“Science and Technology Innovation Board Daily”, April 26 (Reporter Guo Hui) XinDao Technology released its financial report for the first quarter of 2024 yesterday evening (April 25). According to the data, the company achieved revenue of 68.69 million yuan in the first quarter of this year, an increase of 26.98% over the previous year, and realized net profit of 24.46 million yuan to mother, an increase of 53.67% over the previous year.

XinDao Technology said that with the gradual recovery of downstream demand for consumer electronics products, etc., and active investment on the sales side, the company's revenue increased year-on-year; at the same time, the company actively promoted product updates and iterations, strengthened supply chain cooperation and development, and overall gross margin increased.

It is worth noting that XinDao Technology's net profit deducted from mother for the first quarter of this year was 10.56 million yuan, a year-on-year increase of 363.75%.

As can be seen from the detailed dismantling of the quarterly report, in addition to government subsidies, the most important part of the non-recurring profit and loss project is the profit and loss of assets entrusted by XinDao Technology to invest or manage assets. In the first quarter alone, it reached 12.86 million yuan, accounting for about half of the net profit scale.

In 2023, the profit and loss of the investment commissioned by XinDao Technology reached 53.19 million yuan, accounting for 55% of the company's net profit to mother for the whole year.

Core Technology landed on the Science and Technology Innovation Board in December 2021. On the first day of listing, the company's stock price increased by more than 40%, and the total market value reached 11.4 billion yuan. The company surpassed the original fund-raising plan by 1.4 billion yuan. Based on the company's founder, Ou Xinhua, holding 70.1% of the company's shares, the market value of his personal holdings reached 7.99 billion yuan on the first day of listing.

However, as of the evening of April 25, XinDao Technology released its 2024 quarterly report, the company's market value had shrunk by a full 70%, and the company's stock price had broken for a long time.

However, with excess capital raised at the time of listing, as well as some idle fund-raising funds, and the company's idle own funds, Cindao Technology, which makes good use of cash management tools, two years after listing, it has already reaped another stable source of cash in addition to the main business revenue.

According to Wind statistics, XinDao Technology ranked third among all science and technology innovation board companies in terms of the profit and loss scale of commissioned investment in 2023. The first two companies were China Control Technology and Hengxuan Technology, respectively, with commissioned investment income of 94.84 million yuan and 74.21 million yuan respectively. Hengxuan Technology's commissioned investment profit and loss accounted for 60% of net profit last year. The company also received as much as 2.7 billion yuan of overfunded capital at the beginning of its listing.

Core Technology's main business is power semiconductors. According to the annual report, in 2023, the company formed long-term and stable cooperative relationships with mobile phone brand customers such as Xiaomi Communications, TCL, and Voice, as well as well-known ODM mobile phone manufacturers such as Huaqin, Wingtai, and Longqi. At the same time, its products were successfully used in various TWS headsets from brands such as Xiaomi, Huawei, OPPO, VIVO, Harman, etc., as well as smart wearable products for customers such as Magic.

In addition, XinDao Technology also achieved breakthroughs in a number of terminal brand customers last year, such as adding a world-renowned customer in the VR field, e-cigarette customer Xing Zewei, power management customer Tianbao, and ETC customer Jin Yi.

When surveyed by the agency in December of last year, XinDao Technology said that currently, judging from the company's order situation, revenue situation and terminal inventory situation, the market situation has improved since the third quarter of 2023, and the prosperity needs to be continued to be observed.

Regarding future performance growth points, XinDao Technology said that on the one hand, it will continue to maintain steady growth based on ESD and TVS products, and will use MOS and power IC products as important growth points to effectively combine power devices with power IC products to provide specific competitive overall solutions. On the other hand, the expansion of new application fields is also a driving force for the company's future growth, and the company is also actively expanding application fields such as industrial power supplies, automotive electronics, and photovoltaic energy storage.

For the full year of 2023, XinDao Technology achieved operating income of 320 million yuan, a year-on-year decrease of 4.68%; net profit to mother was 96.4877 million yuan, a year-on-year decrease of 19.23%; net profit after deducting non-return to mother was 43.575,500 yuan, a year-on-year decrease of 33.39%; and basic earnings per share were 0.82 yuan/share.

According to the 2023 profit distribution plan announced by XinDao Technology, the company plans to distribute a cash dividend of 6 yuan (tax included) for every 10 shares to all shareholders. As of December 31, 2023, the company's total share capital is 117.6 million shares. Based on this calculation, it is proposed to distribute a total cash dividend of 70.56 million yuan (tax included). The total amount of cash dividends this year accounts for 73.13% of the net profit to the mother in 2023. It is worth noting that Ou Xinhua, the actual controller and chairman of the company, has a direct and indirect shareholding ratio as high as 70%, which will undoubtedly be the biggest beneficiary of these high dividends.