Group 1 - The stock of Jiehuate (688141.SH) closed at 30.72 yuan, with a decline of 2.10%, and a total market capitalization of 13.728 billion yuan, currently in a state of breaking issue [1] - Jiehuate was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 23, 2022, with an initial public offering of 58.08 million shares at a price of 38.26 yuan per share [1] - The total amount raised from the IPO was 222.21408 million yuan, with a net amount of 205.46849 million yuan, exceeding the original planned fundraising by 48.37376 million yuan [1] - The company originally intended to raise 157.09473 million yuan for various projects including high-performance power management chip R&D, analog chip R&D, automotive electronic chip R&D, advanced semiconductor process platform development, and working capital [1] - The total issuance costs for the IPO were 16.74559 million yuan, with underwriting fees amounting to 13.33284 million yuan [1] - The actual controllers of Jiehuate are Zhou Xun Wei, a U.S. national, and Huang Biliang, a resident of Macau, China [1] Group 2 - On February 18, Jiehuate announced the authorization for the management to initiate preparations for the issuance of H-shares and listing on the Hong Kong Stock Exchange [2] - The board of directors approved the management to start the preparatory work for the H-share listing, with an authorization period of 12 months from the date of board approval [2]

Core Viewpoint - Jiewate reported a revenue of 1.679 billion yuan for 2024, marking a year-on-year increase of 29.46%, but incurred a net loss attributable to shareholders of 603 million yuan, worsening from a loss of 531 million yuan in the previous year [1][2]. Financial Performance - Revenue for 2024 reached 1,678,750,683.28 yuan, up 29.46% from 1,296,748,737.23 yuan in 2023 [2]. - The net profit attributable to shareholders was -603,372,915.33 yuan, compared to -531,409,069.34 yuan in the previous year [2]. - The net profit after deducting non-recurring gains and losses was -643,754,732.38 yuan, worsening from -554,133,837.85 yuan in 2023 [2]. - The net cash flow from operating activities was -360,439,834.38 yuan, compared to -291,425,072.33 yuan in the previous year [2]. Dividend Policy - The company will not distribute profits for the 2024 fiscal year, meaning no cash dividends, bonus shares, or capital reserve transfers to increase share capital [2]. IPO and Fundraising - Jiewate was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 23, 2022, with an initial public offering of 58.08 million shares at a price of 38.26 yuan per share [3]. - The total amount raised from the IPO was 222,214.08 million yuan, with a net amount of 205,468.49 million yuan, exceeding the original fundraising target by 48,373.76 million yuan [3]. Future Plans - On February 18, 2025, the company announced plans to initiate preparations for issuing H-shares and listing on the Hong Kong Stock Exchange [4].