TECNON(300650)2025-04-23 11:30Financial Performance - The company's operating revenue for 2024 was ¥2,573,607,712.20, a decrease of 2.68% compared to ¥2,644,590,150.77 in 2023 [24]. - Net profit attributable to shareholders for 2024 was ¥51,162,221.07, representing a 19.44% increase from ¥42,834,849.71 in 2023 [24]. - The net cash flow from operating activities decreased by 37.19% to ¥385,652,465.67 in 2024 from ¥613,971,249.04 in 2023 [24]. - The basic earnings per share for 2024 was ¥0.23, up 9.52% from ¥0.21 in 2023 [24]. - Total assets at the end of 2024 were ¥2,074,711,882.42, a slight increase of 0.17% from ¥2,071,276,609.25 at the end of 2023 [24]. - The net assets attributable to shareholders increased by 4.32% to ¥1,246,000,643.55 at the end of 2024 from ¥1,194,395,239.72 at the end of 2023 [24]. - The total operating revenue for 2024 is approximately ¥2.57 billion, a decrease of 2.68% compared to ¥2.64 billion in 2023 [65]. - Semiconductor distribution revenue accounts for 83.17% of total revenue, amounting to approximately ¥2.14 billion, down 1.87% from ¥2.18 billion in 2023 [65]. - The LED industry revenue is approximately ¥422.63 million, representing 16.42% of total revenue, a decline of 7.16% from ¥455.24 million in 2023 [65]. - The commercial lighting segment reported total revenue of 44,380.59 million yuan, a decline of 5.87% year-on-year, due to intense market competition and aggressive pricing strategies [57]. Dividend Distribution - The company plans to distribute a cash dividend of 0.3 RMB per 10 shares to all shareholders, based on a total of 218,296,126 shares [6]. - The total expected cash dividends for the year 2024 are projected to be 10,914,806.30 CNY, maintaining a distribution ratio consistent with changes in total share capital due to various factors [156]. - The total cash dividend amount includes 6,548,883.78 yuan from regular dividends and 4,365,922.52 yuan from other methods such as share buybacks [153]. - For the full year 2024, the company intends to distribute a cash dividend of 0.30 CNY per 10 shares, amounting to 6,548,883.78 CNY, with no stock dividends or capital reserve transfers planned [155]. Business Operations and Strategy - The semiconductor distribution business is the main revenue source, with a focus on RF and communication devices, digital and analog devices, and applications in mobile and consumer electronics [33][34]. - The company is transitioning towards innovative technology enterprises while maintaining its commercial lighting business [33]. - The company aims to enhance its competitive advantage by leveraging the growth of domestic manufacturers in the semiconductor distribution market [35]. - The semiconductor distribution industry is experiencing a recovery phase after a destocking process in 2022 and 2023, driven by a rebound in consumer electronics demand and AI innovations [38]. - The company aims to enhance its supply chain capabilities by focusing on core electronic components and fostering collaboration between chip manufacturers and application enterprises [36]. - The company is positioned to benefit from the government's emphasis on developing a self-controlled industrial supply chain, particularly in key sectors like advanced materials and industrial software [37]. - The company is actively pursuing a specific stock issuance to strengthen its capital base, with plans to use the raised funds for working capital and bank loan repayment, enhancing its core competitiveness [109]. - The company is focusing on mergers and acquisitions to integrate resources in the semiconductor design and processing sectors, aiming for sustainable development and competitive strength [111]. Research and Development - Total R&D investment for 2024 was CNY 33,653,925.20, representing 1.31% of operating revenue, slightly up from 1.30% in 2023 [84]. - The number of R&D personnel increased to 129 in 2024, a rise of 2.38% from 126 in 2023, with a higher proportion of staff holding bachelor's degrees [84]. - The company has accumulated 206 valid patents in the field of commercial lighting solutions, reflecting its strength in R&D [62]. - The company is committed to strengthening R&D collaborations with upstream and downstream partners to enhance product and service quality [116]. Market Trends and Challenges - The semiconductor industry is characterized by cyclical trends influenced by economic conditions and technological advancements, impacting the company's performance [38]. - The automotive electronics market is expected to grow, with China's vehicle production and sales projected to reach 31.28 million and 31.44 million units in 2024, respectively, marking year-on-year increases of 3.7% and 4.5% [53]. - Global smartphone shipments are projected to reach 1.24 billion units in 2024, representing a year-on-year growth of 6.2%, although still at historically low levels [52]. - The company recognizes the growing importance of green and intelligent features in commercial lighting, aiming to innovate in energy-efficient lighting solutions [106]. Governance and Compliance - The company has established a comprehensive governance structure and internal control system in compliance with relevant laws and regulations [165]. - The company emphasizes the importance of employee development and career planning, aiming for a harmonious coexistence between individual and corporate growth [171]. - The company has implemented strict information disclosure practices, ensuring timely and accurate communication of important operational information to shareholders and investors [125]. - The company has established a value management system to enhance its market value and protect investor rights [118]. Employee Management - The total number of employees at the end of the reporting period is 645, with 330 in the parent company and 315 in major subsidiaries [149]. - The company has a total of 645 employees, including 255 production personnel, 163 sales personnel, 129 technical personnel, 29 financial personnel, and 69 administrative personnel [149]. - The company has implemented a competitive salary policy based on market conditions and company performance, including basic salary, position salary, performance salary, and bonuses [150]. - The company has established a comprehensive training system to enhance employee skills and career development, with annual training plans based on strategic needs [152]. Environmental Responsibility - The company emphasizes environmental protection and has not faced any major administrative penalties related to environmental issues during the reporting period [167]. - The company has implemented measures to reduce carbon emissions and enhance green practices in production [168]. - The establishment of a green factory has led to energy management system certification and improved energy efficiency [169]. - The company has invested in renewable energy sources, including a photovoltaic power station, to enhance energy savings [169].