NCE(SH:605111)2025-04-24 14:40Financial Performance - The company achieved operating revenue of RMB 1,828,423,971.04 in 2024, a 23.83% increase compared to RMB 1,476,561,366.82 in 2023[26]. - Net profit attributable to shareholders reached RMB 434,575,997.43, reflecting a 34.50% increase from RMB 323,116,344.25 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was RMB 404,977,821.59, up 33.05% from RMB 304,369,345.44 in 2023[26]. - The diluted earnings per share increased to RMB 1.05, a 34.62% rise from RMB 0.78 in 2023[27]. - The weighted average return on equity rose to 11.48%, an increase of 2.23 percentage points from 9.25% in 2023[27]. - The company reported a significant increase in revenue, achieving a total of $X million for the quarter, representing a Y% growth year-over-year[190]. - The company reported a decrease in operational costs by I%, improving overall profitability margins[192]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.651 RMB per 10 shares, totaling approximately 26,969,562.05 RMB, based on a total share capital of 414,278,987 shares as of March 31, 2025[6]. - The company has conducted share buybacks and mid-term dividends in 2024, indicating a commitment to returning value to shareholders[6]. Audit and Compliance - The company has received a standard unqualified audit report from Tianheng Accounting Firm, ensuring the accuracy and completeness of the financial report[5]. - The company continues to improve its internal governance and control systems, enhancing operational efficiency and ensuring timely and accurate information disclosure[72]. - The company has established a transparent information disclosure system, ensuring timely and accurate reporting[182]. Research and Development - The company is committed to ongoing research and development to leverage cutting-edge semiconductor materials like SiC and GaN[1]. - R&D investment for 2024 was approximately 103.75 million CNY, accounting for 5.67% of total revenue, with a total of 240 patents held[51]. - The company has increased R&D expenses to 103,745,624.20 RMB, reflecting an 18.82% increase from the previous year, to enhance product development capabilities[115]. - The company is focused on developing SiC/GaN wide bandgap semiconductors and smart power ICs, aiming to become a leading brand in the automotive and energy storage sectors[164]. Market Expansion and Product Development - Future outlook indicates a focus on expanding product lines and enhancing technological capabilities in semiconductor devices[1]. - The company is actively pursuing market expansion strategies, particularly in high-voltage applications and power management sectors[1]. - New product developments include advanced MOSFETs and IGBTs aimed at improving efficiency and performance in power electronics[1]. - The company has launched over 200 automotive-grade MOSFET products, with supply quantities increasing by over 60% year-on-year, enhancing its market share in automotive electronics[46]. - The company is expanding its market presence in AI, robotics, and high-end server applications, responding to the growing demand for AI computing power[49]. Strategic Initiatives - The company plans to continue its strategic initiatives in mergers and acquisitions to strengthen its market position and technological edge[1]. - The company aims to strengthen its core competitiveness and long-term profitability through strategic investments and collaborations[73]. - The company has ongoing partnerships with multiple technology firms, indicating a focus on market expansion and collaboration[194]. Supply Chain and Production - The company has maintained stable supply chain operations and product cost reduction efforts, ensuring stable supply and production coordination[62]. - The company has completed the process stabilization of the third-generation SGT MOS with Rsp reduced by 35% compared to the previous generation, and the device FOM is over 30% lower than the best competitors in the same specifications[53]. - The company has established a lifespan prediction model to meet automotive-grade lifespan requirements of over 15 years[61]. Corporate Governance - The company has improved its governance structure and internal control systems during the reporting period[183]. - The company maintains complete independence in assets, personnel, finance, institutions, and business operations, with no shared assets with shareholders[184]. - The company has established an independent financial department with a complete accounting system and independent bank accounts[184]. Shareholder Information - The total shares held by the chairman, Zhu Yuanzheng, increased from 64,802,304 to 90,723,226, representing an increase of 40% during the reporting period[188]. - The total shares held by the general manager, Ye Peng, increased from 3,524,080 to 3,629,440, reflecting a growth of approximately 3%[188]. - The total shares held by the vice president, Wang Chenghong, increased from 1,464,120 to 1,485,876, indicating a rise of about 1.5%[188]. Risks and Challenges - The company faces market volatility risks due to its dependence on the overall economic environment, which could impact demand and pricing for semiconductor power devices[173]. - The company is exposed to procurement price fluctuation risks, particularly in chip foundry and testing services, which significantly affect its operating performance[174]. - New depreciation and amortization expenses from investment projects may impact future operating performance if market conditions change adversely[177].