GREAT MICROWAVE(SH:688270)2025-03-28 12:00Financial Performance - The net profit attributable to the parent company for the fiscal year 2024 is CNY 17.8496 million, with retained earnings of CNY -16.7396 million[6]. - The company plans not to distribute profits or pay cash dividends for the fiscal year 2024, considering the overall profitability and business development needs[6]. - The company has not achieved profitability since its listing[3]. - The company's operating revenue for 2024 reached approximately ¥303.38 million, representing an 8.04% increase compared to ¥280.80 million in 2023[22]. - Net profit attributable to shareholders decreased by 75.37% to ¥17.85 million from ¥72.48 million in the previous year[22]. - Basic earnings per share fell by 76.47% to ¥0.08, while diluted earnings per share also decreased by the same percentage[24]. - The company reported a net profit of 17.85 million yuan for the reporting period, a decrease of 75.37% year-on-year, and a net profit of -4.59 million yuan after deducting non-recurring gains and losses, down 107.18% year-on-year[110]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan for the fiscal year, representing a 25% year-over-year growth[183]. Revenue Growth and Projections - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a 25% year-over-year growth[21]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 20% based on current market trends and product demand[21]. - New product launches are expected to contribute an additional 300 million RMB in revenue over the next fiscal year[21]. - The company provided guidance for the next quarter, expecting revenue to grow by 15% to 1.725 billion yuan[184]. - New product launches are anticipated to contribute an additional 200 million yuan in revenue over the next year[184]. Research and Development - The company is investing in R&D for advanced technologies, allocating 10% of its revenue towards innovation and product development[21]. - Research and development expenses increased by 22.06% year-on-year, amounting to an additional ¥28.03 million compared to the previous year[25]. - The proportion of R&D investment to operating revenue rose to 51.12%, an increase of 5.87 percentage points from 45.25% in 2023[24]. - The company has achieved a total of 45 patents, including 44 domestic and 1 international patent, with no restrictions on rights such as pledges or judicial seizures[75]. - The company is focusing on developing multi-channel T/R RF microsystems, which integrate power management, digital control, and RF chips in a compact form[78]. Market Expansion and Strategy - Market expansion plans include entering two new international markets by Q3 2024, which is anticipated to increase overall market share by 5%[21]. - The company plans to continue expanding its market presence, particularly in satellite communication and satellite internet sectors[24]. - The company is exploring potential mergers and acquisitions to bolster its market position and diversify its product offerings[182]. - The company aims to increase its market share and position within the entire industry chain by expanding its product coverage in the low Earth orbit commercial satellite sector[166]. Operational Efficiency and Cost Management - The company has reported a gross margin of 45%, indicating strong operational efficiency and cost management[21]. - A new marketing strategy has been implemented, focusing on digital channels, which is expected to improve customer engagement by 30%[21]. - The company has implemented cost-cutting measures that are projected to save 50 million yuan annually[184]. Risks and Challenges - There are no significant risks that could materially affect the company's operations during the reporting period[3]. - The company is at risk of losing key R&D personnel, which could impact its ability to innovate and maintain its competitive edge in the technology-intensive integrated circuit design industry[112]. - The company faces operational risks due to the variability of customer orders, which can be influenced by factors such as annual defense budgets and demand timing[114]. - The company anticipates potential tax benefits from its high-tech enterprise status, which could be jeopardized if it fails to meet the criteria for continued qualification[117]. Governance and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The board of directors and supervisory board members have all attended the board meeting, ensuring governance compliance[4]. - The company has not violated decision-making procedures for external guarantees[8]. - The company held 1 annual general meeting and 1 extraordinary general meeting during the reporting period, with all resolutions passed and no rejected proposals[179]. Employee and Talent Management - The total number of employees in the parent company and major subsidiaries is 292, with 92 in the parent company and 200 in subsidiaries[196]. - The company has 163 R&D personnel, indicating a strong focus on innovation and product development[196]. - The company has established a salary management system that emphasizes fairness, competitiveness, and incentive principles to attract and retain talent[198]. - The company provides various training programs to enhance professional knowledge and skills, aiming to improve competitive advantages in the industry[199].