PNC(SH:603690) Zheng Quan Shi Bao Wang·2025-04-29 05:24Core Viewpoint - The annual report of Zhichun Technology (603690) for 2024 indicates a revenue growth of 14.40% year-on-year, with total revenue reaching 3.605 billion yuan and a net profit attributable to shareholders of 23.5975 million yuan [1] Group 1: Financial Performance - In 2024, Zhichun Technology achieved a total new order amount of 5.577 billion yuan, with long-term orders (over 5 years) totaling 117 million yuan [1][3] - The company's R&D investment reached 442 million yuan in 2024, significantly up from 13 million yuan in 2017, with cumulative R&D investment exceeding 1.5 billion yuan over the past five years [1] Group 2: Market Position and Strategy - Zhichun Technology has established the first fully domestically produced 12-inch wafer gas station for 28nm processes, breaking the international suppliers' monopoly [2] - The company has built a production and service base of 420,000 square meters, with an additional 48,700 square meters under construction, supporting its strategic goals [2] Group 3: Order Growth and Client Base - The new orders in 2024 saw a growth of 17.88% compared to 2023, with 84.55% of the new orders coming from the integrated circuit industry, and 88.46% of these orders serving 12-inch integrated circuit clients [3] - The company is expanding its innovation map towards the entire semiconductor industry chain, implementing a LAB2FAB strategy to enhance collaboration between technology research and industry [3] Group 4: Mergers and Acquisitions - Zhichun Technology is planning a strategic acquisition of Weidun Crystal Phosphorus, a leading domestic semiconductor material supplier, which could enhance product synergy and extend its business into critical consumables in semiconductor manufacturing [4] - The management has also developed plans to reduce operating costs and improve cash flow through better resource allocation and receivables management [4]