Hefei Chipmore Technology (SH:688352)2025-03-31 13:10Dividend Distribution - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares, totaling approximately 59.45 million yuan (including tax) based on a total share capital of 1,189.037288 million shares as of December 31, 2024[5]. - The company has completed the cash dividend distribution of 59.45 million yuan (including tax) for the first three quarters of 2024 on November 22, 2024[5]. - The company plans to distribute a cash dividend of RMB 0.5 per 10 shares (including tax), totaling RMB 59,451,864.40 for the year 2024[179]. - The net profit attributable to shareholders for the year 2024 is RMB 313,276,970.57, with a cash dividend payout ratio of 37.95%[180][184]. - The cumulative cash dividend amount for the last three accounting years is RMB 118,903,728.80, with an average net profit of RMB 313,276,970.57 during the same period[185]. Financial Performance - The company's operating revenue for 2024 reached ¥1,959,375,628.33, representing a year-on-year increase of 20.26% compared to ¥1,629,340,035.50 in 2023[23]. - The net profit attributable to shareholders for 2024 was ¥313,276,970.57, a decrease of 15.71% from ¥371,662,508.64 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥276,676,779.67, down 18.55% from ¥339,685,424.03 in 2023[23]. - The net cash flow from operating activities for 2024 was ¥690,346,690.70, an increase of 27.54% compared to ¥541,275,168.61 in 2023[23]. - As of the end of 2024, the total assets amounted to ¥6,991,013,658.68, a decrease of 2.27% from ¥7,153,333,609.63 at the end of 2023[23]. - The net assets attributable to shareholders at the end of 2024 were ¥6,003,292,022.20, an increase of 2.97% from ¥5,830,126,768.94 at the end of 2023[23]. - Basic earnings per share (EPS) decreased by 21.21% to CNY 0.26 compared to CNY 0.33 in the previous period[25]. - Diluted EPS also decreased by 21.21% to CNY 0.26 from CNY 0.33[25]. - The gross profit margin for the reporting period was 31.16%, showing a slight decline compared to the same period last year[93]. - The company's operating revenue reached CNY 1,959,375,628.33, representing a year-on-year increase of 20.26%[107]. - Operating costs amounted to CNY 1,346,577,141.81, reflecting a year-on-year increase of 28.56%[107]. Research and Development - The company's R&D investment as a percentage of operating revenue increased by 1.37 percentage points to 7.89%[25]. - Research and development investment reached 154.69 million yuan, an increase of 45.53% year-on-year, with R&D personnel growing to 284, up 26.22%[38]. - The cumulative R&D investment over the last three accounting years is RMB 154,686,627.28, representing 7.89% of cumulative operating revenue[185]. - The company has developed advanced packaging technologies, including high-reliability gold bump manufacturing and efficient heat dissipation techniques, which are critical for high-end chip performance[80]. - The company has established a robust R&D foundation with proprietary technologies covering all processes from bump manufacturing to wafer testing and packaging[80]. Market Position and Strategy - The company is positioned as a high-end service provider in the integrated circuit packaging and testing sector, maintaining a leading position in the domestic market[55]. - The company is actively expanding its business into non-display chip packaging, focusing on power management and RF front-end chips, to diversify its product offerings[62]. - The company is focusing on advanced packaging technology as a key factor for chip upgrades, aiming to strengthen its core competitiveness in the advanced packaging and testing field[134]. - The company is committed to optimizing its customer structure and expanding its business coverage to overseas clients, responding to the trend of the display and integrated circuit industries moving to mainland China[135]. - The company is dedicated to achieving the localization goal in the advanced packaging and testing industry, improving the overall technical level of the sector[135]. Governance and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated any decision-making procedures for providing guarantees[7]. - The company has not disclosed any special arrangements for corporate governance[8]. - The company has not faced any situations where more than half of the directors cannot guarantee the authenticity, accuracy, and completeness of the annual report[8]. - The company has not reported any significant changes in its business, products, or services during the reporting period[117]. - The company adheres to all relevant laws and regulations in corporate governance, ensuring the protection of shareholder interests[200]. Risks and Challenges - The company has outlined various risks it may face in its production and operation processes in the report[3]. - The company faces risks related to the loss of core technical talent, which could adversely affect R&D and production[92]. - The company is exposed to foreign exchange risks due to overseas sales and purchases primarily settled in USD or JPY[95]. - The company is at risk of intensified market competition, particularly in the advanced packaging sector, which could impact business performance[101]. - The company has a significant inventory value of 468.47 million yuan, accounting for 6.70% of total assets, exposing it to inventory impairment risks[96]. Management and Personnel - The company has a total of 1,000 core technical personnel, with no changes in the number during the reporting period[149]. - The management team has over 15 years of experience in the advanced packaging industry, contributing to the company's growth and industry position[89]. - The company has a strong management team with extensive experience in the technology sector[154]. - The company is led by a diverse management team, including several vice presidents and a secretary, with varying years of experience[150]. - The company has a well-structured training program to enhance employee skills and support talent development[176]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 10% for the next quarter, aiming for 1.32 billion RMB[151]. - The company plans to enhance its product structure and increase R&D investment, targeting new applications such as electric vehicles and 5G technology[136]. - The company aims to establish a full-process turnkey service by 2025, covering bumping, wafer testing, flip chip packaging, and finished chip testing[136]. - The company has set ambitious performance guidance for the upcoming fiscal year, aiming for a revenue growth of over 20%[154].