Anji Microelectronics Technology (Shanghai) (688019) Q4 2024 earnings summary

Executive summary

• Achieved revenue of RMB 1.84 billion in 2024, up 48.24% year-over-year, with net profit attributable to shareholders of RMB 533.64 million, up 32.51% year-over-year.

• Gross margin improved to 58.45%, with significant growth in both chemical mechanical polishing (CMP) slurries and functional wet electronic chemicals.

• R&D investment reached RMB 332.77 million, accounting for 18.13% of revenue, supporting product innovation and market expansion.

• Completed the first five-year plan post-listing, with a compound annual revenue growth rate of 45.09% from 2019 to 2024.

Financial highlights

• Revenue: RMB 1.84 billion, up 48.24% year-over-year; net profit: RMB 533.64 million, up 32.51%.

• Operating cash flow: RMB 493.21 million, up 46.69% year-over-year.

• Gross margin: 58.45%, up 2.64 percentage points; basic EPS: RMB 4.14, up 31.43%.

• Net assets: RMB 2.70 billion, up 27.16%; total assets: RMB 3.45 billion, up 32.59%.

• R&D expenses increased 40.64% year-over-year; R&D headcount reached 307, 50.66% of total staff.

Outlook and guidance

• Plans to continue expanding market share in China and overseas, leveraging strong R&D and customer relationships.

• Will pursue further production capacity expansion and potential M&A to extend the semiconductor materials value chain.

• 2025 plan includes strengthening safety, compliance, and ESG initiatives, and exploring new growth opportunities.