中微半导：收获上市后最好业绩 出货量创历史新高 保持高强度研发投入

Core Insights - The company reported its best performance since its listing, achieving an annual revenue of 912 million yuan, a year-on-year increase of 27.76%, and a net profit of 137 million yuan, marking a turnaround from losses [2] - The demand recovery in downstream sectors and the emergence of new economies and business models have expanded the application fields of the company's products, leading to a continuous increase in chip shipments, reaching a historical high [2] Financial Performance - The comprehensive gross profit margin for 2024 was 29.86%, an increase of 12.41 percentage points compared to 2023 [3] - The net cash flow from operating activities reached 313 million yuan, significantly increasing from the previous year due to strict control over credit sales and faster collection rates [3] - The total shipment volume exceeded 2.4 billion units, a year-on-year growth of approximately 30%, with 1.91 billion units of 8-bit chips and 210 million units of 32-bit chips, the latter showing a growth of about 64% [3] Research and Development - The company maintained high R&D investment, with 128 million yuan allocated in 2024, a nearly 6% increase, representing 13.99% of revenue [4] - The company successfully developed general-purpose MCU products, achieving series production for 8-bit chips and completing designs for 32-bit M0+ and M4 core products, expanding into AI servers and robotics [4] - The company’s products have reached or exceeded international standards in key technical indicators, with several products passing AEC-Q100 certification for automotive applications [4] Shareholder Returns - The company plans to distribute a cash dividend of 2.50 yuan per 10 shares, totaling approximately 99.71 million yuan [5] - Since its listing, the company has maintained a consistent dividend policy, with cumulative dividends amounting to 380 million yuan, representing 218% of cumulative net profits [5] - The company emphasizes investor communication, enhancing the professionalism of its board secretary team and engaging with investors through various channels [5]