Core Viewpoint - The company reported a mixed financial performance for 2024, with revenue growth but a significant decline in net profit, while also achieving substantial growth in cash flow and chip sales [1][2]. Financial Performance - The company achieved an operating revenue of 1.343 billion yuan, representing a year-on-year growth of 3.32% [1]. - The net profit attributable to shareholders was 134 million yuan, showing a year-on-year decline of 28.01% [1]. - The net profit excluding non-recurring items was 131 million yuan, reflecting a year-on-year increase of 26.61% [1]. - The net cash flow from operating activities reached 183 million yuan, marking a significant year-on-year increase of 717.77% [1]. Chip Sales and Market Position - The company sold 885 million chips, which is an increase of nearly 9% year-on-year [1]. - The growth in chip sales was driven by low initial customer inventories, recovery in the export market, and favorable national consumption stimulus policies [1]. - The company expanded its overseas market presence, adding new customers in Europe and Japan, thereby strengthening its global market position [1]. Product Development - The company made significant progress in key product areas, developing multiple 32-bit Cortex M0+ products for the home appliance market [1]. - A new single-chip solution for variable frequency air conditioning with dual motors and high-frequency PFC control has begun customer engineering samples, with mass production expected by the end of 2025 [1]. - Wi-Fi/BLE Combo MCU products have been partially designed into customer projects, with mass production anticipated in 2025 [1]. - Two AMOLED display driver chips have passed verification by panel manufacturers and are being promoted for verification in brand mobile applications, with potential mass production in the second half of 2025 [1]. R&D Investment - The company maintained a high level of R&D investment, with annual R&D expenses reaching 300 million yuan, accounting for 22.35% of operating revenue [2]. - The company has deepened its technological innovation in smart home appliance chips, variable frequency motor control, battery management chips, OLED display driver chips, and automotive electronics [2]. - As of the end of the reporting period, the company and its subsidiaries had obtained a total of 135 domestic and international authorized patents, including 133 invention patents [2]. - The company added 9 new patent authorizations during the reporting period, demonstrating its ongoing innovation capabilities in technology R&D [2].