精测电子(300567) - 2024 Q4 - 年度财报

Financial Performance - The net profit attributable to shareholders for the reporting period was -97.5985 million RMB, a decrease of 165.02% compared to the same period in 2023[3]. - The company's operating revenue for 2024 reached ¥2,565,073,020.98, representing a 5.59% increase compared to ¥2,429,367,608.64 in 2023[24]. - The net profit attributable to shareholders was -¥97,598,457.82, a significant decrease of 165.02% from ¥150,102,379.43 in the previous year[24]. - The net cash flow from operating activities improved to ¥197,403,723.75, a 721.75% increase from -¥31,749,789.44 in 2023[24]. - The total assets at the end of 2024 were ¥10,076,306,760.49, marking a 9.27% increase from ¥9,221,334,854.61 in 2023[24]. - The net assets attributable to shareholders decreased by 6.52% to ¥3,463,816,767.37 from ¥3,705,568,724.68 in 2023[24]. - The company reported a basic earnings per share of -¥0.35, down 164.81% from ¥0.54 in the previous year[24]. - The diluted earnings per share also fell to -¥0.24, a decrease of 143.64% from ¥0.55 in 2023[24]. - The weighted average return on equity was -2.71%, down from 4.27% in the previous year, reflecting a decline of 6.98%[24]. - The company experienced a significant drop in net profit after deducting non-recurring gains and losses, which was -¥158,561,190.92 compared to ¥32,878,987.85 in 2023, a decrease of 582.26%[24]. Research and Development - The company's R&D investment reached 730.6177 million RMB, accounting for 28.48% of total operating revenue[3]. - The company plans to invest 730.62 million in R&D for 2024, a 10.78% increase year-on-year, with 357.98 million specifically for semiconductor testing, up 32.76%[80]. - The number of R&D personnel increased to 1,776, representing a growth of 13.99% year-over-year[119]. - R&D investment reached ¥730,617,653.73 in 2024, accounting for 28.48% of operating revenue, up from 27.15% in 2023[119]. - The company has established a joint research center with Huazhong University of Science and Technology and Fudan University, enhancing its innovation capabilities[195]. - The company emphasizes independent innovation and has developed a comprehensive R&D system to maintain its competitive advantage in the market[186]. - The company has developed core technologies in semiconductor detection, including thin film ellipsometry and high-resolution electron beam detection, with products such as film thickness measurement equipment and optical critical dimension measurement systems[188]. Market and Industry Trends - Revenue from the semiconductor sector nearly doubled during the reporting period, indicating significant growth despite high investment costs[3]. - The domestic display panel market is projected to grow from 91.1 million square meters in 2020 to approximately 121.2 million square meters by 2025, with a compound annual growth rate (CAGR) of 5.88%[34]. - The global TFT-LCD and AMOLED panel capacity is expected to reach 409 million square meters in 2024, reflecting a year-on-year growth of 2.5%[36]. - The market for Mini/Micro-LED is anticipated to reach $5.9 billion by 2025, with a CAGR of 86.60% from 2019 to 2025[39]. - The shipment volume of large-size OLED panels is expected to increase from 26.1 million units in 2022 to 69.5 million units by 2027, with an average annual growth rate of 11.2%[38]. - The semiconductor equipment market in China has grown from 96.8 billion yuan in 2019 to 219 billion yuan in 2023, driven by the rapid development of AI, IoT, and other emerging technologies[43]. - The global semiconductor equipment spending is projected to reach a record 112.8 billion USD in 2024, with China continuing to be the largest market for five consecutive years[45]. Business Strategy and Operations - The overall business operations remained stable despite the reported losses, with no significant adverse changes in core competitiveness or major financial indicators[5]. - The company is in a high investment phase for new business areas, particularly in semiconductors, which are capital and technology-intensive[3]. - The company is focusing on developing high-performance testing systems to meet the increasing demands of new display technologies, including higher resolutions and refresh rates[41]. - The company is committed to continuous innovation in its product lines to maintain competitiveness in the rapidly evolving technology landscape[58]. - The company has established a safety stock management system to ensure timely delivery of raw materials, which is crucial for normal production[62]. - The company adopts a "sales-driven production" model, coordinating between market, R&D, and production departments to meet customer-specific needs[63]. - The company is focusing on optimizing its business structure to address ongoing losses in the new energy sector[82]. Customer and Market Relationships - The company has established strong partnerships with major clients in the semiconductor field, including SMIC and Hua Hong Group[75]. - The company has a dedicated service team for semiconductor clients, ensuring rapid response and support[73]. - The company is actively expanding its customer base beyond major panel manufacturers to reduce customer concentration risks[181]. - The company has established a strong customer base in the flat panel display testing sector, including major manufacturers like BOE and AUO[173]. Financial Management and Investments - The company raised a total of RMB 1,493,999,982.61 through the issuance of 31,446,011 A-shares at a price of RMB 47.51 per share[143]. - The actual net amount raised from the A-share issuance, after deducting underwriting fees and other expenses, was RMB 1,482,735,831.67[143]. - The company issued 12.76 million convertible bonds at a face value of RMB 100 each, raising a total of RMB 1,276,000,000.00[144]. - The company plans to utilize the raised funds for specific purposes as outlined in their fundraising plan[140]. - The company has not reported any significant changes in the measurement attributes of its major assets during the reporting period[129]. - The company has established a market value management system to enhance investment value and protect investor rights, disclosed on February 22, 2025[193]. Challenges and Risks - The company is facing macroeconomic uncertainties, including global economic fluctuations and trade tensions, which may negatively impact its performance[180]. - The semiconductor equipment sector poses high R&D risks, with over 80% of revenue coming from the integrated circuit industry, necessitating significant investment in new technologies[185]. - The company acknowledges the risk of new products failing to pass customer validation, which could adversely affect its profitability and market share in the semiconductor and new energy sectors[189]. - The company faces risks related to the inability of fundraising projects to meet expected benefits due to adverse changes in industry policies and market conditions[190]. Corporate Governance and Transparency - The company achieved an A-level rating in the information disclosure evaluation for the 2023-2024 period, reflecting its commitment to transparency and investor relations[100]. - The company is actively engaging with investors and stakeholders to communicate its performance and strategic direction through various channels[191]. - The company has established a comprehensive corporate governance structure to support its rapid expansion and management of subsidiaries[187].