Leadmicro(SH:688147)2025-04-25 12:35Financial Performance - The company's operating revenue for 2024 reached CNY 2,699,900,404.22, representing a year-on-year increase of 60.74%[24]. - The net profit attributable to shareholders for 2024 was CNY 226,708,175.77, a decrease of 16.16% compared to the previous year[25]. - The net cash flow from operating activities for 2024 was -CNY 999,898,735.90, primarily due to increased funding needs from the semiconductor business[25]. - The company's total assets as of the end of 2024 amounted to CNY 8,261,133,470.64, an increase of 8.96% from the previous year[24]. - The basic earnings per share for 2024 was CNY 0.50, down 16.67% from CNY 0.60 in 2023[24]. - The company's net assets attributable to shareholders at the end of 2024 were CNY 2,595,388,613.63, reflecting a growth of 10.70% year-on-year[24]. - The company reported a total of 39,420,727.50 RMB in non-recurring gains and losses, with a significant tax impact of 6,868,807.13 RMB[31]. - The company’s operating revenue increased by 60.74% year-on-year, reaching approximately ¥2.70 billion, primarily due to the conversion of backlog orders and an increase in the acceptance of specialized equipment products[147]. - Operating costs rose by 67.36% year-on-year, totaling approximately ¥1.62 billion, in line with the revenue growth[151]. - Research and development expenses grew by 50.78% year-on-year, amounting to approximately ¥267.11 million, reflecting increased investment in R&D and higher personnel costs[151]. Dividend and Share Capital - The company plans to distribute a cash dividend of 0.44 RMB per 10 shares, totaling approximately 19,974,795.68 RMB (including tax) based on a total share capital of 453,972,629 shares after accounting for repurchased shares[6]. - The company’s total share capital is 457,678,129 shares as of the date of the board meeting notice[6]. Audit and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm[5]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[9]. - The company has no violations of decision-making procedures for providing guarantees[11]. - The company has not disclosed any special arrangements for corporate governance[7]. - The company has maintained compliance with legal and regulatory requirements in the convening and conducting of shareholder meetings[198]. Research and Development - Research and development expenses accounted for 15.52% of operating revenue in 2024, a decrease of 2.82 percentage points from the previous year[24]. - The company has increased its R&D investment and market expansion efforts, resulting in significant achievements in both ALD and CVD equipment applications[39]. - The company’s R&D investment for 2022, 2023, and 2024 is projected to be ¥138.40 million, ¥308.14 million, and ¥419.09 million respectively, totaling nearly ¥865.63 million over the last three years, with over 60% allocated to the semiconductor field[66]. - The company has applied for and authorized a total of 252 new patents, bringing the cumulative number of patent applications to 613, while the total number of authorized patents reached 178[66]. - The company has developed multiple high-precision film deposition technologies for advanced packaging, supporting high-performance chip packaging needs, with products undergoing prototype testing at advanced packaging customers[109]. Market Position and Growth - The semiconductor business has seen substantial growth driven by demand in artificial intelligence, new energy vehicles, and data centers, with the company capturing core customer capacity expansion opportunities[39]. - The company has established deep partnerships with multiple domestic manufacturers in the semiconductor field, covering various applications including logic, storage, and compound semiconductors[36]. - The company has become a leader in providing efficient battery technology and equipment in the photovoltaic sector, maintaining a top position in revenue scale and market share for ALD products[37]. - The company has achieved the highest revenue scale, total orders, and market share in the domestic ALD product segment for several consecutive years[98]. - The global semiconductor market is projected to exceed $1 trillion by 2030, driven by emerging applications such as AI[87]. - The global semiconductor thin film deposition equipment market is expected to reach $55.9 billion by 2029, with the domestic market projected to reach $16.2 billion[91]. Risks and Challenges - The company has detailed potential risks in the report, which can be found in the management discussion and analysis section[4]. - The report includes a forward-looking statement risk declaration, indicating that future plans and strategies do not constitute a substantive commitment to investors[8]. - The company faces risks related to new product validation delays and significant quarterly performance fluctuations due to non-uniform customer procurement patterns[135][134]. - The company is exposed to industry risks, including potential downturns in the semiconductor and photovoltaic sectors, which could adversely affect operational performance[140]. Corporate Governance and Shareholder Engagement - The company held a total of 3 shareholder meetings during the reporting period, including 1 annual meeting and 2 extraordinary meetings, all of which passed all resolutions without any rejections[198]. - The current chairman, Wang Lei, holds no shares, while Vice Chairman and CTO Li Wei Min holds 42,831,704 shares, unchanged from the beginning of the year[200]. - The total pre-tax remuneration for Li Wei Min during the reporting period was 159.78 million yuan[200]. - The total pre-tax remuneration for Li Xiang, another key executive, was 161.98 million yuan, with no change in shareholding[200]. Strategic Initiatives - The company aims to lead in micro-nano manufacturing equipment by developing competitive products in semiconductor and next-generation photovoltaic battery sectors[182]. - The company intends to deepen cooperation with top semiconductor manufacturers to develop mass production process technologies and proprietary equipment, enhancing its product technology barriers and international market competitiveness[188]. - The company plans to strengthen its marketing teams to expand both domestic and international markets, while closely monitoring market dynamics and customer needs to provide competitive solutions[191]. - The company has implemented a risk prevention strategy, including the introduction of D&O insurance and a comprehensive internal control system to ensure compliance and mitigate risks[196].