NSIG(SH:688126)2025-04-23 10:20Financial Performance - The company reported a net profit attributable to shareholders of -970,537,082.04 RMB for the year 2024, indicating a significant loss [7]. - As of December 31, 2024, the company's distributable profits amounted to 66,202,948.92 RMB, with no cash dividends or capital reserve transfers planned for the year [7]. - The company's operating revenue for 2024 reached ¥338,761.17 million, a 6.18% increase compared to ¥319,030.13 million in 2023 [23]. - The net profit attributable to shareholders was -¥97,053.71 million, a significant decline of 620.28% from ¥18,654.28 million in the previous year [23]. - The basic earnings per share for 2024 was -¥0.353, down 619.12% from ¥0.068 in 2023 [24]. - The net cash flow from operating activities was -¥78,771.79 million, compared to -¥27,472.74 million in 2023, indicating worsening cash flow conditions [23]. - The company reported a total revenue of 92,629.49 million RMB, with a gross profit of 43,898.38 million RMB, indicating a strong performance in the semiconductor market [63]. Operational Risks and Governance - The company has outlined various operational risks and corresponding mitigation strategies in the report, emphasizing the importance of risk management [4]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties during the reporting period [9]. - The board of directors has confirmed that all members attended the board meeting, ensuring governance compliance [5]. - The company has not implemented any special arrangements for corporate governance during the reporting period [10]. - The company has not reported any violations of decision-making procedures regarding external guarantees during the reporting period [9]. - The company has established a governance structure with a board of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements [131]. Research and Development - The company maintained a high level of R&D investment, with R&D expenses accounting for 7.88% of operating revenue, an increase from 6.96% in 2023 [24]. - R&D expenses for the reporting period amounted to 266.82 million yuan, representing 7.88% of total revenue, up from 6.96% in the same period last year [45]. - The company applied for 130 invention patents and obtained 24 during the reporting period, bringing the total to 630 invention patents [59]. - The company has established a standardized management system for R&D projects, improving efficiency in new product development [193]. - The company is committed to continuous technological innovation to enhance core technology and product performance, aligning with national and global semiconductor industry trends [126]. Market Expansion and Product Development - The company is focused on expanding its market presence and enhancing its product offerings in the semiconductor industry [16]. - The company is actively developing high-end silicon-based materials, with a production capacity of 80,000 pieces per year, aiming to increase this to 160,000 pieces per year by 2025 [43]. - The company is focusing on new product development for automotive-grade chips, which are increasingly in demand due to the growth of the electric vehicle market [55]. - The company aims to enhance its production capacity for 300mm and 200mm semiconductor wafers, filling the domestic technological gap in high-end 300mm silicon-based materials [53]. - The company is committed to establishing a supply capability for SOI materials to meet market demand, with applications in RF front-end chips and power devices [127]. Financial Investments and Assets - The company has foreign assets valued at approximately RMB 5.30 billion, accounting for 18.12% of total assets, exposing it to exchange rate fluctuation risks [75]. - The company reported a fair value loss of 151,408.55 million RMB on its stock investments during the period [114]. - The company has a significant investment in the Qingdao Juyuan Chip Star Equity Investment Partnership, with a total investment of 20,000.00 million RMB [116]. - The company reported an asset impairment loss of approximately 300 million RMB due to goodwill impairment related to the acquisition of Okmetic and Xin'ao Technology [103]. Environmental and Social Responsibility - The company has invested CNY 40.48 million in environmental protection initiatives during the reporting period [174]. - The company achieved compliance in wastewater and air emissions, with all pollutants effectively treated [178]. - During the reporting period, the company reduced greenhouse gas emissions by over 8,600 tons CO2e through increased use of clean energy [184]. - The company has established a comprehensive internal control system for waste management, ensuring compliance with environmental regulations [178]. - The company has been included in multiple ESG thematic index funds, including the CSI 800 ESG Benchmark Index [174]. Executive Compensation and Governance - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 26.8833 million RMB [145]. - The total remuneration for core technical personnel at the end of the reporting period was 5.1551 million RMB [145]. - The company has established a compensation and assessment committee to review and approve remuneration policies [145]. - The company is committed to increasing shareholder value through strategic share purchases by executives [136]. Strategic Initiatives and Future Outlook - The company plans to invest in the capacity upgrade project for 300mm silicon wafers, as approved in the board meeting on June 11, 2024 [148]. - The company will conduct a special action plan for "quality improvement and efficiency enhancement" in 2024 [148]. - The company is set to hold its annual shareholders' meeting for 2023 [148]. - The company is focused on enhancing its governance structure through independent directors and specialized committees [145].