Core Viewpoint - Kema Technology (301611.SZ) has received an inquiry letter from the exchange regarding its application to issue convertible bonds, focusing on the company's high growth in 2024 and the "revenue growth without profit increase" in Q3 2025 [1] Group 1: Financial Performance - In 2024, the company's non-GAAP net profit is expected to surge by 293.56%, driven by the recovery of the semiconductor industry and opportunities for domestic substitution [1] - In Q3 2025, despite an 18.10% increase in revenue, the non-GAAP net profit declined by 12.79% due to a significant increase in R&D expenses by 80.36% and management expenses by 42.80% [1] - The company's revenue for 2024 is projected to grow by 78.45%, with core semiconductor structural components seeing a revenue increase of 106.52% [1] Group 2: Customer Concentration and Accounts Receivable - The company emphasizes the significant head effect in the semiconductor industry, with stable partnerships with leading domestic clients such as North Huachuang and Zhongwei [2] - As of September 2025, accounts receivable aged over one year accounted for 7.60%, indicating manageable risk [2] - By the end of October 2025, the collection ratio for accounts receivable from the end of 2024 reached 84.87%, reflecting good collection performance [2]
2025年前三季度增收不增利被问询 珂玛科技回复