FINE MADE(SZ:300671)2025-04-18 15:20Financial Performance - The company's operating revenue decreased by 2.85% year-on-year, while the net profit attributable to shareholders improved by 30.58%, amounting to a loss of 241.51 million yuan[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of 260.15 million yuan, a reduction in loss of 26.81% year-on-year[5]. - The company's operating revenue for 2024 was ¥681,675,496.81, a decrease of 2.85% compared to ¥701,684,939.75 in 2023[25]. - The net profit attributable to shareholders for 2024 was -¥241,509,185.41, showing an improvement of 30.58% from -¥347,914,961.77 in 2023[25]. - The basic earnings per share for 2024 was -¥1.11, which is a 30.63% improvement from -¥1.60 in 2023[25]. - The total assets at the end of 2024 were ¥2,637,844,177.86, a decrease of 9.47% from ¥2,913,711,600.25 at the end of 2023[25]. - The net assets attributable to shareholders at the end of 2024 were ¥1,635,527,366.23, down 10.57% from ¥1,828,858,879.46 at the end of 2023[25]. - The cash flow from operating activities for 2024 was -¥49,198,383.49, a slight decrease of 4.70% compared to -¥46,990,030.41 in 2023[25]. - The company reported a quarterly revenue of ¥192,971,400.10 in Q3 2024, with a net profit of -¥16,987,437.94 for the same quarter[27]. - The weighted average return on net assets for 2024 was -13.94%, an improvement from -17.49% in 2023[25]. Industry Trends - The semiconductor industry is undergoing significant structural changes, with domestic chip import substitution accelerating under national policy guidance[7]. - The demand for products related to automotive, new energy, and artificial intelligence remains strong, contrasting with the slow recovery of consumer electronics[7]. - The global semiconductor industry continues to face challenges, including geopolitical uncertainties and regionalization of supply chains[7]. - The semiconductor industry is undergoing significant changes due to geopolitical factors, with a shift towards local manufacturing and increased domestic chip production in China[36]. Company Strategy and Governance - The company has established a comprehensive governance system and a robust risk management mechanism to enhance its market competitiveness and risk resilience[9]. - The company has accumulated hundreds of core patents and software copyrights in the semiconductor field, showcasing its strong technological capabilities[9]. - The company plans not to distribute cash dividends or issue bonus shares, focusing on reinvestment for growth[10]. - The company aims to enhance its market position by increasing R&D investment in power devices and power management products, while optimizing production processes to improve efficiency[42]. - The company has established a comprehensive governance system to manage risks effectively, ensuring sustainable development and enhanced market competitiveness[40]. - The company operates a Fabless model, outsourcing manufacturing to foundries while focusing on design, packaging, and testing[41]. - The company has implemented a stock incentive plan to optimize its compensation management system, aiming to drive future performance growth[42]. Research and Development - The company is focused on high-performance analog and mixed-signal integrated circuit design, with core products including LED display control chips and power devices, targeting both traditional and emerging markets[37]. - The company has developed a diverse product matrix, including new IPM products, to meet the evolving demands of various industries such as IoT and AI[37]. - The company completed the development of several new products, including a 200V high-voltage half-bridge driver and a 60V synchronous rectifier, enhancing its market competitiveness[62]. - The company is developing a lithium battery power management IC with a 2.4A synchronous boost output, aimed at enhancing its product offerings in the power management sector[61]. - The number of R&D personnel decreased from 508 in 2023 to 201 in 2024, a reduction of 60.43%[63]. - R&D expenditure amounted to ¥149,810,587.40 in 2024, representing 21.98% of operating revenue, down from 25.94% in 2023[63]. Financial Management and Investment - The company has established a comprehensive financial management system to minimize management risks[97]. - The company plans to use part of the remaining raised funds to permanently replenish working capital, indicating a focus on liquidity[138]. - The company has committed to enhancing fundraising management and accelerating investment project progress to mitigate the impact of potential dilution on immediate returns[156]. - The company aims to enhance profitability by optimizing cost structure and accelerating new product development[92]. - The company plans to strengthen fundraising management and ensure the effective use of raised funds to enhance efficiency and control risks[157]. Shareholder Engagement and Governance - The company held its annual general meeting with a participation rate of 35.93% on May 15, 2024[113]. - The company also conducted a temporary shareholders' meeting with a participation rate of 32.79% on December 23, 2024[113]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[104]. - The company emphasizes the importance of information disclosure, ensuring transparency and fairness in communication with shareholders[108]. - The company has a clear succession plan in place, with new appointments scheduled for May 2024 to ensure continuity in leadership[117]. Compliance and Risk Management - The company has committed to improving compliance awareness and capabilities among its directors and senior management following the penalty incident[174]. - The internal control evaluation report indicates that there are no significant deficiencies in financial reporting controls as of the evaluation date[146]. - The company has no major defects in its internal control system, reflecting a robust governance structure[152]. - The company has established a risk management framework to strengthen internal governance and ensure effective risk control measures[146]. Market Position and Future Outlook - The company is actively working on improving its profitability and sustainable development through various measures[156]. - The company plans to adjust the investment project schedule for 2024, ensuring efficient use of raised funds[137]. - The company is exploring acquisition opportunities to enhance its product portfolio, targeting a deal worth approximately $100 million[126]. - The company is focused on ensuring the successful completion of its projects while adapting to changing market dynamics[85].