KFMI(SZ:300666)2025-04-15 12:35Financial Performance - The company's revenue for 2024 reached ¥3,604,962,847.84, representing a 38.57% increase compared to ¥2,601,608,568.67 in 2023[20]. - Net profit attributable to shareholders for 2024 was ¥400,564,027.03, a 56.79% increase from ¥255,474,568.79 in 2023[20]. - The net profit after deducting non-recurring gains and losses was ¥303,505,740.66, up 94.92% from ¥155,706,191.91 in 2023[20]. - The total assets of the company increased by 38.55% to ¥8,689,443,785.51 at the end of 2024, compared to ¥6,271,647,079.35 at the end of 2023[20]. - The basic earnings per share for 2024 was ¥1.51, a 57.29% increase from ¥0.96 in 2023[20]. - The company achieved a revenue of 3.605 billion yuan, representing a year-on-year growth of 38.57%[54]. - The net profit attributable to shareholders reached 401 million yuan, with a year-on-year increase of 56.79%[54]. - The sales revenue from ultra-pure metal sputtering targets was 2.333 billion yuan, growing by 39.51% year-on-year, further expanding the company's market share in the global wafer manufacturing sector[54]. - The semiconductor precision components business generated sales revenue of 887 million yuan, marking a significant year-on-year growth of 55.53%[57]. Cash Flow and Investments - The company reported a negative net cash flow from operating activities of ¥96,329,842.68 in 2024, a decline of 138.37% compared to a positive cash flow of ¥251,025,634.23 in 2023[20]. - Operating cash inflow totaled ¥3,308,985,128.79 in 2024, a 31.94% increase compared to ¥2,507,962,685.82 in 2023[94]. - Operating cash outflow rose by 50.88% to ¥3,405,314,971.47 in 2024 from ¥2,256,937,051.59 in 2023[94]. - Investment cash inflow increased by 128.01% to ¥131,315,379.79 in 2024, compared to ¥57,592,100.00 in 2023[94]. - Financing cash inflow rose by 48.96% to ¥2,190,586,637.62 in 2024, up from ¥1,470,597,926.59 in 2023[94]. - The company reported a net increase in cash and cash equivalents of ¥166,535,668.51 in 2024, a 146.81% increase from -¥355,775,567.30 in 2023[95]. Research and Development - R&D expenses amounted to 217 million yuan, reflecting a year-on-year increase of 26.50%[58]. - The company has obtained a total of 894 valid domestic patents, including 531 invention patents, enhancing its technological capabilities[58]. - The company has established multiple high-level innovation platforms, including a national-level enterprise technology center and a provincial-level high-tech enterprise R&D center, enhancing its R&D capabilities[65]. - The company’s R&D expenses for 2024 amounted to 217 million yuan, an increase of 26.50% compared to the previous year[145]. - R&D investment accounts for over 5% of the company's operating revenue, indicating a leading position in the industry[65]. Market Position and Strategy - Jiangfeng Electronics has established itself as a core supplier for major chip manufacturers like TSMC and SMIC, participating actively in global market competition[30]. - The company aims to become a world-class semiconductor enterprise, contributing to the strategic needs of the national semiconductor industry[30]. - The company is focusing on enhancing its core business and aims to become a world-class semiconductor materials enterprise[145]. - The company plans to continue expanding its market presence and investing in new product development[29]. - The company is committed to deepening its strategic layout in related industries and continuously enriching its product portfolio in the integrated circuit sector[126]. Corporate Governance - The company has established an audit committee under the board of directors to oversee internal and external audits[152]. - The company respects and maintains the legitimate rights and interests of stakeholders, balancing the interests of shareholders, employees, and society[152]. - The company has a complete internal control system in place, ensuring the authenticity and completeness of financial information[152]. - The company has implemented a structured approach to determine the remuneration of its directors and senior management based on their roles and responsibilities[171]. - The company has established specialized committees to enhance governance and operational efficiency, although specific details were not provided in the report[179]. Shareholder Engagement - The company plans to distribute a cash dividend of 3.06 RMB per 10 shares to all shareholders, based on a total share capital of 264,318,383 shares after deducting repurchased shares[4]. - The company has implemented a shareholder dividend plan, with cash dividends exceeding 20% of net profit attributable to shareholders for the past three years[146]. - The company is actively communicating with investors through various channels to enhance transparency and convey long-term investment value[147]. - The company has developed a value enhancement plan to strengthen its market management and protect investor rights[144]. Risks and Challenges - The company faces risks in new product development due to the high costs and long cycles associated with R&D, but it has accumulated significant experience and technology reserves to mitigate these risks[134][135]. - The company is at risk of declining profitability due to increased capital expenditures and R&D investments, but it aims to minimize this risk through effective market development and cost control[138]. - The company faces exchange rate risks due to a high proportion of foreign sales, primarily settled in USD and JPY, and it will implement measures to mitigate these risks[141].