PACIFIC QUARTZ(SH:603688) Sou Hu Cai Jing·2025-04-27 04:38Core Viewpoint - The significant decline in Quartz Co., Ltd.'s performance in 2024 is primarily attributed to fluctuations in the photovoltaic industry, leading to a drastic reduction in revenue and profits [4][6]. Financial Performance - The total revenue for 2024 was 1.21 billion, a decrease of 83.15% compared to 7.18 billion in 2023 [4][5]. - Gross profit for 2024 was 556 million, and net profit attributable to shareholders was 334 million, reflecting year-on-year declines of 93.38% and 94.55% respectively [4][5]. - The rolling quarter-on-quarter growth rates for total revenue, net profit, and non-recurring net profit were -46.95%, -70.87%, and -75.53% respectively, indicating a significant performance downturn [4]. Industry Impact - The decline in performance is largely due to reduced demand for quartz materials used in photovoltaic applications, as the industry undergoes capacity reduction and inventory clearance [4][6]. - Despite challenges in the photovoltaic sector, the semiconductor materials segment is emerging as a new growth point for the company [5][6]. Strategic Focus - The company is committed to prioritizing the development of semiconductor materials, increasing research and development investments in this area [5][6]. - The high-purity quartz sand produced by the company has successfully entered the semiconductor field and has passed key customer certifications, enhancing its market access [5]. Financial Health and Shareholder Returns - Despite the significant drop in performance, the company plans to distribute a cash dividend of 1.9 per 10 shares (including tax), totaling 102 million, which represents 30.69% of the net profit attributable to shareholders [5]. - The company's financial ratios indicate a relatively stable financial condition, with a debt-to-asset ratio of 10.69%, a current ratio of 6.949, and a quick ratio of 5.351 [5].