Shanghai New Vision Microelectronics (SH:688593)2024-05-16 07:34Group 1: Company Performance - In 2023, the company faced challenges due to macroeconomic factors and a downturn in the semiconductor cycle, leading to a decline in gross profit margin [1] - The comprehensive gross profit margin for 2023 was 21%, with expectations for recovery in 2024 as inventory improves and consumer electronics demand rebounds [2] - The company reported a net profit impact of -12.65 million due to a decrease in the fair value of financial assets and increased R&D expenses [2] Group 2: Market Outlook - Despite challenges in 2023, the display industry is expected to show strong growth potential in the long term, driven by market recovery and technological advancements [2] - The company maintains a cautiously optimistic view on industry trends for 2024, anticipating a recovery in product prices alongside improvements in downstream panel prices [2] Group 3: R&D and Product Development - The company has received a total of 20 patents, including 16 invention patents, and holds 16 core technologies across its product range [3] - Ongoing R&D projects include various display driver chips and technologies aimed at enhancing product performance and reliability [2][3] Group 4: Shareholder Returns - The company plans to distribute a cash dividend of 0.39 yuan per 10 shares, totaling 17.90 million yuan, which represents 65.01% of the net profit attributable to shareholders [2] - The implementation of the dividend plan is subject to approval at the annual shareholders' meeting [2] Group 5: Future Strategy - The company aims to enhance its product offerings in TFT-LCD, AMOLED, and new display technologies, focusing on import substitution and market adaptation [3] - A stock incentive plan is in place to attract and retain talent, with 43 individuals targeted for the initial grant [3]