SCAM(SZ:300554)2025-04-27 07:35Financial Performance - The company reported a revenue of RMB 348.83 million for the year, a decrease of 27.49% year-on-year[3]. - The net profit attributable to shareholders was a loss of RMB 140.94 million, down 623.64% year-on-year[3]. - The company's operating revenue for 2024 was ¥348,828,326.12, a decrease of 27.49% compared to ¥481,047,822.26 in 2023[20]. - The net profit attributable to shareholders for 2024 was -¥140,938,418.77, representing a decline of 623.64% from ¥26,915,041.92 in 2023[20]. - The total assets at the end of 2024 were ¥971,742,672.39, down 17.97% from ¥1,184,613,927.77 at the end of 2023[20]. - The weighted average return on equity for 2024 was -19.23%, a decrease of 22.79% from 3.56% in 2023[20]. - The company reported a significant decline in sales prices and orders for silicon cutting wire due to fluctuations in the photovoltaic industry, impacting overall performance[47]. - The company achieved a total investment of 30,344.91 million, with a cumulative investment of 23,396.67 million by the end of the reporting period[91]. Market Conditions - The decline in revenue was primarily attributed to a decrease in orders for diamond wire and a significant drop in product prices[4]. - The company reported a significant increase in semiconductor consumables revenue, although overall revenue declined due to a drop in silicon slicing line prices and sales[29]. - The demand for diamond wire saw a significant increase due to the rapid development of the photovoltaic industry, which has led to record-high new installed capacity[32]. - The semiconductor industry presents a substantial market opportunity for diamond tools, driven by the domestic supply chain's localization and import substitution[38]. - The company faced challenges in the photovoltaic industry, leading to a significant decline in demand for silicon cutting lines and a reduction in orders for diamond wire and ring lines[61]. - The company is facing intensified competition in the diamond wire and diamond grinding wheel markets, with potential price declines affecting market position and profit margins, necessitating ongoing R&D and cost optimization efforts[105]. Research and Development - The company continues to focus on research and development to cultivate new growth points and expand into new markets[5]. - The company invested 36.34 million yuan in R&D expenses, accounting for 10.42% of operating revenue, marking the first time it exceeded 10%[60]. - The company has several ongoing R&D projects aimed at launching new products, including quartz grinding wheels and resin-bonded polishing wheels, to enhance market competitiveness[74][75]. - The company has established a research and development center in Japan to enhance its capabilities in diamond wheel product innovation[50]. - The company is currently developing a fully automatic mother-and-child axis thinning machine, marking its entry into the semiconductor manufacturing equipment sector[62]. - The company plans to launch new semiconductor processing equipment, including automatic thinning machines and edge polishing machines, in the near future[41]. Operational Strategies - The company plans to optimize internal management and adjust personnel structure to stabilize existing business operations[5]. - The company has established a robust procurement and production model to effectively control operational risks and meet expanding business needs[42]. - The company has implemented cost-saving measures by temporarily shutting down production lines and optimizing personnel in response to the downturn in the photovoltaic sector[61]. - The company has established stable business relationships with major clients in the photovoltaic and sapphire industries, including Jiangsu Xiexin and TCL Zhonghuan[54]. - The company has implemented measures to optimize production processes and reduce material waste to mitigate raw material cost pressures[112]. Governance and Compliance - The governance structure includes a board of directors with 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[120]. - The company held 2 shareholder meetings during the reporting period, adhering to legal protocols and ensuring equal rights for all shareholders[120]. - The company has a complete independent procurement, production, sales, and R&D system, demonstrating its autonomous operational capabilities[126]. - The company has established a comprehensive internal control system to ensure compliance with relevant laws and regulations, enhancing transparency and protecting shareholder interests[176]. - The company received a warning letter from the Jiangsu Securities Regulatory Bureau for not timely disclosing important information, and it is taking corrective actions[191]. Future Outlook - The company aims to become a leading supplier of precision superhard material products with international influence[99]. - In 2025, the company plans to maintain a high level of R&D investment, focusing on improving product quality and core competitiveness, particularly in reducing the manufacturing costs of diamond wires and enhancing the stability and yield of diamond grinding wheels[100]. - The company plans to mitigate risks from economic fluctuations by diversifying its product offerings and expanding into different market regions, both domestically and internationally[110]. - The company is focused on maintaining product competitiveness through continuous technological advancements and new product development to counter potential market disruptions from technological changes in downstream industries[109]. Employee and Training Policies - The company has established a comprehensive training management system to enhance employee skills and performance, focusing on sustainable development[152]. - The company has implemented a salary adjustment policy for core personnel to maintain competitiveness and motivation within the workforce[151]. - The total number of employees at the end of the reporting period is 665, including 153 from the parent company and 512 from major subsidiaries[149]. - The professional composition includes 423 production personnel, 34 sales personnel, 16 technical personnel, 14 financial personnel, 66 administrative personnel, and 112 R&D personnel[150].