Leadyo(SH:688135)2025-04-29 15:40Financial Performance - The net profit attributable to the parent company for the fiscal year 2024 is negative, leading to a decision not to distribute profits or dividends [6]. - In 2024, the company's operating revenue decreased by 2.97% to ¥488,125,581.61 compared to ¥503,084,480.19 in 2023 [24]. - The net profit attributable to shareholders of the listed company fell significantly by 383.69% to -¥61,618,728.34 in 2024 from ¥21,720,777.41 in 2023 [24]. - The basic earnings per share dropped by 381.82% to -¥0.31 in 2024, down from ¥0.11 in 2023 [25]. - The company's total assets increased by 25.00% to ¥2,592,747,635.77 in 2024, compared to ¥2,074,242,043.92 in 2023 [24]. - The cash flow from operating activities increased by 3.98% to ¥204,251,660.94 in 2024, compared to ¥196,442,710.52 in 2023 [24]. - The company achieved operating revenue of 48,812.56 million, a decrease of 2.97% year-on-year, and a net profit attributable to shareholders of -6,161.87 million, down 383.69% year-on-year [40]. - The company's debt-to-asset ratio has increased from 45.26% to 56.74%, indicating a rising trend in liabilities that could impact its solvency [142]. Governance and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants [5]. - The board of directors and supervisory board members have all attended the board meeting, ensuring governance compliance [5]. - The company has not reported any special arrangements in corporate governance [9]. - The governance structure has been strengthened with the establishment of a dedicated meeting mechanism for independent directors to enhance oversight and optimize governance [56]. Research and Development - The company invested RMB 7,783.18 million in R&D in 2024, accounting for 15.95% of its revenue, with cumulative R&D investment over the past three years totaling RMB 22,054.67 million, representing 15.28% of total revenue during that period [51]. - The company has developed 44 categories of chip testing solutions and completed mass production testing for thousands of chip models, accumulating a vast database of over 100 billion testing data points [51]. - The company has established a comprehensive R&D center focusing on integrated circuit testing, continuously improving testing solutions and developing core technologies to enhance testing accuracy and efficiency [101]. - The company has received 15 new invention patents and 29 utility model patents during the reporting period, bringing the total to 111 and 268 respectively, showcasing its commitment to innovation [103]. Market and Growth Strategy - The company plans to roll over the undistributed profits to the next fiscal year to support stable development [6]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the fiscal year [19]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 20% to 1.44 billion RMB [19]. - The company is focusing on high-end integrated circuit testing and wafer thinning technologies, aiming to improve product quality and reduce costs [43]. - The company aims to enhance its core competitiveness through management efficiency, risk control capabilities, and capacity building, focusing on high-reliability testing for GPUs, CPUs, AI, and automotive chips [52]. Operational Efficiency - The operating expenses were reduced by 10%, reflecting improved operational efficiency [19]. - The gross margin improved to 40%, up from 35% in the previous year, indicating better cost management [19]. - The company is implementing a precise capacity allocation model driven by project determination and market demand starting in 2024 [39]. - The company is enhancing supply chain management by establishing a dynamic price monitoring mechanism and improving inventory management [46]. Risks and Challenges - The company faces risks related to potential significant declines in performance due to external factors such as international politics and macroeconomic conditions, which could adversely affect market demand [126]. - The company is at risk of losing key R&D personnel, which could significantly impact its operational capabilities and competitive edge in the rapidly evolving semiconductor industry [128]. - The company is exposed to risks from potential changes in tax policies that could affect its net profit, particularly if it fails to maintain its high-tech enterprise status [141]. - The company is vulnerable to cyclical fluctuations in the integrated circuit industry, which could negatively impact its business performance during industry downturns [144]. Customer and Market Relationships - The company maintains long-term partnerships with chip design firms, developing testing solutions in tandem with product updates and technological advancements [85]. - The marketing team has expanded its network by adding 25 new strategic partners, enhancing overall marketing capabilities and customer satisfaction [54]. - The company emphasizes customer resource management and interaction, which enhances customer loyalty and supports sustainable business growth [116]. Investment and Financial Management - The company raised a net amount of RMB 51,288.91 million from the issuance of convertible bonds after deducting issuance costs of RMB 711.09 million [4]. - The company has established five testing technology service production bases in the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region to enhance service capabilities and meet customer demands [53]. - The company has made a capital increase of ¥32,925.71 million to its wholly-owned subsidiary Dongguan Liyang to support operational needs [186].