SM Micro(688699)2025-04-25 11:15Financial Performance - The company's total revenue for 2024 was CNY 607.40 million, a decrease of 5.90% compared to 2023[20]. - The net profit attributable to shareholders was CNY 7.09 million, an increase of 108.19% year-on-year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -19.56 million, an increase of 82.17% compared to the previous year[20]. - The company's cash flow from operating activities was CNY -58.67 million, a decline of 123.14% year-on-year[20]. - The basic and diluted earnings per share were CNY 0.07, up 108.86% from the previous year[22]. - The company's total assets at the end of 2024 were CNY 1,485.43 million, a decrease of 5.79% compared to 2023[23]. - The net assets attributable to shareholders were CNY 1,238.25 million, down 6.93% year-on-year[23]. - The company's gross profit margin improved by 10.13 percentage points due to enhanced inventory management and product structure optimization[23]. - The company's main business revenue decreased by 6.63% year-on-year, primarily due to a 15.05% decline in sales of display driver chips[79]. - Operating costs decreased by 16.61% to CNY 459.45 million, primarily due to a decline in sales of display products[76]. - The comprehensive gross profit margin for 2024 was 24.36%, an increase of 9.72 percentage points from 2023[78]. - Net profit for the period was CNY 7.09 million, a significant turnaround from a net loss of CNY 86.56 million in the previous year, representing a 108.19% increase[76]. Research and Development - Research and development expenses accounted for 17.90% of total revenue, an increase of 3.10 percentage points compared to the previous year[22]. - The company applied for 26 new patents during the reporting period, totaling 82 intellectual property projects, with 572 projects authorized to date[33]. - The company has invested a total of $1,045.34 million in the development of driver chip technology, with a current period investment of $653.92 million, aiming for continuous R&D progress[61]. - The company has increased its R&D efforts, leading to a rise in R&D material costs, contributing to the overall increase in R&D expenses[58]. - R&D expenses for the year amounted to 10,870.15 million yuan, representing 17.90% of operating revenue, an increase of 3.10 percentage points year-on-year[58]. - The company is committed to continuous R&D investment to improve product capabilities and meet market demands[108]. - The company has a total of 285 R&D personnel, representing 33.06% of the total workforce, an increase from 31.05% in the previous period[65]. - The company has established a process device center to integrate product design with manufacturing processes, ensuring cost control and customized device design[41]. Market and Product Development - The company is actively expanding into overseas markets, participating in international industry exhibitions to enhance brand promotion and market coverage[34]. - The company is focusing on high value-added product segments to strengthen its competitive position in the market[34]. - The company is transitioning towards a full-stack smart lighting solution, integrating hardware and software for better system performance[109]. - The company is enhancing its Mini backlight product market penetration through deep collaboration with major clients[109]. - The company is developing a low-power Mini LED backlight driver chip with a total investment of $678.61 million, currently investing $424.84 million, aiming to enhance LCD display effects and reliability[62]. - The company has established long-term strategic partnerships with upstream wafer suppliers, supporting a diversified process technology[35]. - The company has built an integrated design and packaging testing model, enhancing research and development efficiency and customer responsiveness[35]. Governance and Compliance - The company has established a robust internal information disclosure management system, adhering to principles of truthfulness, accuracy, completeness, and fairness[115]. - The company strictly follows the Shanghai Stock Exchange's disclosure rules, ensuring equal access to information for all investors[115]. - The company has not engaged in any related party transactions that would compromise its independence or operational capability[114]. - The company has not faced any major litigation or arbitration matters during the reporting period[195]. - The company has not reported any violations or penalties against its directors, supervisors, senior management, or controlling shareholders[195]. - The company maintains independence in finance, personnel, assets, business, and organization, ensuring a complete business system and autonomous operational capability[114]. Environmental and Social Responsibility - The company promotes low-carbon and sustainable development practices, including paperless office initiatives and energy-saving activities[159]. - The company adheres to environmental laws and has implemented measures for waste gas, waste water, noise, and solid waste treatment[156][157]. - The company has not made any donations or contributions to public welfare activities during the reporting period, with a total of 0.00 million yuan in donations[164]. - The company actively fulfills tax obligations and adheres to environmental policies, contributing to sustainable development through product innovation[171]. Financial Management - The company has entrusted financial management with a total of CNY 956,116,672.40 from self-owned funds and CNY 8,760,000.00 from raised funds[199]. - The annualized return rate for the bank financial products ranges from 2.15% to 3.10%[200]. - The company has a total of CNY 524,148,570.00 in unexpired balances from bank financial products[199]. - The company has confirmed that all financial management activities have followed legal procedures[199]. Shareholder Relations - The company plans not to distribute profits for the 2024 fiscal year, with no cash dividends or stock bonuses proposed[5]. - The accumulated undistributed profits will be rolled over to the next fiscal year for R&D investments and daily operations[146]. - The company has proposed a three-year shareholder dividend return plan for 2024-2026[129]. - The company held three shareholder meetings during the reporting period, ensuring compliance with legal requirements[112].