Chengchang Technology(001270) 新浪财经·2025-04-22 20:37Core Points - Zhejiang Chengchang Technology Co., Ltd. reported significant declines in multiple financial metrics for the year 2024, including a net profit decrease of 139.04% and a cash flow from operating activities decline of 228.47% [1] Revenue - The company's operating revenue for 2024 was 211,539,009.02 yuan, down 26.38% from 287,353,971.81 yuan in the previous year, primarily due to project delays and extended funding approval cycles [2] - T/R chip sales accounted for 91.48% of total revenue but fell by 30.52% year-on-year, while revenue from technical services grew by 103.95% [2] Net Profit - The net profit attributable to shareholders was -31,117,893.52 yuan in 2024, compared to 79,707,857.22 yuan in 2023, marking a shift from profit to loss [3] - The decline in net profit was attributed to high R&D investments, increased credit impairment losses, and stock-based compensation expenses related to an employee incentive plan [3] Deducted Non-Recurring Profit - The deducted non-recurring profit was -43,613,965.50 yuan, a decrease of 162.38% from 69,911,116.06 yuan in 2023, indicating weakened core business profitability [4] Earnings Per Share - Basic earnings per share fell to -0.1529 yuan from 0.3917 yuan in 2023, reflecting a significant decline in shareholder returns [5] - The deducted earnings per share also turned negative at -0.2143 yuan, highlighting operational challenges [6] Expenses - Sales expenses increased by 6.17% to 10,813,778.71 yuan, likely due to efforts to expand market share [7] - Management expenses rose by 13.58% to 28,845,485.07 yuan, driven by increased personnel costs and other operational expenditures [9] - Financial expenses showed a 36.46% increase due to reduced interest income [10] - R&D expenses surged by 29.15% to 87,859,915.93 yuan, reflecting the company's commitment to innovation despite short-term profit pressures [11] Cash Flow - The net cash flow from operating activities was -47,571,089.62 yuan, a decrease of 228.47% from the previous year, indicating reduced cash generation capabilities [13] - The net cash flow from investing activities turned negative at -145,078,870.29 yuan, primarily due to increased capital expenditures [14] - The net cash flow from financing activities increased by 197.81% to 52,961,833.20 yuan, aided by employee stock incentive funding [15] R&D Personnel - The number of R&D personnel remained stable at 99, but the proportion of R&D staff decreased from 47.60% to 41.77% [12] Summary - Overall, Chengchang Technology's performance in 2024 showed significant declines across various financial metrics, with multiple challenges ahead, including cash flow issues and operational pressures. The company is actively pursuing market expansion and R&D initiatives to address these challenges [1]