Shanghai Fudan (01385) announced results for the year ended December 31, 2023, with operating income of 35.36...
According to the Zhitong Finance App, Shanghai Fudan (01385) announced results for the year ended December 31, 2023, with operating income of 3,536 billion yuan (RMB, same below), which was basically the same; net profit attributable to shareholders of the parent company was 719 million yuan, a year-on-year decrease of 33.18%; and basic income per share was 0.88 yuan. The company plans to distribute a cash dividend of 1.00 yuan (tax included) to all shareholders for every 10 common shares.
As of December 31, 2023, the total assets of the Group were approximately RMB 8.411 billion, up 37.65% year on year; net assets attributable to shareholders of the parent company were approximately RMB 5.303 billion, up 17.03% year on year. The growth in the above main accounting data and financial indicators was mainly due to the following factors:
(1) Affected by factors such as structural reduction in production capacity and digestion of early inventory, demand for some chips represented by consumer electronics products showed a downward trend, which had a significant impact on sales of some of the Group's products used in the consumer electronics, power electronics and other industries. Although related product lines actively adopted countermeasures such as launching new products and developing new customers, the pressure was still high during the reporting period, and revenue declined markedly. The Group's FPGAs and some non-volatile memories used in high-reliability scenarios benefited from advanced and reliable technology, continuous expansion in application fields and steady growth in demand from major customers. Revenue from related products maintained steady growth, contributing greatly to the Group's performance during the reporting period. During the reporting period, the Group's operating income was basically the same year on year;
(2) The overall gross margin of the product was affected by the prices of some product lines, down 3.46 percentage points from the previous year;
(3) The Group has always maintained strong investment in R&D. Due to product iteration and product lineage expansion, the strengthening of product research and development based on diversified supplier processes, and a large increase in the number of R&D personnel, R&D expenses increased by about 37.42% over the same period last year, mainly due to increases in employee remuneration, materials and processing and testing costs, depreciation and amortization of R&D projects.