2025-03-25 12:00Financial Performance - The company has not yet achieved profitability since its listing[4]. - The company's operating revenue for 2024 reached CNY 359,022.38 million, representing a 1.53% increase compared to CNY 353,625.94 million in 2023[23]. - Net profit attributable to shareholders for 2024 was CNY 57,259.51 million, a decrease of 20.42% from CNY 71,949.44 million in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 46,415.11 million, down 18.92% from CNY 57,249.22 million in 2023[23]. - The net cash flow from operating activities for 2024 was CNY 73,246.56 million, a significant recovery from a negative cash flow of CNY -70,816.66 million in 2023[23]. - The overall gross profit margin decreased by 5.26 percentage points, with a gross profit decline of approximately 155.97 million yuan[25]. - The company achieved a revenue of 502.52 million RMB, with a net profit of 249.26 million RMB, reflecting a strong financial performance[85]. - The company reported a net profit margin of 15%, up from 12% in the previous quarter, reflecting improved operational efficiency[144]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.8 per 10 shares, totaling approximately RMB 65,714,184 (including tax) for the 2024 fiscal year[6]. - The board of directors has approved the profit distribution plan, pending approval at the annual general meeting[6]. - The cash dividend amount distributed was RMB 65,714,184.00, representing 11.48% of the net profit attributable to ordinary shareholders[178]. - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling approximately RMB 81,906,040.00 (including tax) for the 2023 fiscal year[175]. Research and Development - The company invested approximately RMB 1.14 billion in R&D during the reporting period, a decrease of 4.03% year-on-year[43]. - Research and development expenses accounted for 31.80% of operating revenue, a decrease of 1.84 percentage points[24]. - The company achieved a total R&D investment of CNY 114,166.37 million, a decrease of 4.03% compared to the previous year[78]. - The company has established a multi-level R&D system, resulting in a rich product line that includes security and identification chips, non-volatile memory, smart meter chips, and more, serving various applications in finance, social security, and mobile payments[88]. - The company is focusing on the development of new technologies, particularly in integrated circuit design, to enhance product offerings[145]. - The company is investing in R&D, allocating $E million towards new technology development, focusing on innovation in the semiconductor sector[143]. Market Position and Strategy - The company plans to actively expand new products and markets to enhance market share amidst intense competition[25]. - The company is exploring market expansion opportunities and potential mergers and acquisitions to enhance its competitive position[136]. - The company is actively expanding its international market presence while maintaining rapid domestic growth, with subsidiaries established in the US, Singapore, Hong Kong, and Taiwan to enhance its global competitiveness[91]. - The company has established partnerships with key industry players to leverage synergies and enhance competitive positioning[143]. - The company is considering strategic acquisitions to enhance its product portfolio, with potential targets identified[143]. Risks and Compliance - The company has disclosed potential risks in the "Management Discussion and Analysis" section of the report[4]. - The company faces risks related to new product development and technology iteration, as the integrated circuit design industry is characterized by rapid technological advancements and high competition[93]. - The company is exposed to financial risks, including potential declines in gross margin due to increased competition and changes in market demand, which could adversely affect its profitability[94]. - The company has not faced any penalties from securities regulatory agencies in the past three years[154]. Corporate Governance - The audit report issued by Ernst & Young Huaming is a standard unqualified opinion[5]. - There are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has no violations of decision-making procedures regarding external guarantees[11]. - The company has not disclosed any special arrangements for corporate governance[9]. - The company has a structured performance evaluation system for its directors and senior management, ensuring remuneration aligns with performance[152]. Environmental, Social, and Governance (ESG) - The company achieved an ESG rating of A from Wind, indicating strong performance in environmental, social, and governance practices[194]. - The company has established a dedicated Environmental, Social, and Governance (ESG) committee to oversee the implementation of its ESG strategies[191]. - The company reduced carbon emissions by approximately 500 tons of CO2 equivalent through the use of photovoltaic power systems and adjustments to air compressor parameters[198]. - The company has implemented ISO14001 and IECQ QC080000 certifications, ensuring compliance with environmental management standards[197]. Employee and Management - The total number of employees is 2,077, with 1,493 in the parent company and 584 in major subsidiaries[169]. - The company has a competitive compensation policy, including salaries, bonuses, and various benefits, and conducts annual salary adjustments based on performance evaluations[171]. - The company has a strong talent cultivation and incentive mechanism, forming a diverse and multi-level R&D talent team, which is crucial for maintaining its competitive edge in the technology-intensive integrated circuit design industry[90]. - The company has appointed several key personnel, including a new Chief Investment and Financial Officer at Baillie Group since August 2023[146].