China Securities Intelligent Financial Information VeriSilicon Co., Ltd. (688521) disclosed its 2024 performance report on the evening of February 27, and the company achieved operating income of 2.323 billion yuan, a year-on-year decrease of 0.66%; The net profit loss attributable to the parent company was 605 million yuan, compared with a loss of 296 million yuan in the same period last year, the loss of non-net profit was 644 million yuan, a loss of 318 million yuan in the same period last year, the basic earnings per share was -1.21 yuan, and the weighted average return on equity was -25.18%. Based on the latest closing price, the price-to-book ratio (LF) is about 17.79 times, and the price-to-sales ratio (TTM) is about 18.61 times.

Based on the data of this disclosed performance report, the company's price-to-earnings ratio (TTM) chart in recent years is as follows:

According to the data, the company is mainly engaged in one-stop chip customization services and semiconductor IP licensing services.

The company has invested heavily in technology research and development in key application areas, such as chiplet technology and its application in generative artificial intelligence and intelligent driving five years ago. The company began to develop an ultra-lightweight, ultra-low-power AI/AR glasses chip design platform three years ago, customized AR glasses chips for world-renowned Internet companies, and carried out in-depth cooperation with its always-on open source projects to form a complete technology platform.

Due to the short-term decrease in customer projects in the industrial downturn, the company has increased the proportion of R&D investment compared with the past, and the R&D expenses in 2024 will increase by about 32% year-on-year. With the increase in orders for the company's chip design business, the revenue of the chip design business in the second half of 2024 will increase by about 81% year-on-year, and R&D resources have been gradually invested in customer projects, and it is expected that the proportion of the company's R&D investment will decline in the future and return to normal levels. At present, the company has accumulated sufficient technical and human resources, and its technical capabilities are leading in the industry, and continue to be recognized by high-quality customers around the world.

According to the data, the company's weighted average return on equity in 2024 will be -25.18%, down 14.64 percentage points from the same period last year.

Proofreading: Yang Ning

Indicator Annotation:

P/E ratio = total market capitalization / net profit. When the company loses money, the P/E ratio is negative, and it is not practical to use the P/E ratio for valuation, and the P/B ratio or P/B ratio is often used as a reference.

Price-to-book ratio = total market capitalization / net assets. The price-to-book ratio valuation method is mostly used for companies with large fluctuations in earnings and relatively stable net assets.

Price-to-sales ratio = total market capitalization / operating income. The price-to-sales ratio method is often used for growing companies that are losing money or making small profits.

The price-to-earnings ratio and price-to-sales ratio in this article are calculated using the TTM method, that is, the data for the 12 months up to the latest financial report (including forecast). The price-to-book ratio is calculated using the LF method, that is, based on the latest financial report data. The quantile calculation range of the three is from the company's listing to the latest announcement date.

When the P/E ratio and price-to-book ratio are negative, the current quantile is not displayed, which will cause the line chart to be interrupted.