Financial Performance - The company's revenue for 2024 reached ¥311,252,739.15, representing a 31.60% increase compared to ¥236,513,112.95 in 2023 [18]. - The net profit attributable to shareholders for 2024 was ¥20,303,672.23, a decrease of 17.41% from ¥24,583,286.84 in 2023 [18]. - The net cash flow from operating activities for 2024 was -¥70,946,839.25, a significant decline of 494.48% compared to ¥17,984,953.39 in 2023 [18]. - Basic earnings per share for 2024 were ¥0.29, down 17.14% from ¥0.35 in 2023 [18]. - The company reported a total of ¥5,676,824.33 in non-recurring gains for 2024, compared to ¥1,188,551.35 in 2023 [25]. - The company experienced a significant decline in net profit after deducting non-recurring items, with a decrease of 37.48% to ¥14,626,847.90 in 2024 from ¥23,394,735.49 in 2023 [18]. - Total assets at the end of 2024 amounted to ¥1,596,518,119.00, a slight increase of 0.34% from ¥1,591,030,583.52 at the end of 2023 [19]. - The net assets attributable to shareholders increased by 1.95% to ¥1,490,480,140.69 in 2024 from ¥1,461,973,044.07 in 2023 [19]. Dividend Distribution - The company plans to distribute a cash dividend of 2.60 CNY per 10 shares (including tax) to all shareholders based on the total share capital after excluding repurchased shares [5]. - The company’s cash dividend total represents 100% of the total profit distribution amount, with no shares issued as dividends [158]. - The company has not proposed any stock dividends or capital reserve transfers during the reporting period [158]. - The company’s cash dividend policy complies with its articles of association and shareholder resolutions [158]. - The company approved a profit distribution plan for 2024, proposing a cash dividend of RMB 2.60 per 10 shares, totaling RMB 17,977,263.46, based on a total share capital of 69,143,321 shares after excluding repurchased shares [160]. Research and Development - R&D investment reached 11,754.72 million yuan, an increase of 34.95% year-on-year, accounting for 37.77% of total revenue [47]. - The company has accumulated 154 patents, including 42 invention patents, forming a comprehensive intellectual property system [48]. - The company has established a "demand-oriented" R&D system, completing technology iterations across five major product lines [48]. - The company is in the verification phase for several major R&D projects, including high-power device testing technology and RF device testing systems, aimed at enhancing product offerings and driving revenue growth [71]. - The company has deepened cooperation with major clients, including international leaders and domestic industry giants, optimizing its customer structure [47]. Market Position and Industry Trends - The global semiconductor industry revenue is projected to reach $626 billion in 2024, representing an 18.1% year-over-year growth, with an expected increase to $705 billion in 2025 [32]. - The power semiconductor market is expected to reach $50.3 billion globally in 2023, with projections of $59.6 billion by 2027, and China's market is expected to reach $20.6 billion in 2024, accounting for approximately 38% of the global market [33]. - The company has established itself as a leading supplier of power semiconductor testing systems in China, covering a wide range of products including power diodes, MOSFETs, IGBTs, and third-generation semiconductors like SiC and GaN [35]. - The semiconductor testing equipment market in China is expected to exceed $2.5 billion in 2024, increasing its global market share to 35% [34]. - The company is recognized as one of the few Chinese semiconductor equipment enterprises to enter the international packaging and testing market supply chain [39]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and potential future risks in its operations [5]. - The company faces risks from macroeconomic changes and industry volatility, which could impact demand for semiconductor testing equipment [108][109]. - The company is addressing the risk of high R&D costs by focusing on domestic market expansion and increasing the localization of power semiconductor devices [110]. - The company recognizes the competitive pressure in the traditional discrete device testing market, which may lead to declining product gross margins [112]. - The company has diversified its supplier base, ensuring that no single overseas supplier accounts for more than 20% of total procurement, thus reducing dependency risks [115]. Corporate Governance - The company has established a sound corporate governance structure, including a board of directors and various specialized committees to ensure effective decision-making and compliance with regulations [125]. - The company maintains independence in assets, personnel, finance, organization, and business from its controlling shareholders and actual controllers [127]. - The company has established a remuneration decision-making process based on industry standards and company performance [144]. - The company has not experienced any violations of laws or regulations during the reporting period, ensuring compliance with corporate governance standards [126]. - The company has a total of 5 independent directors, ensuring a diverse governance structure [138]. Employee Development - The company has established a training mechanism to enhance employee skills and management capabilities, focusing on new employee training and high-skill talent development [156]. - The total number of employees at the end of the reporting period is 712, with 254 in production, 105 in sales, 284 in technology, 10 in finance, and 59 in administration [154]. - The company has a cash dividend policy that aligns employee interests with business development and shareholder benefits, aiming to attract and retain key talent [155]. - The company has enhanced its talent development strategy to support innovation and align employee growth with corporate objectives [105]. Financial Management - The company has optimized its internal control system to enhance governance and operational efficiency through regular risk assessments and audits [50]. - The company has implemented a digital management platform that integrates various systems, significantly improving operational efficiency and reducing order delivery cycles [49]. - The company has established a comprehensive profit distribution system and will strictly implement and continuously optimize it [191]. - The company will implement strict management of the use of raised funds to ensure they are fully utilized for their intended purposes [190]. - The company has committed to compensating investors for any losses incurred due to false statements or omissions in the prospectus [191].
联动科技(301369) - 2024 Q4 - 年度财报