KINGSEMI(688037)2025-04-25 15:43Financial Performance - The company's operating revenue for 2024 was CNY 1,753,605,965.73, representing a 2.13% increase compared to 2023[23]. - Net profit attributable to shareholders decreased by 19.08% year-on-year to CNY 202,811,998.36[23]. - The net profit after deducting non-recurring gains and losses fell by 60.83% to CNY 73,306,592.00[23]. - Basic and diluted earnings per share decreased by 44.51% to CNY 1.01[24]. - The company's net assets attributable to shareholders increased by 13.05% to CNY 2,691,127,435.30[23]. - The company received government subsidies amounting to CNY 137,146,557.16, significantly higher than the previous year's CNY 63,902,301.66[28]. - The company achieved a revenue of 1.754 billion yuan in the reporting period, representing a year-on-year growth of 2.13%[38]. - The net profit attributable to shareholders decreased by 19.08% to 203 million yuan, while the net profit excluding non-recurring items dropped by 60.83% to 73 million yuan due to increased R&D and personnel costs[38]. - The company achieved operating revenue of 1,753.61 million yuan, a year-on-year increase of 2.13%[126]. - The net profit attributable to shareholders decreased by 19.08% to 202.81 million yuan compared to the same period last year[126]. Research and Development - The R&D expenditure as a percentage of operating revenue increased by 5.40 percentage points to 16.92%[24]. - R&D expenses reached 297 million yuan, a significant increase of 49.93% year-on-year, reflecting the company's commitment to enhancing product competitiveness[38]. - The company plans to continue increasing its R&D investment to support future growth despite the current profit decline[25]. - R&D expenses increased by 49.93% to CNY 296.65 million, driven by continuous investment in research and development[127][128]. - R&D expenditure for the reporting period was ¥297,000,000, accounting for 16.92% of total revenue[108]. - The company has a strong focus on innovation, with a total of 428 patents granted, including 67 new patents during the reporting period[96]. - R&D expenses have consistently remained above 10% of revenue, with a five-year average annual growth rate exceeding 50%, reflecting the company's commitment to innovation[171]. Market Position and Strategy - The company signed new orders totaling approximately 2.4 billion yuan, a year-on-year increase of about 10%, with strong performance in various product segments[39]. - The domestic semiconductor equipment market is projected to reach a record 49.5 billion dollars in 2024, with a year-on-year growth of 35.25%[36]. - The global semiconductor manufacturing equipment shipment value is expected to reach 117.1 billion dollars in 2024, a 10% increase from 2023[35]. - The company is focusing on the domestic semiconductor equipment market, aiming to accelerate the localization of high-end coating and developing equipment[82]. - The company is exploring partnerships with other tech firms to enhance its product ecosystem, aiming for a 15% increase in collaborative projects[188]. - The company is expanding its market presence in Asia, targeting a 20% increase in market share by the end of the fiscal year[188]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $200 million allocated for potential deals[187]. Governance and Compliance - The company has received a standard unqualified audit report from the accounting firm[5]. - The company has not reported any governance special arrangements or important matters[8]. - The company has not reported any instances where more than half of the directors could not guarantee the authenticity of the annual report[12]. - The company has received an A-level rating for information disclosure from the Shanghai Stock Exchange for two consecutive years, indicating strong governance practices[180]. - The board of directors has established specialized committees to provide professional advice for major decisions, enhancing governance structure[180]. - The board approved the 2023 annual financial report and summary, indicating a focus on transparency and accountability[198]. Operational Efficiency - The net cash flow from operating activities turned positive, increasing by CNY 1,004,866,100.00 compared to the previous year[25]. - The net cash flow from operating activities improved significantly to CNY 441.81 million, compared to a negative cash flow of CNY -562.88 million in the previous year[127][128]. - The company is implementing a comprehensive cost reduction and efficiency enhancement plan, focusing on key operational metrics such as new orders, production shipments, contract acceptance, sales collections, and expense control[174]. - The company aims to enhance its operational efficiency through digitalization and lean management practices[174]. Employee and Management Changes - The total number of shares held by senior management increased from 4,192,253 to 5,831,106, representing a change of 1,638,853 shares during the reporting period[183]. - The total pre-tax remuneration for senior management during the reporting period amounted to CNY 2,842.06 million[184]. - The company plans to extend the terms of the current board and supervisory committee to ensure continuity and stability[185]. - The company disclosed the resignation of independent directors Zhu Yu and Song Lei due to the completion of their six-year term[185]. - The company is actively preparing for the election of a new board and supervisory committee[185]. Product Development and Innovation - The company launched the KS-CM300/200 front-end chemical cleaning machine in March 2024, achieving over 80% process coverage and meeting advanced process cleanliness standards[45]. - The company has developed advanced technologies for various equipment, achieving international advanced levels in multiple categories, including coating and developing technology for 28nm and above technology nodes[92]. - The company has successfully launched multiple models of coating and developing machines, capturing a significant market share in the domestic front-end coating and developing machine market, which is still highly dominated by foreign manufacturers[166]. - The company introduced a new single-wafer chemical cleaning machine in March 2024, achieving over 80% process coverage and breaking foreign monopolies, significantly expanding the domestic market space for its front-end products from 10 billion RMB to 20 billion RMB[168].