TXD(SZ:002845)2025-04-24 13:45Financial Performance - The company's operating revenue for 2024 reached ¥9,558,790,934.48, representing a 12.27% increase compared to ¥8,514,028,612.44 in 2023[20]. - The net profit attributable to shareholders decreased by 32.26% to ¥32,514,586.37 from ¥48,001,583.95 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥16,234,781.65, down 24.08% from ¥21,383,339.00 in 2023[20]. - The basic earnings per share fell by 33.33% to ¥0.1 from ¥0.15 in 2023[20]. - Total assets increased by 13.09% to ¥9,420,463,960.13 at the end of 2024, compared to ¥8,330,361,892.95 at the end of 2023[20]. - The net assets attributable to shareholders rose by 1.41% to ¥2,741,352,112.43 from ¥2,703,180,489.98 in the previous year[20]. - The cash flow from operating activities decreased by 14.46% to ¥305,764,510.37 from ¥357,463,683.86 in 2023[20]. - The company reported a total of CNY 16.28 million in non-recurring gains in 2024, down from CNY 176.95 million in 2022[26]. - The company’s financial expenses increased by 19.71 million yuan due to exchange rate impacts[50]. - The company’s cash flow from operating activities was 305.76 million yuan, a decline of 14.46% compared to the previous year[60]. Market Trends and Projections - The global smartphone shipment is projected to reach 1.22 billion units in 2024, representing a year-on-year growth of 7%[30]. - The domestic DDIC packaging and testing market is expected to grow to approximately CNY 7.3 billion in 2024, with a year-on-year increase of about 9%[33]. - The global display driver IC packaging and testing market is projected to reach USD 2.98 billion in 2024, with a growth rate of 6%-7%[33]. - The company is positioned to benefit from the upcoming "replacement wave" driven by AI technology advancements in the consumer electronics sector[30]. - The trend in the smartphone industry is moving towards higher pixel cameras, with a notable rise in the automotive camera market[104]. - The market for full-screen smartphones is expanding, with major manufacturers adopting this technology across their product lines[102]. Operational Developments - The company has established stable long-term partnerships with major global smartphone manufacturers, enhancing its market competitiveness[31]. - The company has established over 40 integrated production lines for smartphone, wearable, and tablet/laptop display modules, becoming an industry benchmark smart factory[40]. - The company has formed deep collaborations with major international manufacturers such as Sony and Bosch in the automotive camera module business, entering mass production in 2024[40]. - The company has completed mass production of blind hole and double blind hole OLED technologies, with further advancements in flexible OLED and MiniLED technologies ongoing[55]. - The company has established a factory in India to enhance service capabilities and market share in the region, contributing to its global strategic layout[57]. Research and Development - The company is focusing on the development of advanced semiconductor packaging and testing, with a monthly production capacity of over 10,000 units expected by 2025[36]. - The company is developing a 6.72-inch FHD hole-punch display module, aiming for mass production readiness[71]. - The company is also working on a dual-sided LCD display module to enhance product competitiveness and market share[71]. - The company has developed a new type of LCD display module that optimizes heat dissipation performance and display angle adjustments, aiming to enhance product competitiveness and increase market share[73]. - The company is enhancing its technology capabilities by developing ultra-small automatic camera modules to meet customer miniaturization requirements[81]. Risk Management - The company has highlighted potential risks in its future development outlook, which investors should pay attention to[4]. - The company faces market risks due to increasing competition in the display module manufacturing industry, which could impact future revenue and profitability[111]. - The company is at risk of performance decline if it fails to adapt to changes in downstream customer demands as the smartphone industry matures[112]. - The company has implemented measures to mitigate risks from raw material price fluctuations by analyzing market trends and adjusting inventory levels accordingly[117]. - The company maintains a relatively high inventory level, which poses a risk to liquidity if customer demand changes unexpectedly[115]. Corporate Governance - The company has established a comprehensive governance structure, including specialized committees to provide professional opinions for board decisions[123]. - The company has a transparent information disclosure process, ensuring timely and fair access to information for all shareholders[124]. - The company has established an independent financial accounting department, ensuring independent financial decision-making and tax compliance[127]. - The company has implemented a complete business and operational independence from its actual controller, ensuring no reliance on shareholders for production and operations[126]. - The company has maintained a stable management team with no changes in directors or supervisors during the reporting period[131]. Employee Management - The total number of employees at the end of the reporting period is 12,006, with 386 in the parent company and 11,620 in major subsidiaries[148]. - The professional composition includes 9,334 production personnel, 249 sales personnel, 1,176 technical personnel, 70 financial personnel, and 1,177 administrative personnel[148]. - The company has established a competitive salary management system, emphasizing fairness, transparency, and effectiveness in employee compensation[149]. - The company implements targeted training programs for management and basic employees to enhance their management and operational skills[150]. - An online learning system has been introduced to facilitate continuous employee training, allowing for flexible learning opportunities[150]. Environmental and Social Responsibility - The company achieved a 100% certification coverage for ISO14001 Environmental Management System, ISO 14064 Greenhouse Gas Management System, and IECQ QC080000 Hazardous Substances Process Management System across all production bases[165]. - The company strictly adheres to environmental laws and regulations, with no significant environmental or social safety issues reported during the reporting period[164]. - The company emphasizes shareholder rights protection by maintaining a robust corporate governance structure and ensuring timely and accurate information disclosure[168]. Dividend Policy - The company implemented a cash dividend policy, distributing a cash dividend of 0.8 CNY per 10 shares, totaling 26,204,136.4 CNY (including tax) for the fiscal year 2023[151]. - The cash dividend amount represents 100% of the total distributable profit of 386,321,772.12 CNY[153]. - The cash dividend distribution plan was approved at the annual general meeting on May 8, 2024, and is set to be implemented by May 20, 2024[151]. - The company emphasizes a proactive and stable profit distribution policy to ensure reasonable returns for investors while considering sustainable development[151].