Core Viewpoint - The company is preparing for its 2024 Annual General Meeting (AGM) to discuss various proposals, including financial performance, profit distribution, and future strategic directions. Group 1: Meeting Procedures and Regulations - The AGM will ensure the verification of attendees' identities to maintain order and efficiency [2][3] - Attendees will have the right to speak, inquire, and vote, with specific guidelines on how to raise questions and make comments [3][4] - Voting will be conducted through both on-site and online methods, with results published in a resolution announcement [4][6] Group 2: Financial Performance - The company reported a revenue of 803.13 million yuan, representing a year-on-year increase of 23.83%, with semiconductor business revenue growing by 199.28% [7][8] - The net profit attributable to shareholders was 80.16 million yuan, a decrease of 30.71% compared to the previous year [7][8] Group 3: Business Development and Strategy - The company focuses on testing and detection equipment for semiconductor and new display devices, benefiting from the expansion of artificial intelligence applications [8][10] - Significant progress was made in the development of key products, including DRAM aging test repair equipment and MEMS probe cards, with increased market penetration [9][10] - The company plans to enhance its product matrix and expand into new markets, particularly in AMOLED and Micro LED technologies [12][15] Group 4: Research and Development - R&D expenditure reached 109.69 million yuan, accounting for 13.66% of revenue, with a year-on-year increase of 52.66% [10][11] - The company has obtained 413 intellectual property rights, including 84 invention patents, to strengthen its competitive edge [10][11] Group 5: Profit Distribution Proposal - The board proposed a cash dividend of 3.23 yuan per 10 shares, amounting to a total distribution of approximately 29.88 million yuan, which is 37.28% of the net profit [23][24] Group 6: Related Party Transactions - The company plans to confirm and estimate daily related party transactions for 2025, with expected transactions amounting to 42 million yuan [25][26] - The related parties include subsidiaries where the company's chairman holds positions, ensuring compliance with regulatory requirements [25][27]

Core Insights - Shenzhen Jingzhida Technology Co., Ltd. focuses on testing and detection equipment, particularly in semiconductor memory devices and new display devices, revealing significant changes in its 2024 annual report, including a 52.66% increase in R&D expenses and a 30.71% decrease in net profit [1] Financial Key Data Interpretation - The company achieved operating revenue of 803,129,707.64 yuan in 2024, a 23.83% increase from 648,563,325.45 yuan in 2023, driven by rapid growth in the semiconductor equipment sector, particularly a 200.80% increase in semiconductor memory device testing revenue [2] - The net profit attributable to shareholders was 80,160,244.51 yuan, down 30.71%, primarily due to the rising proportion of semiconductor business revenue with lower gross margins and increased R&D investments [3] - The net profit excluding non-recurring gains and losses was 68,855,656.78 yuan, a decrease of 18.37%, indicating challenges in core business profitability due to market competition and changes in customer and product structures [4] - Basic earnings per share fell to 0.86 yuan, down 40.57% from 1.44 yuan in 2023, reflecting the impact of declining net profit on shareholder returns [5] - The diluted earnings per share, excluding non-recurring gains and losses, was 0.74 yuan, down 29.95%, indicating a need for improvement in core business operational efficiency [6] Expense Analysis - Sales expenses decreased by 16.00% to 41,396,263.36 yuan, attributed to management optimization and reduced marketing expenditures, reflecting effective cost control [7] - Management expenses increased by 20.14% to 39,248,754.17 yuan due to a rise in management personnel and salaries, necessitating attention to management efficiency [8] - Financial expenses were -7,365,700.56 yuan, primarily due to increased exchange losses from currency fluctuations, highlighting the need for better currency risk management [10] R&D Investment - R&D expenses rose significantly by 52.66% to 109,687,738.29 yuan, accounting for 13.66% of operating revenue, indicating a commitment to enhancing core competitiveness and technological innovation [11] - The number of R&D personnel increased to 278, representing 47.28% of total employees, with a focus on optimizing the structure to support technological advancements [12] - The company holds 413 intellectual property rights, including 84 invention patents, and has made progress in developing core testing equipment, positioning itself for future growth opportunities [13] Cash Flow Analysis - The net cash flow from operating activities turned positive at 14,564,741.84 yuan, compared to -13,548,051.46 yuan in 2023, indicating improved sales collection [14] - The net cash flow from investing activities was -156,425,766.07 yuan, a reduction from -441,303,456.06 yuan in 2023, reflecting better management of financial products [15] - The net cash flow from financing activities was -88,317,094.24 yuan, influenced by increased dividends and share buybacks, indicating a focus on shareholder returns while adjusting capital structure [16]