Summary by Futu AI
Suzhou Baker Microelectronics Co., Ltd. (“Baker Micro”) announces results for the year ended December 31, 2023. The report showed that the company's revenue increased 31.6% from RMB352.5 million in 2022 to RMB463.9 million in 2023, mainly due to strong growth in the launch of new industrial products and the demand for new energy applications. The cost of sales also increased by 35.0% and the gross margin decreased slightly. R&D expenses increased by 40.4%, indicating that the company continues to increase R&D investment. Year-on-year profit grew 14.6% to RMB109.2 million. The Board of Directors does not recommend the distribution of a final dividend. Baker Micro successfully listed on the main board of the Hong Kong Stock Exchange Limited on 28 December 2023 and maintained good corporate governance during the reporting period. In the future, the company will continue to strengthen technological innovation, expand product applications, and consolidate technological advantages through school and business partnerships to achieve continued rapid health development.