JCET(SH:600584)2025-04-20 13:35Financial Performance - The company achieved operating revenue of RMB 35.96 billion in 2024, representing a year-on-year growth of 21.24%[22]. - Net profit attributable to shareholders reached RMB 1.61 billion, an increase of 9.44% compared to the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1.55 billion, up 17.02% year-on-year[22]. - The company reported a net cash flow from operating activities of RMB 5.83 billion, reflecting a 31.50% increase from the previous year[22]. - Basic earnings per share increased to RMB 0.90, a rise of 9.76% from the previous year[23]. - The total assets of the company reached RMB 54.06 billion, marking a 26.96% increase compared to the previous year[22]. - Operating costs amounted to CNY 31.27 billion, reflecting a year-on-year increase of 22.08%[54]. - The company reported a significant increase in cash received from financing activities, totaling CNY 2.41 billion, up 71.06% from the previous year[54]. - The company reported a net profit attributable to ordinary shareholders of RMB 1,609,575,410.92 for the recent fiscal year[157]. - The cash dividend amount (including tax) is RMB 214,729,748.40, which represents 13.34% of the net profit attributable to ordinary shareholders[157]. Dividend and Capital Management - The company plans to distribute a cash dividend of 1.2 CNY per 10 shares, totaling 214,729,748.40 CNY, based on a total share capital of 1,789,414,570 shares[6]. - The company will not conduct capital reserve transfers to increase share capital or issue bonus shares in 2024[6]. - The company distributed a cash dividend of 1 RMB per 10 shares in 2023, amounting to 178,941,457.00 RMB, completed on June 27, 2024[153]. - The profit distribution plan for 2024 proposes a cash dividend of 1.2 RMB per 10 shares, totaling 214,729,748.40 RMB, with no stock dividends or capital reserve transfers[153]. - Over the last three fiscal years, the cumulative cash dividend amount (including tax) is RMB 750,982,770.60, with an average net profit of RMB 2,103,756,396.13, resulting in a cash dividend ratio of 35.70%[158]. Acquisitions and Market Expansion - The company completed the acquisition of 80% equity in Shengdie Semiconductor, expanding its market share in the storage and computing electronics sector[29]. - The acquisition of 80% equity in Shengdi Semiconductor was completed for a total investment of 65,912.50 million USD, with 26,219 million USD already paid[81]. - The company aims to optimize its global layout, enhancing functions at its Singapore headquarters and focusing on emerging markets and high-potential clients[31]. - The company is focusing on expanding its market presence through strategic acquisitions and partnerships[123]. Research and Development - The company increased R&D investment, focusing on advanced packaging technology and materials, establishing a Frontier Technology Research Institute to strengthen innovation capabilities[30]. - The company plans to enhance R&D investment in advanced packaging technologies, aiming for breakthroughs in high-end 3D packaging and automotive electronics[69]. - The number of R&D personnel is 3,550, accounting for 14.76% of the total workforce[67]. - Research and development expenses increased to CNY 1.72 billion, a rise of 19.33% year-on-year[54]. - The company is committed to developing new products and technologies to enhance its competitive edge[123]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Deloitte Huayong[5]. - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors[7]. - The company’s financial report is guaranteed to be true, accurate, and complete by its management[5]. - The company has implemented a robust internal information disclosure mechanism, optimizing internal reporting processes to ensure timely and accurate information sharing[118]. - The company received the "2024 Shanghai Securities Journal Gold Quality Award" for "Corporate Governance" and was recognized for its best practices in board governance[119]. Environmental Responsibility - The company invested approximately 16,503.94 million CNY in environmental protection during the reporting period[165]. - The company’s wastewater treatment facilities meet the semiconductor industry pollutant discharge standards, with all measured pollutants within acceptable limits[168]. - The company has implemented carbon reduction measures, resulting in a reduction of 16,224.328 tons of CO2 equivalent emissions[184]. - The company has established a structured approach to environmental management, focusing on compliance with environmental regulations and standards[165]. - The company is actively involved in rural ecological revitalization projects, with a total investment of 400,000 yuan[185]. Market Outlook - The global semiconductor market is projected to reach $627 billion in 2024, representing a 19% year-over-year growth, driven by demand in AI, storage, and high-performance computing[33]. - The semiconductor market in China is expected to grow by 18.3% in 2024, contributing significantly to the global market recovery[100]. - The advanced packaging market is expected to grow to $51.9 billion in 2024 (up 10.9% year-over-year) and $56.9 billion in 2025 (up 9.6% year-over-year), driven by demand in AI and HPC sectors[98]. Risk Management - The company has detailed risk factors in the report, advising investors to review the section on potential risks[8]. - The company faces market risks due to the cyclical nature of the semiconductor industry and potential changes in government policies affecting the integrated circuit sector[107]. - The company will continue to monitor market trends and adjust its operational goals to mitigate risks associated with geopolitical uncertainties and trade frictions[108]. Employee Engagement and Development - The company launched the J.E.T Program for core talent development across multiple regions, enhancing employee engagement and corporate culture[31]. - The company has established a training program aimed at enhancing employee skills and competencies across various roles[152]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to RMB 27.52 million[137]. Strategic Management Changes - The company is set to elect new board members and supervisors in the upcoming meetings[126]. - The company is preparing for upcoming changes in its board structure with several members set to leave by November 2024[129]. - The company completed the restructuring of the board of directors and the supervisory board, along with the selection of some senior executives due to the change in controlling shareholder and actual controller[138].