FHM(300613)2025-04-11 12:50Financial Performance - The company's operating revenue for 2024 was ¥1,790,367,370.80, a decrease of 1.76% compared to ¥1,822,382,478.27 in 2023[17]. - The net profit attributable to shareholders for 2024 was ¥257,649,670.56, reflecting a 2.04% increase from ¥252,492,036.88 in 2023[17]. - The net profit after deducting non-recurring gains and losses was ¥221,791,017.80, up 1.21% from ¥219,140,609.73 in 2023[17]. - The net cash flow from operating activities decreased by 37.43% to ¥283,565,380.14 from ¥453,201,202.62 in 2023[17]. - The total assets at the end of 2024 increased by 5.56% to ¥3,881,910,295.72 compared to ¥3,677,339,069.67 at the end of 2023[17]. - The net assets attributable to shareholders rose by 8.38% to ¥2,759,037,551.67 from ¥2,545,623,816.85 at the end of 2023[17]. - The company reported a basic earnings per share of ¥1.12 for 2024, a 1.82% increase from ¥1.10 in 2023[17]. - The total operating revenue was 1.79 billion yuan, a year-on-year decrease of 1.76%[73]. - The net profit attributable to shareholders of the listed company was 258 million yuan, reflecting a year-on-year increase of 2.04%[73]. Dividend Distribution - The company plans to distribute a cash dividend of 1.2 CNY per 10 shares (including tax) to all shareholders, based on a total share count of 230,014,697 shares after excluding repurchased shares[4]. - The total distributable profit available for shareholders is approximately 1.68 billion CNY, with the parent company's distributable profit at approximately 1.74 billion CNY[184]. - The company plans to distribute a cash dividend of 1.2 CNY per 10 shares, totaling approximately 27.6 million CNY, which represents 100% of the profit distribution amount[182]. Market and Industry Insights - The semiconductor market is projected to grow by 18.1% in 2024, reaching a total revenue of $626 billion (approximately ¥4.57 trillion) driven by AI and new IT infrastructure demands[27]. - The memory product segment, particularly HBM and high-performance DRAM, is expected to see a growth rate of 75.6% in 2024, making it the fastest-growing category in semiconductors[27]. - The automotive semiconductor market remains the third-largest application market, benefiting from the increasing penetration of electric and smart connected vehicles[27]. - The integrated circuit manufacturing capacity is currently experiencing a supply-demand imbalance, with advanced processes and packaging capacity being tight due to high-performance computing demand, while traditional mature processes have sufficient supply[32]. - The global smart camera market is expected to ship 137 million units in 2024, representing a year-on-year growth of 7.7%[43]. - In the automotive sector, China's automobile production and sales are projected to reach 31.28 million and 31.44 million units in 2024, with year-on-year growth of 3.7% and 4.5% respectively[44]. Research and Development - The company is focusing on product innovation, including ultra-high pixel array products and AI-ISP algorithm-based low-light full-color cameras[74]. - The company has invested heavily in image signal processing technology, enhancing codec efficiency and optimizing video image experience, while its self-developed AI processor has achieved mass production[39]. - The company is developing high-performance AI edge computing chips aimed at various applications, including smart cameras and intelligent consumer electronics[94]. - R&D investment reached approximately ¥349.9 million in 2024, representing 19.54% of total revenue, up from 18.37% in 2023[97]. - The company has a strong R&D team with extensive experience in chip design and artificial intelligence, enabling it to meet diverse market demands[72]. - The company is focusing on expanding its product applications and improving chip integration, aiming to enhance product reliability and performance[39]. Risk Management - The company acknowledges various risks in its future operations, including technology innovation risks, market competition risks, and rising R&D labor costs[4]. - The company faces risks related to technological innovation, market competition, high customer concentration, rising labor costs, goodwill impairment, changes in industrial policies, exchange rate fluctuations, and international trade frictions[133][134][135][136][137][138][139][140][141]. - In 2024, the company recorded a goodwill impairment of 21.18 million due to the decline in operating performance of its subsidiary, Mouxin Technology[138]. Governance and Compliance - The company's financial statements are audited by Rongcheng Accounting Firm, ensuring compliance and accuracy[16]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, and financial operations[152]. - The company emphasizes transparency in information disclosure, utilizing multiple platforms to ensure equal access for all investors[149]. - The company has a comprehensive internal control system to manage risks and ensure normal business operations[149]. - The internal control audit report states that the company maintained effective financial reporting internal controls as of December 31, 2024, according to relevant regulations[199]. Employee and Management - The total number of employees at the end of the reporting period is 528, with 316 in the parent company and 212 in major subsidiaries[178]. - The professional composition includes 447 technical personnel, 26 sales personnel, 10 financial personnel, and 45 administrative personnel[178]. - The company has implemented a comprehensive compensation system based on performance assessment, providing competitive salaries and benefits to employees[180]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 6.9137 million yuan[170]. - The company has increased its recruitment of high-end talent, particularly in AI-related research and development, to strengthen its technological capabilities[78]. Strategic Initiatives - The company is actively expanding its product line and investing in R&D to establish differentiated competitive advantages in a challenging market environment[73]. - The company is focusing on external growth through strategic investments in emerging companies with technological advantages to build a collaborative network[131][132]. - The company is implementing a dual-driven strategy to consolidate existing markets and explore new markets by enhancing communication with both new and existing customers[128]. - The company is exploring partnerships with local firms to boost its distribution network, aiming for a 30% increase in reach by mid-2024[1].