [106]. - The governance structure of the company is strictly executed according to its articles of association, ensuring operational independence [106]. - The company has established a complete and independent labor management system, ensuring no interference from the largest shareholder [105]. Environmental Responsibility - The company has implemented sufficient pollution prevention facilities, ensuring that wastewater and exhaust gas are discharged in compliance with standards [150]. - The company has zero significant defects in financial reporting, indicating strong internal control measures [145]. - The company has established a comprehensive environmental impact assessment process for its projects, ensuring compliance with regulatory requirements [148]. - The company achieved a water reuse rate of over 85% during the reporting period, contributing to its environmental sustainability efforts [156]. - The company has committed to building a resource-saving and environmentally friendly enterprise as part of its sustainable development strategy [156]. Shareholder Relations - The company reported a distributable profit of 645,596,269.96 CNY for the reporting period [137]. - The company's profit distribution policy emphasizes cash dividends, maintaining a 100% ratio of cash dividends to total profit distribution [137]. - The company plans to implement an annual cash dividend distribution, with a minimum of 10% of the distributable profit attributable to the parent company for each year from 2024 to 2026 [172]. - The cumulative cash distribution over the next three years should not be less than 30% of the average annual distributable profit attributable to the parent company [172]. - The company continues to prioritize shareholder feedback in its profit distribution decisions [134].