Shanghai Fudan Microelectronics Group Company (1385) Q4 2024 earnings summary

Executive summary

• Achieved revenue of RMB3,590 million in 2024, a slight increase year-over-year; net profit attributable to shareholders was RMB573 million, down 20.42% from last year; gross profit margin was 55.95%.

• The semiconductor industry showed signs of stabilization despite ongoing supply chain and demand fluctuations.

• Major product lines: security and identification chips, non-volatile memory, smart meter chips, FPGA, and IC testing services.

• R&D investment remained strong at RMB1,142 million, focusing on next-generation FPGA, SoC, storage, security controllers, and IoT chips.

• Proposed cash dividend of RMB0.8 per 10 shares, totaling RMB65.7 million, pending shareholder approval.

Financial highlights

• Revenue: RMB3,590 million, up slightly year-over-year.

• Net profit attributable to shareholders: RMB573 million, down 20.42% year-over-year.

• Gross profit margin: 55.95%, down 5.26 percentage points from last year.

• Net assets: RMB6,544 million, up 9.77% from 2023.

• Earnings per share: RMB0.70 (basic and diluted).

• Net cash flows from operating activities: RMB732 million (positive turnaround from previous year).

Outlook and guidance

• Plans to accelerate expansion in automotive-grade chips, intelligent driving, and IoT.

• Continued focus on R&D, green technologies, and low-carbon operations.

• Will pursue further market share growth and profitability through refined management and efficient operations.

• Applying for up to RMB2 billion in convertible bonds to fund core business projects.