Shijia Photons(SH:688313)2025-04-18 14:15Financial Performance - The company's revenue for 2024 reached CNY 1,074,527,562.56, representing a 42.40% increase compared to CNY 754,594,813.06 in 2023[24]. - The net profit attributable to shareholders for 2024 was CNY 64,933,344.62, a significant recovery from a loss of CNY 47,546,732.37 in 2023, marking a 236.57% increase[24]. - The net profit after deducting non-recurring gains and losses was CNY 48,140,294.19, up 172.05% from a loss of CNY 66,815,576.23 in the previous year[24]. - The basic earnings per share for 2024 was CNY 0.1436, a substantial increase of 237.02% from a loss of CNY 0.1048 in 2023[25]. - The company's revenue from the optical communication industry reached ¥1,056,457,602.53, with a gross margin of 26.36%, an increase of 7.63 percentage points compared to the previous year[109]. - Revenue from optical chips and devices was ¥606,346,946.80, with a gross margin of 33.39%, reflecting a 12.02 percentage point increase year-on-year[109]. Cash Dividend and Share Capital - The company plans to distribute a cash dividend of RMB 0.60 per 10 shares (including tax), with a total expected cash dividend of RMB 27,119,179.68, representing 41.76% of the net profit attributable to shareholders[7]. - The total number of shares outstanding as of December 31, 2024, is 458,802,328, after deducting 6,816,000 shares held in the repurchase account[182]. - The cumulative cash dividend over the last three accounting years amounts to RMB 49.81 million, with an average annual net profit of RMB 27.22 million, resulting in a cash dividend ratio of 182.97%[188]. - The company has established a cash dividend policy that prioritizes cash dividends when conditions are met, with a minimum cash dividend ratio of 10% of the distributable profit[180]. Research and Development - Research and development expenses accounted for 9.63% of operating revenue, down from 12.73% in the previous year, indicating a reduction of 3.10 percentage points[25]. - The total R&D investment for the current year is approximately ¥103.43 million, reflecting a 7.71% increase from the previous year's ¥96.03 million[80]. - The company has accumulated a total of 262 intellectual property rights, including 54 invention patents and 165 utility model patents[76]. - The company has developed multiple competitive optical chip products, accumulating a rich patent reserve and industrialization capability[88]. Operational Risks and Management - The company has outlined various operational risks and corresponding countermeasures in the report[4]. - The company has strengthened its operational management capabilities, enhancing cost reduction and efficiency improvement efforts, which contributed to increased profitability[26]. - The company has implemented a strict quality control system and achieved multiple management system certifications to mitigate product quality risks[98]. - The company has established a rigorous supply chain management system to ensure procurement safety and cost advantages[51]. Market Trends and Growth - The demand for AI computing power has driven rapid growth in the data communication market, leading to increased customer recognition and product competitiveness[25]. - The global telecom operators are expected to invest a total of $900 billion in network construction from 2021 to 2025, driven by the demand for 400G to 800G upgrades[56]. - The data center capital expenditure from major companies like Meta, Google, Amazon, and Microsoft is projected to reach $297.2 billion in 2025, reflecting a year-on-year growth of 36.8%[57]. - The optical communication chip market is expected to grow at a compound annual growth rate (CAGR) of 17% from 2025 to 2030, with total sales projected to increase from approximately $3.5 billion in 2024 to over $11 billion by 2030[71]. Corporate Governance - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[3]. - There are no special arrangements for corporate governance or other significant matters applicable[10]. - The company has established a compensation and assessment committee to evaluate senior management performance and improve long-term incentive mechanisms[190]. - The company has maintained high standards of corporate governance with the appointment of independent directors[150]. Environmental and Social Responsibility - The company invested 1.626 million yuan in environmental protection during the reporting period[194]. - The company has established an environmental management system and has implemented various environmental protection policies[199]. - The company actively participates in social responsibility initiatives, including donations to local community projects[193]. - The company has achieved ISO14001 and ISO45001 management system certifications[193]. Employee and Management Changes - The total number of employees in the parent company is 1,194, while the total number of employees in major subsidiaries is 1,139, resulting in a combined total of 2,333 employees[174]. - The company has a total of 12 employees with doctoral degrees, 34 with master's degrees, and 243 with bachelor's degrees, indicating a diverse educational background among its workforce[174]. - A total of 15 personnel changes occurred, including the election of new directors and supervisors due to board reorganization[159]. - The company has appointed new senior management personnel and a securities affairs representative[163].