In 2024, Jinchengzi achieved a revenue of 0.212 billion yuan, a year-on-year decrease of 3.44%, and a net income attributable to the parent company of 0.03 billion yuan, down 27.78% year-on-year. The company continues to increase its investment in research and development, with R&D expenses rising by 11.31% year-on-year, while actively expanding into emerging fields such as high-precision digital mirrors and laser flexible manufacturing platforms.
On April 18, the "Star Daily" reported that the 2024 Earnings Reports disclosed by Jinchengzi showed a revenue of 0.212 billion yuan, a year-on-year decrease of 3.44%, and a net income attributable to the parent company of 0.03 billion yuan, a year-on-year decrease of 27.78%; the net income after deducting non-recurring gains and losses was 0.02 billion yuan, a year-on-year decrease of 28.22%. The performance was impacted by the macroeconomic environment, intensified market competition, and reduced government subsidies.
In the fourth quarter, Jinchengzi achieved a revenue of 0.052 billion yuan, with a net income attributable to shareholders of 0.003 billion yuan, and a net income excluding non-recurring items of 0 million yuan. Despite maintaining a certain revenue scale at the end of the year, profitability still faced significant pressure.
During the reporting period, non-recurring gains and losses accounted for 33.44% of Jinchengzi's total, mainly sourced from government subsidies included in the current profits and losses of 9.7708 million yuan and gains from the fair value change of financial assets of 10.9471 million yuan. These two non-recurring items had a significant impact on the company's profit, with government subsidies decreasing compared to the previous year, while financial asset income increased.
The net cash flow from operating activities was 0.022 billion yuan, a year-on-year increase of 4.98%. This growth was mainly due to Jinchengzi strengthening its supplier management system, adopting more bill accepting payment methods, thereby reducing cash payments for purchasing commodities and receiving services. Additionally, Jinchengzi effectively controlled operating costs by optimizing internal management processes.
From the perspective of core Business, the laser processing Control System remains the main source of revenue for Jinchengzi, achieving a revenue of 0.148 billion yuan, a year-on-year decrease of 2.13%, with a gross margin of 69.97%, a decrease of 1.39 percentage points compared to the previous year. The decline in product revenue was mainly affected by fluctuating market demand, while the decrease in gross margin was due to intensified market competition and rising raw material costs. Laser system integration Hardware achieved a revenue of 0.043 billion yuan, a year-on-year increase of 8.72%, with a gross margin of 20.81%, a slight increase of 0.25 percentage points year-on-year. The growth of this Business reflects Jinchengzi's technological breakthroughs and market expansion achievements in the field of high-precision galvanometers, but low gross margin limited its contribution to overall profitability.
By region, the domestic market achieved a revenue of 0.167 billion yuan, a year-on-year decrease of 0.92%, with a gross margin of 59.72%, a decrease of 3.32 percentage points year-on-year; the foreign market achieved a revenue of 0.043 billion yuan, a year-on-year decrease of 8.92%, with a gross margin of 44.78%, a decrease of 0.36 percentage points year-on-year. The relative stability of the domestic market is attributed to Jinchengzi's continued efforts in fields such as New energy Fund batteries and Consumer Electronics, while the foreign market declined due to increasing uncertainties in the international economic environment.
In 2024, Jinchengzi invested 0.061 billion yuan in R&D, an increase of 11.31% year-on-year, accounting for 28.55% of revenue, an increase of 3.78 percentage points compared to the previous year. The R&D investment was mainly used in the areas of the next-generation Control System platform, high-precision digital galvanometers, and laser servo Control Systems. The number of R&D personnel reached 164, accounting for 44.44% of the total employees, with an average salary of 0.2878 million yuan, an increase of 1.38% year-on-year.
According to the Star Daily, during the reporting period, Jin Chengzi added 12 invention patents, holding a total of 42 invention patents, 35 utility model patents, and 1 design patent, further consolidating the company's technological advantages in the field of laser processing control.
Currently, the Industrial laser processing Industry is in a phase of rapid development, with micro-nano processing and macro processing becoming two major development directions. The micro-nano processing field benefits from the technological advancements of ultrafast lasers such as picosecond and femtosecond lasers, and its application range is continuously expanding; the macro processing field, on the other hand, is seeing sustained market demand growth as domestic high-power laser technology matures. However, industry competition is becoming increasingly fierce, especially in the mid-to-high-end market, where international manufacturers such as Germany's Scanlab still hold certain advantages in specific performance indicators.
Jin Chengzi maintains a leading position in the domestic laser processing control system field, with its galvanometer control system products already showing significant advantages in key performance indicators, and gradually expanding into high-end application fields such as Semiconductors and New energy Fund. During the reporting period, it achieved important progress in high-precision digital galvanometers and laser flexible manufacturing platforms through technological research and development as well as market expansion, but its market share still needs further improvement to cope with the pressure from international competitors.
Regarding the progress of Jin Chengzi's fundraising projects, the "Laser Flexible Precision Manufacturing Control Platform R&D and Industrialization Construction Project" has accumulated an investment of 0.091 billion yuan, completing 55.62% of the planned progress; the "High-Precision Digital Galvanometer System Project" has accumulated an investment of 0.067 billion yuan, completing 50.87% of the planned progress; and the "Marketing and Technical Support Network Construction Project" has accumulated an investment of 0.002 billion yuan, completing 3.23% of the planned progress.
