[年报]圣晖集成(603163):圣晖集成2024年年度报告（英文版)
原标题:圣晖集成:圣晖集成2024年年度报告（英文版) I. Theboardofdirectors,boardofsupervisors,directors,supervisorsandseniormanagersoftheCompanyherebyguaranteethecontentscontainedintheannualreport(hereinafterreferredtoas“thisReport”)aretrue,accurate,intactandfreeofanyfalserecords,misleadingstatementsormajoromissions;otherwise,theyshallbeartheindividualandjointlegalliabilitiesarisingtherefrom. II. AlldirectorsoftheCompanyattendedtheboardmeeting. III. ShineWingCertifiedPublicAccountantsLLP(specialgeneralpartnership)hasissuedastandardunqualifiedauditreportfortheCompany. IV. LiangJinli,thedirectoroftheCompany,ChenZhihao,thepersoninchargeofaccounting,andXiaoJingxia,thedirectorofaccountingfirm(accountingdirector)herebydeclarethat thefinancialstatementssetoutinthisReportaretrue,accurateandintact.V. Proposalsforprofitdistributionorconversionofprovidentfundtocapitalstockwithinthereportingperiodratifiedintheformofboardresolution Throughmeticulousstudy,theboardofdirectorsoftheCompanyproposedtodistributeacashdividendofRMB7.5(includingtax)forevery10sharestoallshareholdersonthebasisofthetotalsharecapitalof100,000,000sharesattheendof2024,withatotalbonusamountofRMB75million(includingtax);thestockwasneitherdonatednortransferredtocapital.Therestundistributedprofitswerecarriedforwardfordistributioninthesubsequentyears. VI. RiskDisclosureofForward-LookingStatements √Applicable□N/A Theforward-lookingstatementsinthisReport,includingthefutureplans,developmentstrategies,etc.donotconstitutetheCompany’ssubstantialcommitmentstoinvestors,whoarekindlyremindedoftheinvestmentrisks. VII.Whetherthereisnon-operationalappropriationoffundsbycontrolledshareholdersandotherrelatedparties No VIII. Whether there is any violation of the required decision-making procedures for theprovisionofexternalguarantees No IX. Whethermorethanhalfofthetotaldirectorsareunabletoguaranteethetruthfulness,accuracyandintactnessoftheannualreportdisclosedbytheCompany No X. SignificantRiskWarning TheCompanyhaselaboratedthepossiblerelevantrisksinthisReport.Fordetails,pleaserefertothepossiblerisksmentionedin“(IV)PossibleRisksinVI.DiscussionandAnalysisoftheCompany’sFutureDevelopmentofSectionIII:ManagementDiscussionandAnalysis”.XI. Others □Applicable√N/A TableofContents SectionI Definitions............................................................................................................................5 SectionII CompanyProfileandKeyFinancialIndicators..............................................................7 SectionIII ManagementDiscussionandAnalysis............................................................................12 SectionIV CorporateGovernance.....................................................................................................42 SectionV EnvironmentalandCorporateSocialResponsibility...................................................61 SectionVI MilestoneEvents...............................................................................................................64 SectionVII ChangesinSharesandInformationaboutShareholders............................................88 SectionVIII PreferredStock.................................................................................................................94 SectionIX RelevantInformationofBonds.......................................................................................94 SectionX FinancialStatements........................................................................................................94
I.Definitions InthisReport,unlessthecontextotherwiserequires,thefollowingtermsshallhavethemeaningssetout
I. CompanyInformation
□Applicable√N/A VIII. DifferencesinAccountingDataunderDomesticandOverseasAccountingStandards(I) DifferenceinnetprofitandnetassetsattributabletoshareholdersofthelistedcompanybetweenthefinancialreportsdisclosedinaccordancewithinternationalaccountingstandardsandthosedisclosedinaccordancewithChinaaccountingstandards □Applicable√N/A (II) DifferenceinnetprofitandnetassetsattributabletoshareholdersofthelistedcompanybetweenthefinancialreportsdisclosedinaccordancewithoverseasaccountingstandardsandthosedisclosedinaccordancewithChinaaccountingstandards □Applicable√N/A (III)ExplanationfortheDifferencesbetweenDomesticandOverseasAccountingStandards:□Applicable√N/A IX. KeyFinancialDataof2024byQuarter
X. Non-recurringProfitandLossandAmount √Applicable□N/A
□Applicable√N/A XI. ItemsMeasuredatFairValue √Applicable□N/A
□Applicable√N/A SectionIII ManagementDiscussionandAnalysis I. DiscussionandAnalysisofOperatingConditions In2024,China'sdomesticeconomycontinuedtorecovermoderately.However,thegrowthspeedofinvestmentonChina’smanufacturingindustrywasaffectedgenerallybythefluctuationoftheglobalsupplychain,geopoliticalconflicts,andinsufficientdomesticdemand.Intermsofdomesticmarket,someclientsfromdownstreamwerelesswillingtomakeinvestmentorpostponedtheirexpansionplans.Inconsiderationoftheinfluentialfactorssuchasthestagnantconstructionindustryandfiercerpricewarascribedtotheintensifiedhomogenizedcompetition,theCompany'sdomesticmainoperatingrevenuein2024decreasedby15.45%YoY.Underthecontextofrebuildingtheglobalindustrychain,SoutheastAsia'semergingmarketsattractedmoreinvestmentsfromthesemiconductorsectorconstantly.CountriessuchasMalaysia,Vietnam,andSingaporehadformedcertainindustrialclustereffect.However,thankstothesignificantachievementsoftheCompany'sforward-lookingstrategiclayoutinSoutheastAsia,theCompany’soverseasmainoperatingrevenueincreasedby55.39%YoYin2024,becomingakeypillaroftheGroup'ssecondgrowthcurve. Theengineeringindustrymarketisfullofchanges.Onlybycomplyingwiththelatestmarkettrendsandexpandingthedevelopmentpotentialofengineeringundertaking,cantheindustrysurviveandevengrowquicklyunderthemarketmechanismofselectingthesuperiorandeliminatingtheinferior.InconsiderationofthefiercercompetitioninChina'sengineeringsector,economicscale,operationalefficiency, and integrated services play a decisive role in the success ofthis sector. A completeengineering framework and specialized technologies are the fundamental way to expand thedevelopmentpotentialofengineeringbusinessandfosterafavorableecosystem.Accordingtothepresentcompetitivepatternoftheengineeringindustry,theabilitytograsptheinformationaboutmaterialsuppliesquicklyandtorenderadvancedengineeringservicesforclientsquicklyarecriticaltooccupyingaleadingstatusintheindustry.Afterimprovingtheefficiencyofprojectsintheentireprocesssystematically,optimizingthecontroloversupplychainprocurementcycleandimplementingmodular production systems, the Company’s management team has cultivated the capacities ofimplementinglarge-to-mediumcleanroomandelectromechanicalengineeringprojectscomprehensivelyandprecisely.Byleveragingtheadvantagesofresourceintegrationinthewholeindustrychain,theCompanyhasformedanengineeringclosedloopwhichrangesfromdesigndeepening,prefabricationtoon-siteassembly,thusensuringthatclientsinmultiplefieldscanreceiveefficientresponseandqualityassurance in clean space construction and electromechanical system integration, and enabling theCompanytocontinuouslyfulfilltheperformancecommitmentsofkeyprojectnodes.In2024,theCompany'smanagementupheldthebusinessphilosophyof“stableoperation”ingoodfaith,andfocusedontheCompany’scoremainbusinesscontinuously.Inthefaceofthecomplex,changeablemarketenvironment,theCompanyalwaysmaintaineditsstrategicstrength,andeffectivelyavoidedmarketrisksbyaccuratelycontrollingthedevelopmentpace.Asaresult,theCompany’srevenuescalein2024wasbasicallythesameasthatinthesameperiodoflastyear,layingasolid foundationforitslong-termdevelopment. II. SituationoftheCompany’sIndustrywithintheReportingPeriod (I)BasicOverviewoftheIndustrywithintheReportingPeriod TheCompany’scleanroomengineeringservicebelongstothebuildinginstallationindustry.From theperspectiveoftheindustrychain,thecleanroomindustrycanbefurtherdividedintosupplyin upstream,constructioninmidstreamandapplicationindownstream.Tobespecific, Upstreamindustryinvolvesthesuppliersofrawmaterialsandequipmentsuchasbuildingmaterials, systemequipment,andelectromechanicalequipment,andexertsdirectinfluenceontheprogressand completionofprojects.Theirpricesaffecttheindustry’scostsdirectlyandtheprofitsofindustry enterprisessignificantly. The Company’s industry belongs to midstream, which mainly includes engineering service companiesspecializedinengineeringsurvey,engineeringdesign,andengineeringconstruction. Downstreamcovertheindustrieswherecleanroomsarerequiredforproductionoroperation.The majordownstreamindustriesofcleanroomengineeringincludeICsemiconductorindustry,precision manufacturingandphotoelectricity,whosedevelopmentsignificantlyinfluencesthefuturedevelopment oftheenterprisesintheindustry.TheICsemiconductorindustryintheelectronicssectoriscurrentlythe primary downstream industry for clean room engineering, and its development exerts significant influenceonthefuturedevelopmentoftheenterprisesintheindustry.Itposescertaindemandforclean roomengineeringservices,whicharefulfilledbytheenterprisesintheindustry.Withthecontinuous advancementofindustrialtechnology,downstreamindustrieshaveposedhigherandnewrequirements forcleanroomsconstantly,includingtheirdesignlevel,constructionprocessandbuildingmaterials,etc., which,asaresult,requirestheenterprisesintheindustrytocontinuallyresearchanddevelopnew technologies,andapplynewconstructiontechniquestocomplywiththelatestmarketneeds. Theintegrationengineeringserviceindustryofcleanroomsystemreferstotheengineeringservices forclients,suchastheturnkeycontractingservicesforcleanroom,whichisprovidedbetweenproject ownersandsubcontractorsofengineeringmaterials,equipmentandprojectsbasedonowner’sneedsand byvirtueoftheengineeringtechnologiesindifferentfields.Therelationshipamongitsupstream, midstreamanddownstreamisshowninthefigurebelow:(II)DevelopmentStageofCleanRoomIndustry In 2024, China’s clean room industry was under a mature development stage featured bylarge-scaleexpansionandtechnologicalupgrading.Onthewhole,theindustryushereditssteadygrowthandtechnologicalinnovation. Benefitedfromtherapiddevelopmentofstrategicemergingindustriessuchassemiconductors,PVsandbiomedicine,especiallytherigiddemandforhigh-gradecleanroomsinthesemiconductorfieldwhichhasbecomethecoregrowthengineoftheindustry,themarketscaleofthecleanroomindustryexpandedconstantly. Intermsoftechnologicalinnovation,theindustryisundergoingtransformationtoahigh-end,refineddirection.Breakthroughshavebeenmadecontinuouslytothekeytechnologiessuchasaircleanlinesscontrolandtemperatureandhumidityadjustmentalongwiththeincreaseofcleanlinessrequirementsofsemiconductormanufacturingprocess.Theimplementationofthenewversionpoliciessuch as the Standard for Clean Room Design and Standard for Clean Workshop Design inPharmaceuticalIndustryfurtherstandardizedthetechnicalindicatorssuchasnano-particlemonitoring,energyconservationandconsumptionreduction,andpushedthefurtherdevelopmentoftheindustrystandardization.Thetechnicalupgradingofindustriessuchasdomesticchips,newdisplays,andthesoaringdemandforhigh-gradecleanroomsdrovetheindustry’sfurtherdevelopmenttowardshigh-enddirection. Atpresent,thedistinctfeatureoftheindustrycanbesummarizedasthecoexistenceofpoliciesandth challenges.Thesupportingpoliciesforsuchindustriesassemiconductor,biomedicine,etc.inthe"145-year Planning" period imply the demand for clean room construction. The lower demand fortraditionalmanufacturingindustriesandthelowerindustryprofitmarginshavealsoledtoobviouspressureofsmallandmedium-sizedenterprises,andstructuraladjustmentofthelocalmarkets.Facingintensifiedcompetitioninthedomesticmarket,someenterprisesmadealayoutontheoverseasmarketsatafasterspeed,suchasSoutheastAsianmarket,andendeavoredtoexplorenewgrowthpotential.Intellectualizationandgreeningwouldbecomethemaindirectionofindustryupgrading.Cleanroom engineering was gradually integrated with intelligent monitoring system and energy-savingtechnology,withaviewtoreducingoperatingcostsandrespondingtothe“carbonpeakingandcarbonneutralitygoals”.Theregionalclustereffectwasfurtherhighlighted.ElectronicinformationindustryclusterssuchastheYangtzeRiverDeltaandthePearlRiverDeltacontinuedtoattracthighvalue-addedcleanroomprojectsbasedontheirindustrychainadvantages.Ingeneral,in2024,thecleanroomindustryinChinamadesteadyprogressintermsofscaleexpansionandtechnologyiteration.(III)CyclicalCharacteristicsoftheCleanRoomIndustry Thedemandforcleanroomsiscloselyrelatedtothetechnologyiterationandcapacityexpansionofdownstreamindustries,suchassemiconductors,newdisplaysandnewenergy.Thesemiconductorindustryispromotedbythetechnologicalupgradingof5GandAIchips;theinvestmentcycleisdirectlyrelated to the demand of clean room engineering, thus forming the peak and valley of phasedth construction.Thesemiconductors,biomedicine,etc.werelistedaskeydevelopmentdomainsinthe"145-yearPlanning"period,topromotethegrowthofcleanroomconstructiondemands.Industrialpoliciespromotethedevelopmentofindustriessuchassemiconductorsandintegratedcircuitsaswellasthecleanroomengineeringindustrywhichbelongstoanupstreamindustry.Therefore,theperiodicityofthis industry complies with that of national industrial policies, macroeconomics and downstreamtechnologydevelopment. (IV)TheCompany’sStatusintheIndustry AsoneofthemostcompetitiveenterprisesinChina’scleanroomengineeringfield,theCompanyfocusesonprovidingcleanroomsystemtotalsolutionsforhigh-techindustries.ItisalsooneofChina’sfew engineering service companies that are specialized in different industrial fields and haveaccumulatedtheexperienceofprojectconstructionindifferentcountriesandregionsatthesametime.The Company has completed many projects in the industries such as semiconductors, precisionmanufacturing, photoelectric panels, biotechnology and medical care, commercial buildings,government projects, department stores and hospitals with high achievements in air conditioning,electromechanicalengineeringandcleanrooms.Itcanprovideclientswithaseriesofprofessionaltechnicalservicesforprojectconsultation,design,constructionandmanagementaswellassystemdebugging,operationmanagementandwarrantymaintenance.Basedonitsstrongfinancialstrength,rapidresponseservicesystem,excellentengineeringqualityandtechnologicalinnovationability,theCompanyhassuccessfullycompletedanumberofbenchmarkprojectsintheindustry.Inthefuture,onthebasisofintelligentconstructionandgreenlow-carbontechnology,theCompanywillcontinueto integrateindustrychainresourcesindepth,bringforthengineeringsolutionsfeaturingmorescientific andtechnological contentand sustainable value forglobal clients, contribute to the upgrading of high-tech industries, provide high-standard infrastructures for"IntelligentManufacturing in China" continuously,andcreatemoreworld-classexcellentengineeringmodelsinspecializedfields. (V)MajorLawsandRegulationsApplicabletotheIndustryandtheImpactofIndustrialPolicies The current laws and regulations on the clean room system integration engineering services providedbytheCompanymainlyspecifytheindustryqualificationmanagement,industrybusiness standards,andindustryqualitymanagement.Chinahasimplementedstrictqualificationmanagementfor thecleanroomindustryandestablishedastrictmarketaccessmechanism.Thelevelofqualificationis directlyrelatedtoenterprises’capacityofundertakingbusinesses. Theindustrial policy supportforthe main downstreamindustries served bythe Companyis conducivetothesustainablegrowthoftherelatedindustries,thusdrivingtheoverallmarketdemandfor cleanroomengineering.Inrecentyears,Chinahaspromulgatedrelevantpoliciesoneafteranother,in ordertopromotethedevelopmentofindustriessuchassemiconductors,newdisplays,lifesciences,and foodandpharmaceuticals,therebypromotingthegrowthofthecleanroomindustrydemand.Inaddition, cleanroomengineeringispartoftheconstructionindustry.Relevantnationalpoliciesthathavebeen promulgatedsuccessivelyforpromotingthegreeningandintelligentdevelopmentoftheconstruction industry,theapplicationofBIMtechnologyandotherinformationtechnologiesusedincleanroom construction,andthedevelopmentofprefabricatedbuildingshavealsodriventhedevelopmentofclean roomengineeringindustry. TheCompanyanditssubsidiarieshavepaidcloseattentiontoallkeyandlatestpoliciesandlaws homeandabroadcontinuously,adjusttheCompany'sbusinessstrategybasedonthelatestmarkettrend, inordertoeffectivelygrasptheimpactontheCompany'sfinancialbusiness.Inrecentyearsandasof thepublicationdateofthisReport,theCompanyhadn’treceivedsignificantimpactofthechangesof importantpoliciesandlawshomeandabroadonitsfinancialbusiness. III.TheCompany’sBusinesswithintheReportingPeriod (I)OverviewoftheCompany’sMainBusiness The Company’s main business is to provide such services as clean room engineering, electromechanicalengineering,etc.fortheplantconstructionofthehigh-techelectronicindustriessuch asICsemiconductor,optoelectronics,aswellasrelevantfieldsincludingfood,pharmaceuticalandcloud computingcenters.Tobespecific,thebusinessincludescleanfactoryconstruction&planning,design suggestions,equipment,environmentsystemintegrationengineering,andmaintenanceservicesofclean room.The Company has the qualifications of Grade I General Contractor of ElectromechanicalEngineering,GradeISpecializedContractorofBuildingElectromechanicalInstallationEngineering,General Contractor of Building Project Construction, Specialized Contractor of Electronic andIntelligent Engineering, Specialized Contractor of Building Decoration, Specialized Contractor ofFirefightingFacilitiesEngineering,GradeIISpecializedContractorofEnvironmentalProtectionandthequalification fortheinstallation, repairing andtransformation (industrial pipe installation GC2)ofpressure-bearingspecialequipment.Withinthereportingperiod,theCompanyacquiredtheGradeBqualification of engineering design and building industry (building engineering) and Grade B qualification of engineering design and building decoration projects. All these construction qualificationsbestdemonstratetheCompany’ssolidtechnicalstrengthsandprofessionalcapacity. (II)MainProductsandTheirUses Different from other industries, the technology and R&D of clean room system integration engineeringisaimedtotailorandprovidetheoperatingsystemandenvironmentsatisfyingclients’ needsbyimprovingitsapplicationefficiencythroughreorganizingconstructionmethods,andmaterials andequipment,andbyintegratingthespecializedknowledgeindifferentfieldssuchasarchitecture, electromechanicalengineering,airconditioning,fireprotection,instrumentcontrol,distributionpipeline andengineeringmanagementbasedonthespecificowner’sneeds.The clean room system integration-related projects include clean room system integrationengineeringandhook-upworks.（未完）  |