Maxscend Microelectronics Company Limited(SZ:300782) 是说芯语·2025-05-18 13:09Core Viewpoint - The article discusses the planned share reduction by the actual controllers of Jiangsu Zhaosheng Microelectronics Co., Ltd. (卓胜微), highlighting the implications for the company's stock performance and market perception amid recent financial challenges [2][3][4]. Group 1: Share Reduction Announcement - The actual controllers and their concerted actions plan to reduce their holdings by up to 5.3455 million shares, accounting for 1% of the total share capital, due to personal financial needs [2]. - The reduction will occur within three months after a 15 trading day period following the announcement, with shares sourced from pre-IPO holdings and stock obtained through divorce property division [2]. - The company emphasizes that this reduction complies with regulatory requirements and will not lead to a change in control or affect ongoing operations [2]. Group 2: Financial Performance - As of May 16, the stock price was 73.40 yuan per share, with a total market capitalization of approximately 39.236 billion yuan [3]. - The company reported a significant decline in Q1 2025 revenue, down 36.47% year-on-year to 756 million yuan, resulting in a net loss of 46.623 million yuan, marking a rare quarterly loss [3]. - For the full year 2024, net profit decreased by 64.20% to 402 million yuan, with operating cash flow down 95.76% and inventory increasing by 68.88% to 2.521 billion yuan [3]. Group 3: Industry Context and Future Outlook - As a leading player in the RF chip sector, the company is positioned in key markets such as 5G communications and automotive electronics, benefiting from domestic semiconductor policy incentives [3]. - Despite facing intensified competition and weak global demand, the company continues to invest in R&D, with expenses reaching 999 million yuan in 2024, a 58.53% increase, representing 22.22% of revenue [3]. - Analysts suggest that while the share reduction may cause short-term volatility, the company's technological capabilities and market share remain strong, with potential benefits from emerging markets like smart vehicles and IoT [4].