SLC(002106)2025-03-28 13:50Financial Performance - The company's operating revenue for 2024 reached ¥5,895,565,594.77, representing a 5.54% increase compared to ¥5,585,850,763.16 in 2023[28]. - The net profit attributable to shareholders for 2024 was ¥374,444,714.61, a slight decrease of 0.43% from ¥376,046,719.80 in 2023[28]. - The net cash flow from operating activities decreased by 33.51% to ¥481,850,961.10 in 2024, down from ¥724,655,273.61 in 2023[28]. - The total assets of the company increased by 40.85% to ¥9,446,208,784.60 at the end of 2024, compared to ¥6,706,352,095.67 at the end of 2023[28]. - The net assets attributable to shareholders rose by 3.82% to ¥5,413,309,882.11 at the end of 2024, up from ¥5,213,969,499.89 at the end of 2023[28]. - The company reported a basic earnings per share of ¥0.5305 for 2024, a decrease of 0.43% from ¥0.5328 in 2023[28]. - The company achieved a total revenue of ¥589,556.56 million in 2024, an increase of ¥30,971.48 million or 5.54% compared to the previous year, primarily driven by the growth in sales of large-size capacitive touch screens and automotive cover glass products[50]. - The sales revenue from fully bonded products reached ¥511,162.91 million, accounting for 86.70% of total sales revenue in 2024, with a year-on-year increase of ¥15,827.41 million or 3.20% due to changes in product structure leading to higher average sales prices[52]. Research and Development - The company is focused on developing new technologies and products, particularly in the touch screen and display sectors[13]. - The company is committed to increasing R&D investment in new products and technologies, including integrated touch display products and panel-level packaging (PLP)[17]. - Research and development expenses increased by 9.66% to approximately 282.11 million yuan in 2024, primarily due to higher material consumption in R&D[68]. - The company has applied for and authorized a total of 630 patents, including 621 in mainland China, which strengthens its intellectual property position and technological capabilities[48]. - The company aims to enhance its research and development efforts in panel-level packaging (PLP) technology and related products, with a focus on FCBGA substrates and SLP products, to foster new business growth points[181]. - The company plans to deepen collaboration with research institutions in 2024 to advance the development of fan-out panel-level packaging (FOPLP) technology and glass through-hole (TGV) technology[181]. Market Outlook - The company anticipates a slight recovery in global notebook shipments in 2024, with a projected increase in shipments for 2025 compared to the previous year[16]. - The global notebook computer market is expected to see a 4.9% year-over-year increase in shipments in 2025, reaching approximately 183 million units[103]. - The demand for AI PC products is anticipated to grow significantly in 2025, driven by hardware and software upgrades, marking 2024 as a pivotal year for development[100]. - The company aims to consolidate its position as a leading manufacturer of touch screens for laptops, with a focus on developing new products to support AI PC applications[113]. - The company plans to expand its MED product market into education and large-size electronic paper displays for indoor and outdoor use by 2025[113]. Governance and Compliance - The company guarantees the accuracy and completeness of the financial report, with key personnel affirming the report's integrity[6][7]. - The company has a comprehensive governance structure, ensuring accountability and transparency in its operations[4]. - The financial report is subject to audit by a registered accounting firm, ensuring compliance with regulatory standards[11]. - The company has established a comprehensive internal control system to ensure compliance, asset security, and the integrity of financial reporting[200]. - The internal audit system has been developed to ensure compliance with laws and regulations, enhancing governance levels[143]. Competition and Risks - The company faces intensified competition from embedded touch display technologies (On Cell/In Cell), which may impact the market for external touch screens[16]. - The company recognizes the risk of exchange rate fluctuations affecting its export sales, which are primarily settled in USD[19]. - The company anticipates increased management and financial expenses in 2024 due to the pre-production costs of the new micro-cavity electronic paper display project and related depreciation and property tax expenses[50]. - The company faces significant competition from embedded structure touch screens, which may impact its market share in large-size capacitive touch screens[117]. Investment and Expansion - The company has established a new subsidiary, Zhejiang Laibao Display Technology Co., Ltd., with a planned total investment of RMB 1 billion for the MED project[19]. - The company plans to expand its product offerings by developing new products and markets, including GMF and AOFT structures, targeting commercial and 2-in-1 notebooks[17]. - The company is actively pursuing the construction and implementation of the MED project, aiming for early production[119]. - The company plans to collaborate with local governments to invest in the MED project, indicating a strategic focus on expanding its product offerings in the electronic display market[87]. Shareholder Information - The total share capital as of December 31, 2024, is 705,816,160 shares, with a cash dividend of 1.00 yuan per 10 shares, totaling 70,581,616.00 yuan distributed to shareholders[8]. - The company plans to distribute a cash dividend of 2.5 CNY per 10 shares, totaling 176,454,040 CNY, based on a total share capital of 705,816,160 shares as of December 31, 2023[195]. - The cash dividend will be distributed on June 20, 2024, with no capital reserve fund conversion to increase share capital or bonus shares issued for the 2023 fiscal year[195]. - The company reported a total distributable profit of 2,019,064,655.65 CNY, with the cash dividend amounting to 70,581,616 CNY, representing 100% of the profit distribution total[197]. Employee and Management - The total number of employees at the end of the reporting period was 4,881, with 1,558 in the parent company and 3,323 in major subsidiaries[189]. - The company has implemented a performance-based salary system for management and technical staff, linking compensation to monthly, quarterly, and annual performance evaluations[190]. - The management team has been strengthened with the addition of experienced professionals in key positions, enhancing operational efficiency[169]. - The company has a workforce composition of 1,082 production personnel, 336 technical personnel, and 48 sales personnel among others[189].