TECHSEM(SZ:300046)2025-04-02 10:45Financial Performance - The company's operating revenue for 2024 was CNY 354,143,969.01, representing a 10.76% increase compared to CNY 319,732,631.57 in 2023[18]. - The net profit attributable to shareholders for 2024 decreased by 18.77% to CNY 25,293,529.83 from CNY 31,139,731.49 in 2023[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 88.94% to CNY 47,593,614.01 from CNY 25,189,169.43 in 2023[18]. - The net cash flow from operating activities for 2024 was CNY 83,919,598.32, up 17.52% from CNY 71,408,827.64 in 2023[18]. - The total assets at the end of 2024 were CNY 1,235,399,005.21, a 1.65% increase from CNY 1,215,318,428.73 at the end of 2023[18]. - The net assets attributable to shareholders at the end of 2024 were CNY 1,105,640,710.69, reflecting a 1.23% increase from CNY 1,092,154,070.65 at the end of 2023[18]. - The basic earnings per share for 2024 were CNY 0.1069, down 18.83% from CNY 0.1317 in 2023[18]. - The weighted average return on equity for 2024 was 2.28%, a decrease of 0.62% from 2.90% in 2023[18]. - The total profit amounted to CNY 25.17 million, representing a year-on-year decline of 34.01%[33]. - The company’s financial performance indicates a significant loss of CNY 25,094,741.32 from fair value changes in financial assets and liabilities, contrasting with a gain of CNY 15,276,552.50 in the previous year[24]. Market Position and Operations - The company maintains a leading position in the domestic market for high-power semiconductor devices, with a focus on expanding applications in digital energy and clean energy sectors[29]. - The company’s revenue from main business operations is expected to grow year-on-year due to intensified market development efforts and structural adjustments[29]. - The company has established a complete integrated operation model (IDM) for power semiconductor devices, enhancing its ability to adapt to domestic substitution and market demands[30]. - The company is actively involved in the national standardization work for power semiconductors, holding leadership roles in five national standardization technical committees[31]. - The company anticipates continued growth in the power semiconductor industry, supported by favorable government policies and the trend of import substitution[27]. - The company sold 204.09 million power semiconductor devices, with thyristor sales increasing by 10.43% to 704,000 units, while module sales decreased by 13.42%[33]. - The company secured significant orders in the special power supply sector, leading to a substantial increase in shipment volumes, and digital energy device sales rose over 40% year-on-year[34]. Research and Development - The company has a total of 61 semiconductor technology patents, including 13 invention patents, and has participated in drafting over 30 international and national standards[31]. - The company has completed the 6-inch 8.5kV high-voltage thyristor wafer line expansion project, aiming to lead the high-power semiconductor technology development[46]. - The company has established a third-generation semiconductor research initiative, focusing on SiC materials and power devices to enhance its competitive edge[46]. - Research and development expenses for 2024 amount to ¥24,181,621.77, which is 6.83% of the operating revenue, an increase from 5.43% in 2023[48]. - Capitalized R&D expenses for 2024 are ¥10,067,704.60, which is 41.63% of total R&D expenses, significantly higher than 15.86% in 2023[48]. - The number of R&D personnel increased by 1.43% to 71 in 2024, with a slight decrease in the proportion of R&D personnel to 13.22%[47]. Cash Flow and Financing - Operating cash inflow totaled ¥244.31 million, an increase of 5.70% compared to ¥231.13 million in 2023[50]. - Investment cash inflow decreased by 9.04% to ¥527.27 million, down from ¥579.69 million in the previous year[50]. - Net cash flow from investment activities was -¥4.33 million, a significant decline of 113.39% compared to ¥32.34 million in 2023[50]. - Cash and cash equivalents increased by ¥70.11 million, a decrease of 33.57% from ¥105.54 million in the prior year[50]. - Financing cash inflow was reported at ¥0, a 100% decrease due to the absence of minority shareholder investments received in the previous year[51]. - Financing cash outflow surged by 2898.36% to ¥9.48 million, primarily due to stock incentive repurchase and cancellation[51]. - Net financing cash flow was -¥9.48 million, a decline of 628.21% from the previous year's inflow of ¥1.79 million[52]. Shareholder and Governance - The company plans to distribute a cash dividend of CNY 0.8 per 10 shares to all shareholders[4]. - The company held three shareholder meetings in 2024, with the annual meeting on May 17, 2024, having a participation rate of 26.33%[88]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[83]. - The supervisory board has 3 members, including 1 employee supervisor, ensuring effective oversight of major matters and compliance[84]. - The company has established an independent financial department with a complete accounting system and independent bank accounts[87]. - The company has a transparent information disclosure system, ensuring timely and accurate communication with investors[85]. - The company actively respects and protects the rights of stakeholders, including shareholders, employees, and customers[84]. Environmental and Social Responsibility - The company has been designated as a key regulatory enterprise for soil in 2024, conducting soil hazard investigations and self-monitoring[127]. - The company has a wastewater treatment system that includes neutralization and sedimentation, ensuring compliance before discharge into municipal sewage systems[128]. - The company has established a dedicated environmental monitoring plan and submits quarterly reports on environmental compliance[130]. - The company has invested in environmental governance facilities designed by a qualified institution, with annual budget allocations for environmental management[130]. - The company adheres to legal regulations regarding labor rights, providing a good working and living environment for employees[132]. - The company has implemented a social responsibility management system, conducting regular internal audits and external reviews[132]. Related Party Transactions and Compliance - The company is involved in related party transactions, ensuring that prices do not deviate from market standards and comply with relevant regulations[137]. - The company has a commitment to avoid and minimize related party transactions, adhering to principles of equality and fairness[138]. - A court ruling mandated that a related party must pay the company a performance compensation of 40 million yuan, although the defendant has no assets for execution[139]. - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[140]. - The company has no instances of illegal external guarantees during the reporting period[141]. Audit and Financial Reporting - The audit report issued by Beijing Dehao International Accounting Firm confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2024[194]. - The management's assessment of the recoverability of accounts receivable is considered reasonable based on the audit work performed[199]. - The audit identified key audit matters including revenue recognition and the recoverability of accounts receivable, which were addressed through various audit procedures[196][197]. - The company has not encountered any significant issues in the integration of subsidiaries during the reporting period[122]. - The internal control audit report indicates that the company maintained effective internal control over financial reporting as of December 31, 2024[125].