Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.12 per 10 shares, totaling approximately RMB 71.33 million, which represents 22.93% of the net profit attributable to shareholders for the year 2023[5]. - The total share capital as of March 31, 2024, is expected to be 636,847,026 shares, which will be the basis for the dividend distribution[5]. - The company has not proposed any capital reserve conversion into share capital for this dividend distribution[5]. - The cash dividend policy stipulates that the cumulative cash distribution over any three consecutive fiscal years should not be less than 30% of the average distributable profit for those years[168]. - The company has established a differentiated cash dividend policy based on its development stage, with a minimum cash dividend ratio of 80% for mature stages without major capital expenditures[169]. - The company emphasizes a stable profit distribution policy, prioritizing cash dividends while ensuring sustainable development and long-term interests[168]. - The board of directors is responsible for formulating and adjusting the profit distribution plan, with independent directors collecting opinions from minority shareholders[170]. - The cash dividend conditions include positive distributable profits and sufficient cash flow to ensure ongoing operations[167]. - The company has a mechanism in place to protect the rights of minority shareholders, ensuring they have opportunities to express their opinions on profit distribution[171]. Financial Performance - The company's operating revenue for 2023 reached ¥926,053,722.41, representing a year-on-year increase of 9.64% compared to ¥844,661,250.04 in 2022[22]. - Net profit attributable to shareholders of the listed company was ¥311,065,266.85, up 10.61% from ¥281,220,444.82 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥276,671,955.49, reflecting a 2.55% increase from ¥269,795,135.25 in 2022[22]. - The net cash flow from operating activities turned positive, amounting to ¥53,736,512.48, compared to a negative cash flow of ¥1,650,919.34 in 2022[22][24]. - The company's total assets increased by 18.76% to ¥2,274,217,612.93 at the end of 2023, up from ¥1,914,995,807.02 at the end of 2022[22]. - The net assets attributable to shareholders of the listed company increased by 35.01% to ¥1,312,814,437.45 at the end of 2023, compared to ¥972,362,296.40 at the end of 2022[22]. - The company paid taxes totaling 113.09 million yuan, which is a significant increase of 53.96% compared to the previous year[187]. Research and Development - Research and development expenses accounted for 21.40% of operating revenue, an increase of 1.31 percentage points from 20.09% in 2022[23]. - The total R&D investment for the year was ¥19,814.25 million, an increase of 16.75% compared to the previous year, representing 21.40% of operating revenue[71]. - The company has established a comprehensive R&D system in the special integrated circuit field, with a focus on developing core technologies and holding multiple patents, positioning itself in the top tier of the industry[36]. - The company has developed a series of core technologies in digital and analog integrated circuits, including high-speed low-power FPGA design technology and high-precision ADC design technology[62]. - The company achieved significant advancements in integrated circuit research, including a series of 32-bit microcontrollers and high-speed A/D converters[68]. - The company has a core team of 6 technical experts in high-performance FPGA, high-speed ADC/DAC, and intelligent SoC product design, contributing significantly to R&D projects[79]. - The company has developed a new 1Gbit storage chip that is currently in the sample user testing phase, with a 2Gbit NOR Flash memory under development[68]. - The company has undertaken multiple national key research projects in FPGA, ADC, and SoC since the "11th Five-Year Plan," positioning itself as one of the few domestic companies handling both digital and analog integrated circuit projects[194]. Market and Industry Outlook - The company anticipates continued growth in the integrated circuit industry driven by generative AI and increased penetration of automotive intelligence[35]. - The integrated circuit market size reached $479.99 billion in 2022, with the Asia-Pacific region holding the largest market share[52]. - The special electronic industry in China is projected to grow to ¥501.2 billion by 2025, with a compound annual growth rate (CAGR) of 9.33% from 2021 to 2025[52]. - The company is focusing on expanding its market presence through new product development and strategic partnerships[68]. - The company is currently in a rapid development phase and must keep pace with market dynamics to avoid losing competitive edge[84]. Corporate Governance - The company has received a standard unqualified audit report from Da Xin Certified Public Accountants[5]. - The board of directors has confirmed that all members attended the board meeting, ensuring the integrity of the annual report[5]. - The company has confirmed that there are no special arrangements for corporate governance that apply[8]. - The company's governance structure complies with relevant laws and regulations, ensuring independent operation from its controlling shareholder[129]. - The company has not faced any penalties from securities regulatory authorities in the past three years[149]. - The company has established a robust internal control system to enhance risk awareness and ensure compliance with legal regulations[177]. Employee and Workforce Management - The company employed a total of 953 staff, with 706 in the parent company and 247 in major subsidiaries[160]. - The workforce includes 334 production personnel, 58 sales personnel, 392 technical personnel, 24 financial personnel, and 145 administrative personnel[161]. - The company emphasizes a performance-based salary system, linking compensation to job performance and responsibilities[162]. - The average salary of R&D personnel decreased to 36.37 thousand RMB from 40.58 thousand RMB in the previous period[77]. - The company added 138 new employees during the reporting period, with female employees making up 18.60% of the workforce[187]. Risk Management - The company has outlined various operational risks in the report, which investors are advised to review[4]. - The company is subject to a forward-looking statement risk, indicating that future plans and strategies do not constitute a substantive commitment to investors[7]. - The company faces risks related to accounts receivable collection, as the scale of accounts receivable has been expanding with business growth[86]. - The company has implemented a comprehensive safety production responsibility system covering all management and operational positions[193]. Environmental and Social Responsibility - The company successfully reduced carbon emissions by approximately 22.6 tons of CO2 equivalent through energy-saving measures[185]. - The company is committed to sustainable development and actively fulfills its economic, social, and political responsibilities as a state-owned enterprise[194].
成都华微(688709) - 2023 Q4 - 年度财报