Halo Micro(SH:688173)2025-04-22 13:20Financial Performance - The company reported a net profit attributable to the parent company of negative value for the fiscal year 2024, leading to a decision not to distribute cash dividends or issue bonus shares[7]. - Halo Microelectronics reported a revenue of CNY 1.2 billion for the last fiscal year, representing a year-over-year growth of 15%[19]. - The company achieved total operating revenue of RMB 545.51 million in 2024, an increase of 38.58% compared to the previous year[26]. - The net loss attributable to shareholders of the listed company increased by RMB 236.41 million compared to the previous year, primarily due to the absence of non-recurring gains from previous transactions[29]. - The company reported a revenue of approximately 1,067.36 million RMB for the current period, with a net profit of around 252.61 million RMB, showing a significant increase from the previous period's revenue of 1,044.09 million RMB[78]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 25%[153]. Research and Development - The company is investing CNY 200 million in R&D for new technologies, including advanced power management ICs and fast charging solutions[19]. - The proportion of R&D investment to operating revenue was 46.31%, a decrease of 14.01 percentage points compared to the previous year[28]. - The company invested a total of $127.41 million in high-performance DC/DC converter development, with $42.03 million allocated in the current period, achieving a completion status of the project[75]. - Research and development expenses for the current year amounted to approximately ¥252.61 million, representing a 6.39% increase from the previous year[72]. - The company is focusing on the development of high-performance analog-digital mixed chips, with ongoing R&D efforts to enhance touch control technology for mobile devices[78]. - The company is committed to continuous R&D investment, focusing on low-power product development and enhancing product performance to meet market demands[78]. Market Expansion and Strategy - Halo Microelectronics plans to enter the European market by Q3 2024, targeting a market share of 10% within the first year[19]. - The company is actively seeking quality acquisition targets to quickly expand its product categories and market directions[144]. - The company is exploring potential acquisitions to enhance its technology portfolio, with a budget of $500 million allocated for this purpose[151]. - The company aims to expand its market share by strengthening its global marketing and technical support network, integrating various market resources[144]. - The company is expanding its business through acquisitions, which may introduce management challenges as the organization grows[97]. Corporate Governance - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[3]. - The company has established a governance structure comprising the shareholders' meeting, board of directors, independent directors, supervisory board, and senior management, ensuring effective checks and balances[146]. - The company has established various internal control systems that cover all aspects of business activities and internal management, ensuring effective execution[146]. - The company has not faced any major issues regarding independence from its controlling shareholders or related parties[146]. - The company has implemented multiple stock incentive plans, with a total of 35,562,812 stock options granted in 2021, representing 9.88% of the total shares[183]. Risk Management - The company has detailed potential risks in the management discussion and analysis section of the report[4]. - The semiconductor industry is experiencing cyclical fluctuations, with the company facing risks related to market demand and competition[88]. - High customer concentration poses risks; if major clients face financial difficulties or change procurement strategies, it could impact the company's revenue stability[96]. - The company is at risk of inventory impairment if it fails to accurately predict market demand or if competitive pressures lead to significant price declines[98]. - Global trade tensions and tariffs could adversely affect the company's international operations and client relationships, impacting growth prospects[101]. Sustainability and ESG - Halo Microelectronics is focusing on sustainability, with plans to reduce carbon emissions by 25% by 2025 through energy-efficient manufacturing processes[19]. - The company's ESG strategy focuses on green design, energy conservation, social responsibility, and transparent governance to enhance sustainable development and market competitiveness[198]. - The company achieved a Wind ESG comprehensive score of BB for the current year, aligning with international mainstream frameworks[199]. Acquisitions and Partnerships - The company completed the acquisition of Zinitix in Q3 2024, contributing to revenue growth[26]. - The company plans to acquire 100% of Shenzhen Chengxin Micro Technology Co., Ltd., which has passed board and shareholder approvals, and is currently awaiting regulatory approval[43]. - The company has successfully entered the supply chains of major brands such as Samsung, vivo, and Xiaomi, becoming a key supplier in the mobile power management chip sector[142]. - The acquisition of Zinitix has integrated capacitive multi-touch technology into the company's portfolio, enhancing its product application scenarios[68]. Employee and Management Compensation - The total pre-tax remuneration for the chairman and core technical personnel, Tao Hai, was 229.33 million yuan for the reporting period[149]. - The total pre-tax remuneration for the vice president and financial officer, Tang Ya, was 127.38 million yuan, with no change in shareholding[149]. - The company has established a scientific and reasonable compensation incentive mechanism, including performance bonuses and special bonuses[175]. - The company has a total of 345 employees, with 102 in the parent company and 243 in major subsidiaries[174].