Core Insights - Chipsea Technology (688595.SH) reported a revenue of 374 million yuan for the first half of 2024, marking a year-on-year increase of 6.80% [1][2] - The net profit attributable to shareholders was -38.83 million yuan, an improvement from -56.82 million yuan in the same period last year [1][2] - The company experienced a negative cash flow from operating activities of -24.19 million yuan, compared to -80.46 million yuan in the previous year [2] Financial Performance - Revenue for the first half of 2024: 374 million yuan, up 6.80% from 350 million yuan in the previous year [2] - Total profit for the period: -46.75 million yuan, an improvement from -62.99 million yuan year-on-year [2] - Net profit attributable to shareholders: -38.83 million yuan, improved from -56.82 million yuan [2] - Net profit excluding non-recurring gains and losses: -39.63 million yuan, improved from -60.84 million yuan [2] - Cash flow from operating activities: -24.19 million yuan, improved from -80.46 million yuan [2] Historical Performance - In 2022 and 2023, the net profit attributable to shareholders was 0.03 million yuan and -14.3 million yuan, respectively [3] - The net profit excluding non-recurring gains and losses for the same years was -4 million yuan and -15.7 million yuan [3] Capital Raising and Stock Issuance - Chipsea Technology raised a total of 571 million yuan through its initial public offering, with a net amount of 494 million yuan after expenses [3] - The company issued convertible bonds in 2022, raising 410 million yuan [4] - The total fundraising from both IPO and bond issuance amounted to 981 million yuan [4] Future Plans - The company is planning to issue H-shares and list on the Hong Kong Stock Exchange, with discussions ongoing with relevant intermediaries [5]

Core Viewpoint - Chipsea Technology (688595.SH) is planning to issue H-shares and apply for listing on the Hong Kong Stock Exchange, with details yet to be finalized [1] Group 1: H-share Issuance and Listing - The company is currently discussing the issuance of H-shares with relevant intermediaries, and the specifics of the issuance and listing are not yet determined [1] - The issuance of H-shares and listing will not change the company's controlling shareholder or actual controller [1] - Approval from the board of directors, shareholders' meeting, and regulatory bodies such as the China Securities Regulatory Commission and the Hong Kong Stock Exchange is required for the issuance to proceed [1] Group 2: Previous Fundraising Activities - Chipsea Technology raised a total of 571 million yuan from its initial public offering, with a net amount of 494 million yuan after deducting issuance costs [2] - The company planned to raise 545 million yuan for various projects, including high-performance MCU chip upgrades and smart health SoC chip upgrades [2] - The total amount raised from two fundraising activities amounts to 981 million yuan [3] Group 3: Shareholder Actions - In 2024, a significant shareholder, Yancheng Xinlian Zhihui Enterprise Consulting Partnership, reduced its stake from 16.26% to 14.26% through a share transfer, while the controlling shareholder's stake decreased from 44.24% to 42.24% [4] - The share transfer did not involve the controlling shareholder, ensuring no change in control [4]

Core Points - The company achieved a revenue of 702 million yuan in 2024, representing a year-on-year growth of 62.22% [1][2] - The net profit attributable to shareholders was -173 million yuan, and the net profit after deducting non-recurring gains and losses was -182 million yuan [1][2] - The net cash flow from operating activities was -97 million yuan, compared to 15 million yuan in the same period last year [1][2] Financial Performance - Revenue for 2024 was 702 million yuan, up from 433 million yuan in 2023, marking a 62.22% increase [2] - The net profit attributable to shareholders in 2023 was -143 million yuan, and in 2022 it was 3 million yuan [1][2] - The net profit after deducting non-recurring gains and losses was -157 million yuan in 2023 and -40 million yuan in 2022 [1][2] - The company plans not to distribute profits for 2024, with no cash dividends or stock bonuses [2] Capital Raising Activities - The company was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on September 28, 2020, with an initial public offering (IPO) raising 571 million yuan [3] - The net amount raised after deducting issuance costs was 494 million yuan, which was 50.65 million yuan less than originally planned [3] - The company issued convertible bonds in 2022, raising a total of 410 million yuan [4][5]

Financial Performance - In 2024, the company achieved operating revenue of 702.31 million yuan, a year-on-year increase of 62.22% compared to 432.95 million yuan in 2023 [1][2] - The net profit attributable to shareholders was -172.87 million yuan in 2024, compared to -143.45 million yuan in 2023 [1][2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -182.05 million yuan in 2024, compared to -157.16 million yuan in 2023 [1][2] - The net cash flow from operating activities was -96.81 million yuan in 2024, a significant decline from 14.86 million yuan in 2023 [1][2] Dividend Policy - The company plans not to distribute profits for the 2024 fiscal year, which includes no cash dividends, no bonus shares, and no capital reserve transfers to increase share capital [1] Fundraising Activities - The total amount raised from the initial public offering (IPO) was 571 million yuan, with a net amount of 494 million yuan after deducting issuance costs [3] - The company initially planned to raise 545 million yuan for various chip upgrade and industrialization projects [3] - In 2022, the company issued convertible bonds totaling 410 million yuan, with a face value of 100 yuan per bond [3][4]