银河微电(688689) - 2024 Q4 - 年度财报

Financial Performance - The company achieved operating revenue of ¥909,049,584.47 in 2024, representing a year-on-year increase of 30.75%[22]. - Net profit attributable to shareholders was ¥71,874,234.87, up 12.21% compared to the previous year[22]. - The basic earnings per share increased by 12.00% to ¥0.56, while the diluted earnings per share also rose by 12.00% to ¥0.56[20]. - The net profit after deducting non-recurring gains and losses was ¥48,049,884.64, reflecting a significant increase of 49.21% year-on-year[22]. - The company's total assets reached ¥2,205,810,186.87 at the end of 2024, an increase of 10.83% from the previous year[21]. - The weighted average return on net assets improved to 5.47%, an increase of 0.53 percentage points compared to the previous year[20]. - Operating costs rose to 670.73 million yuan, reflecting a 31.23% increase due to higher sales revenue[85]. - The gross profit margin for semiconductor devices decreased by 0.12 percentage points to 26.36% compared to the previous year[89]. Research and Development - Research and development expenses accounted for 6.17% of operating revenue, slightly up from 6.06% in the previous year[20]. - The company invested a total of 56.05 million yuan in R&D during the reporting period, accounting for 6.17% of its revenue, and filed 52 new patent applications, including 15 invention patents[49]. - The company has made breakthroughs in SiC and GaN technology, achieving initial design capabilities for SiC MOSFET and GaN HEMT chips, with small-scale applications already in place[34]. - The company has applied for 52 new intellectual property rights and received 39 new authorizations during the reporting period[32]. - Total R&D expenses increased to ¥56,049,945.56, up 33.08% from ¥42,117,351.36 in the previous year[59]. - The company has focused on quality improvement and integrated device development, enhancing the economic benefits of its R&D outcomes[49]. - The company has achieved significant R&D milestones, including the development of high-reliability high-frequency switching diode chips and a full series of voltage-stabilizing tube chips[56]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[4]. - The company has confirmed that all board members attended the board meeting, ensuring accountability for the annual report's accuracy[4]. - The company has established a governance structure that ensures independence from its controlling shareholder, with no non-operational fund occupation reported[130]. - The company has a comprehensive internal control system in place, enhancing governance standards and operational independence[128]. - The company held 1 annual general meeting and 1 extraordinary general meeting during the reporting period, with all resolutions passed and no proposals rejected[131]. - The board of directors convened 11 meetings, consisting of 8 members, including 3 independent directors, complying with legal requirements[129]. Market and Industry Outlook - The global semiconductor market is projected to reach $643 billion in 2024, with a year-on-year growth of 7.3%[46]. - The Chinese semiconductor discrete device market is expected to exceed 320 billion yuan in 2024 and 430 billion yuan by 2030, driven by demand from new energy vehicles, 5G communication, and industrial automation[40]. - The domestic power device market is anticipated to reach nearly 180 billion yuan by 2025, accounting for half of the discrete device market[41]. - The semiconductor industry is experiencing rapid technological upgrades, with advancements in process technology and new semiconductor materials like SiC and GaN gaining traction[46]. Environmental and Sustainability Efforts - The company has invested 807.14 million yuan in environmental protection during the reporting period[185]. - The company is focusing on energy conservation and emission reduction, with initiatives like expanding solar power usage and wastewater recycling systems[183]. - The company has successfully maintained compliance with all pollution discharge standards as per the semiconductor industry regulations[186]. - The company actively utilizes clean energy sources, including a rooftop solar photovoltaic power station, to promote green energy usage[199]. - The company has implemented carbon reduction measures that resulted in a decrease of 1,096.5 tons of CO2 equivalent emissions[199]. Risks and Challenges - Risks include the potential inability to meet customer demands for new product development, which could slow revenue growth[73]. - The company faces challenges in technology R&D, with high costs and long cycles potentially impacting performance if results are not achieved[73]. - The company is exposed to international market competition, particularly from leading firms in the semiconductor industry[79]. - Changes in tax incentives for high-tech enterprises could adversely affect the company's financial performance[82]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 2.30 yuan per 10 shares, totaling approximately 29.25 million yuan, which accounts for 40.69% of the net profit attributable to shareholders for the year 2024[5]. - The company plans to distribute a total cash dividend of 59,726,479.20 RMB, which accounts for 83.10% of the net profit attributable to shareholders[161]. - The cumulative cash dividends over the last three fiscal years amount to CNY 25,777,524.00, with a cash dividend payout ratio of 57.93%[163].