3PEAK(SH:688536)2025-04-28 09:50Financial Performance - In 2024, the company reported a net loss attributable to shareholders of CNY 197,216,906.42, with undistributed profits at CNY 588,362,143.62 at year-end[5] - The board proposed no cash dividends, no bonus shares, and no capital reserve conversion to share capital for the 2024 fiscal year[5] - The company reported a significant increase in revenue, reaching $1.2 billion, representing a 15% year-over-year growth[16] - The company's operating revenue for 2024 reached ¥1,219,538,223.81, representing an increase of 11.52% compared to ¥1,093,519,073.21 in 2023[24] - The net profit attributable to shareholders for 2024 was -¥197,216,906.42, a significant decline from -¥34,713,078.50 in 2023[24] - The net cash flow from operating activities improved by ¥70,591,393.37, compared to a negative cash flow of -¥164,895,533.16 in the previous year[24] - The company achieved a revenue of 1.22 billion RMB, representing a year-on-year growth of 11.52%[41] - The comprehensive gross margin for 2024 was 48.19%, a decrease of 3.59 percentage points from the previous year[41] - The company recorded a net loss of 111.92 million RMB after deducting non-recurring gains and losses for the fourth quarter[31] - The company reported a total revenue of 292,629.50 million RMB, with a net profit of 57,705.71 million RMB, indicating a strong financial performance[102] Governance and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[6] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[7] - The company has not violated decision-making procedures for external guarantees[8] - The board of directors fully attended the meeting, ensuring governance and oversight[4] - The company received a standard unqualified audit report from its accounting firm, indicating the financial statements' accuracy and completeness[4] - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[187] - The company held 12 board meetings during the reporting period, with all directors attending and fulfilling their responsibilities diligently[187] - The supervisory board comprises 3 members and held 11 meetings, overseeing the company's financial status and management performance[188] - The company received an A-level rating for its information disclosure work from the Shanghai Stock Exchange for the 2023-2024 period[188] - The company is revising its articles of association to enhance its ESG management by establishing a "Strategic and Sustainable Development Committee"[190] Research and Development - The company is investing $50 million in R&D for new technologies aimed at enhancing product performance[16] - Research and development expenses accounted for 47.32% of operating revenue, down from 50.69% in 2023[25] - The total R&D investment for the year was approximately ¥577 million, representing a 4.10% increase from the previous year, while the proportion of R&D investment to operating income decreased by 3.37 percentage points to 47.32%[95] - The company received 25 new invention patents during the reporting period, bringing the total number of granted invention patents to 147[94] - The company has a total of 980 intellectual property applications, with 485 granted, indicating a strong focus on innovation and patent protection[94] - The company is committed to continuous innovation and has adopted a platform-based approach to enhance its R&D capabilities[106] Market Expansion and Strategy - The company provided an optimistic outlook for the next quarter, projecting a revenue growth of 10% to 12%[16] - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[16] - Market expansion efforts include entering three new international markets, projected to increase market share by 5%[16] - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of $100 million allocated for potential deals[16] - The company is focusing on expanding its market presence with new product offerings and technological advancements in the automotive and industrial sectors[91] - The company is actively pursuing mergers and acquisitions to enhance its competitive position in the market[198] Product Development and Innovation - The company launched several new products in the signal chain chip line, including a new current sensing amplifier and a series of high PSRR operational amplifiers, enhancing its competitive edge in markets like automotive and renewable energy[43] - In the power management chip line, the company introduced a high-integration PoE PD single-chip solution and various new products for industrial and automotive applications, further expanding its product matrix[44] - The company is focusing on low-power, robust voltage detection technology for analog front-end products, supporting reliable power-up and power-down detection[90] - The company achieved significant technological breakthroughs, including a high-speed analog switch with a signal switching rate of 16Gbps and a high-speed operational amplifier with a bandwidth of 8GHz and a slew rate of 3000V/us[91] Financial Risks and Challenges - The company is currently not profitable since its listing, which is a significant risk factor[3] - The decline in net profit was attributed to prolonged inventory destocking in the wireless communication and industrial markets, along with increased competition[27] - The company faced increased inventory provisions due to a rise in long-term inventory, impacting profitability[27] - The company is at risk of inventory impairment if market demand or competition changes adversely[117] - The company faces potential risks from international trade tensions affecting its operations and supply chain[121] Corporate Social Responsibility and ESG - The company has implemented a green and sustainable development approach, achieving ISO14001 and ISO45001 certifications during the reporting period[50] - The company has improved its ESG governance and disclosure practices, including publishing an ESG report in both Chinese and English[190] - The company emphasizes compliance training for its directors and senior management to strengthen regulatory awareness[191] Human Resources and Talent Development - The number of R&D personnel reached 518, accounting for 62.41% of the total workforce, with 60.42% of R&D staff holding a master's degree or higher[108] - The company is focusing on talent acquisition and development, with ongoing collaborations with universities to foster talent in the integrated circuit field[108] - The average salary for R&D personnel increased to 65.95 million RMB, compared to 62.04 million RMB in the previous period[104]