GALAXY MICROELECTRONICS(SH:688689)2024-03-25 16:00Financial Performance - The company achieved operating revenue of ¥695,265,111.22 in 2023, a year-on-year increase of 2.86%[23]. - Net profit attributable to shareholders was ¥64,052,300.09, representing a decrease of 25.85% compared to the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥32,202,494.99, down 49.24% year-on-year[25]. - Basic and diluted earnings per share decreased by 25.37% to ¥0.50[24]. - The total assets at the end of 2023 were ¥1,990,282,900.28, an increase of 4.55% from the beginning of the year[25]. - The company's cash flow from operating activities was ¥101,657,078.77, a decrease of 4.32% compared to the previous year[23]. - The company's operating costs increased by 5.55% to 511.12 million RMB, with the main business costs also rising by 5.55%[89]. - The company reported a net profit margin of 12%, reflecting improved cost management and operational efficiencies[137]. Dividend and Share Capital - The company plans to distribute a cash dividend of 2.0 yuan per 10 shares, totaling approximately 25.78 million yuan, which accounts for 40.24% of the net profit attributable to shareholders in the 2023 consolidated financial statements[5]. - The total share capital as of March 5, 2024, is 128,902,949 shares, with a deduction of 15,329 shares held in the repurchase account[5]. - The company does not plan to issue bonus shares or increase capital from reserves in 2023[5]. Research and Development - The company has invested CNY 42.12 million in R&D, accounting for 6.06% of its revenue, and filed 51 new patents, including 18 invention patents[48]. - Research and development expenses accounted for 6.06% of operating revenue, down 0.92 percentage points from the previous year[24]. - The company completed the development of flip-chip packaging technology and invisible light transceiver devices for automotive applications[56]. - The company is focusing on the development of new semiconductor materials such as SiC and GaN, which are gradually maturing and expected to dominate the market in the future[44]. - The company has developed high-reliability third-generation semiconductor optocoupler products, enhancing its service capabilities in high-end applications[55]. Market and Industry Trends - The semiconductor discrete device market in China is expected to reach $12.741 billion in 2023, a year-on-year growth of 1.14% compared to $12.598 billion in 2022[39]. - The market share of China's semiconductor discrete devices in the global market is projected to be approximately 36.8% in 2023, down from 37.05% in 2022[39]. - The company is positioned to become a key player in the import substitution and international market competition for semiconductor products[47]. Governance and Compliance - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[7]. - The company has established a robust internal control system and governance structure to ensure compliance with legal and regulatory requirements[125]. - The company has not faced any penalties from securities regulatory authorities in the past three years[142]. Environmental and Social Responsibility - The company has implemented effective internal control systems, with no significant deficiencies reported during the period[175]. - The company has established a rooftop solar photovoltaic power station with a capacity of 260KW to reduce carbon emissions and promote green energy[192]. - The company donated 1 million yuan to the Changzhou Charity Association for disaster relief[198]. - The company provided 100,000 yuan to the Sanjing Experimental Primary School in Changzhou for character enhancement project construction[198]. Future Outlook and Strategy - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[138]. - The management team plans to enhance operational efficiency and achieve the 2024 business plan goals amidst a complex global economic environment[121]. - The company aims to improve operational efficiency, targeting a 5% reduction in production costs through advanced manufacturing technologies[137].