Motorcomm Electronic Technology (688515)2024-07-31 07:36Financial Performance - In Q1 2024, the company achieved operating revenue of 72.53 million yuan, a year-on-year increase of 35.81% [1] - The net profit attributable to shareholders was -54.15 million yuan, and the net profit excluding non-recurring gains and losses was -62.65 million yuan, primarily due to increased R&D investment and market expansion costs [1] - The company anticipates continued losses in 2024 due to sustained high R&D expenditures, with some projects expected to yield benefits in 2-3 years [2] R&D and Product Development - The company plans to maintain high levels of R&D investment, focusing on expanding product lines in Ethernet physical layer chips and related technologies [1][2] - The introduction of seven new products over the past two years is expected to significantly contribute to revenue growth in 2024 [3] - As of 2023, the company applied for 125 invention patents and received authorization for 23, indicating a strong commitment to innovation [2] Market Outlook - The overall revenue for 2024 is projected to increase as market demand gradually recovers, although short-term revenue may not cover R&D investments [2] - The company aims to enhance its domestic market share through product diversification and expansion into new application areas [2] Patent and Technology Development - In 2023, the number of patents in mainland China reached 38,686, reflecting a 1.6% year-on-year growth, indicating a robust patent landscape in the semiconductor industry [2] - The company has developed a range of proprietary technologies for its Ethernet physical layer chips, including high-speed DSP technology and various advanced functionalities [3] Corporate Governance - The company has implemented reforms to its independent director system, ensuring that independent directors are well-informed about the company's operations through regular meetings and reports [3]