Zheng Quan Shi Bao Wang·2025-03-27 12:54Core Insights - Company reported a revenue of RMB 57.796 billion for 2024, a year-on-year increase of 27.7%, while net profit decreased by 23.3% to RMB 3.699 billion [1] - The semiconductor market is experiencing a recovery, driven by demand from smartphones, personal computers, and consumer electronics, with emerging markets like IoT and wearables expanding [2] - The company is focusing on innovation, cost reduction, and market expansion to meet the growing demand for local manufacturing and to adapt to customer needs [2] Financial Performance - Revenue growth was attributed to an increase in wafer sales volume, which rose by 36.7% from 5.867 million units in 2023 to 8.021 million units in 2024 [1] - Average selling price of wafers decreased from RMB 6,967 in 2023 to RMB 6,639 in 2024 [1] - Gross margin stood at 18% with a capacity utilization rate of 85.6% [1] Market Segmentation - In 2024, the revenue breakdown by application was as follows: smartphones (27.8%), personal computers (16.6%), consumer electronics (37.8%), IoT and wearables (10.0%), and industrial and automotive (7.8%) [3] - By region, the revenue distribution was: China (84.6%), USA (12.4%), and Eurasia (3.0%) [3] Industry Outlook - The global semiconductor industry is characterized by both cyclicality and growth potential, with short-term supply-demand imbalances not affecting long-term trends [2] - The company anticipates stable or moderate growth in various application areas in 2025, with AI continuing to grow rapidly [4] - The company aims for revenue growth above the average of comparable peers in 2025, with capital expenditures expected to remain stable compared to the previous year [4]