Yanmade(SH:688312) Zheng Quan Shi Bao Wang·2025-04-24 05:03Core Insights - The company reported a revenue of 498 million yuan for 2024, marking a year-on-year growth of 52.2%, and a net profit of 96.31 million yuan, up 40.46% year-on-year [2] - The operating cash flow for 2024 reached 37.4 million yuan, reflecting a significant increase of 893.43% [2] - The company achieved record highs in both revenue and net profit growth since its listing [2] Business Performance - The company has strengthened its position in the flexible printed circuit board (FPC) testing equipment market, with substantial growth in traditional FPC testing equipment sales compared to the previous year [5] - New business areas such as semiconductor testing equipment and automotive electronics have also contributed to revenue growth, driven by strong R&D investments [5][6] - The company is recognized as a global leader in FPC testing, primarily serving the Apple supply chain, with expectations of increased demand due to innovations in upcoming iPhone models [6] R&D and Innovation - R&D expenses for 2024 reached 121 million yuan, the highest since the company was listed, representing a 36.23% increase year-on-year and accounting for 24.33% of total revenue [9] - The company has focused on technological innovation and product upgrades, enhancing its core competitiveness in automation and intelligent testing [9][10] Global Expansion - The company has established a second headquarters in Hangzhou, which is expected to significantly increase production capacity to meet growing delivery demands [11] - A global layout has been constructed, with domestic bases in Shenzhen and Hangzhou, and international operations in Singapore, Vietnam, and Thailand [11] Shareholder Returns - The company plans to distribute a cash dividend of 5.00 yuan per 10 shares, totaling 70.91 million yuan, which represents 73.63% of its net profit [12] - Since its listing, the company has maintained a consistent cash dividend policy, with cumulative cash distributions amounting to 314 million yuan, accounting for 67% of total net profits [12]