Solomon Systech (international) Ltd. · HKEX:2878
Solomon Systech (international) — FY2024 Earnings Presentation
28 slides from Solomon Systech (international)'s earnings presentation, April 2025
Slide 1: 2024 Annual Results Presentation
2024 Annual Results Presentation Stock code: 2878 April 2025
Slide 2: Contents
Contents 1. Financial Review 2. Business Review 3. Outlook 4. Appendix: About the Company 2
Slide 3: Financial Review
FINANCIAL REVIEW SOLOMON
Slide 4: Financial Highlights
Financial Highlights 2024 2023 Change % (US$ million) (US$ million) Revenue 113.4 153.2 -25.9% Gross profit 38.0 46.3 -17.9% GP margin 33.5 30.3% +3.2p.p. R&D expenses 18.7 17.8 +4.9% Profit attributable to owners of the 10.1 19.4 -47.9% parent Earnings per share (US cents) 0.4 0.8 -50% Current rati
Slide 5: Balance Sheet
Balance Sheet As at 31 Dec 2024 As at 31 Dec 2023 Change % (US$ million) (US$ million) Total assets 163.7 157.4 +4.0% Shareholders’ equity 137.0 126.9 +8.0% Bank deposits and cash 107.7 86.3 +24.8% 5
Slide 6: Revenue Trend By Products
Revenue Trend By Products New Display ICs Mobile Display & Mobile Touch ICs 2H 2H 1H 1H 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Large Display ICs OLED Display ICs 2H 2H 1H 1H 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 6
Slide 7: Revenue By Products
Revenue By Products Large Display ICs 2024 Large Display ICs 2023 4% 12% Mobile Display & New Display ICs Mobile Display & New Display ICs Mobile Touch ICs Mobile Touch ICs 21% 39% 47% 52% 14% OLED ICs 10% OLED ICs 7
Slide 8: Consolidated Cash Flow
Consolidated Cash Flow 2024 2023 Change % (US$ million) (US$ million) Net cash generated from 20.0 37.8 -47.2% operating activities Net increase in cash and 24.1 35.8 -32.6% cash equivalents Total bank deposits and cash 107.7 86.3 +24.8% 8
Slide 9: Business Review
BUSINESS REVIEW SOLOMON
Slide 10: New Display IC
New Display IC As a globally leading supplier for e-paper display driver ICs with the largest market share, the Group’s customers include many of the world's top-ranked supermarkets Revenue decreased due to lower shipment volume and ASP of new display ICs: ▪ Sales of 3-color display labels (E4) slow
Slide 11: OLED Display IC
OLED Display IC OLED display ICs ▪ The Group is the world’s No.1 PMOLED display driver IC player with a dominant market share in terms of shipment volume ▪ The shipment volume slightly increased YoY Continuous promotion ▪ Mini-LED/Micro-LED display IC ‒ Launched the world’s 1st small-sized passive m
Slide 12: Mobile Display & Mobile Touch ICs
Mobile Display & Mobile Touch ICs ▪ Affected by the sluggish personal consumption market, shipment volume and revenue of mobile display and mobile touch IC products significantly declined ▪ Sales of game console controller ICs boosted by the launch of new games in the market ▪ Collaborated with lead
Slide 13: Large Display ICs
Large Display ICs Shipment and revenue of large display ICs surged ▪ Benefitted from a series of home appliance subsidy policies introduced in mainland China in 2024, lead to a surge in the sales of large-size display e.g. monitors and smart TVs. The shipment volume and revenue grew over 50% for the
Slide 14: Large Display ICs
Large Display ICs Latest developments: ▪ Display driver ICs ‒ Authorized by a major Chinese display manufacturer to develop a new generation P2P high-speed interface display driver ICs (prototypes for project validation expected to be produced in 2H 2025) ▪ Automotive driver ICs ‒ Signed a strategic
Slide 15: Outlook
OUTLOOK
Slide 16: Outlook
Outlook New Display ICs OLED Display ICs ▪ With gradual completion of models updates ▪ Promote the world’s 1st small-sized passive and mass production of small-sized 4- micro-LED display driver IC - SSD2363 color display labels, transition from 3-color launched by the Group to 4-color displays will
Slide 17: About the Company
ABOUT THE COMPANY SOLOMON
Slide 18: Our Milestones
Our Milestones Listed on main board of HKEx Set up of Shenzhen Rebranded with (stock code: 2878) Set up of Taiwan & Nanjing Technology Center new company logo Technology Center Spin-off from Motorola 1999 2000 2002 2003 2004 2017 2025 Established in Entered Hong Kong • World no.1 PMOLED display Hong
Slide 19: Our Presence
Our Presence Head Office Hong Kong Sales Networks Hong Kong Technology Centers Shenzhen Hong Kong Beijing Nanjing Nanjing Shenzhen Shanghai Taiwan Taiwan Japan Korea USA Europe 19
Slide 20: Key Business Units
Key Business Units Solomon Systech IC & System Solutions New Display OLED Display Mobile Display Large Display Bistable Display OLED Display/Touch Mobile Driver ❖ Dot-Matrix Bistable DDI ❖ PMOLED TDDI ❖ TFT Display Driver IC (DDI) ❖ Source DDI ❖ Segment Bistable DDI ❖ PMOLED Display Driver ❖ In-Cell
Slide 21: Product Applications
Product Applications ePaper/ Electronic Shelf Label Smartphone / Tablet Medical Gaming Smart Home Appliances 21
Slide 22: Custom ICs
Custom ICs ❖ Custom ICs for digital, analog and mixed-signal applications ❖ One-stop solution from designing, testing to delivering ❖ Our turnkey services provide one of the most convenient and easiest ways from ASIC to SoC production Mini-LED/ Micro-LED Custom Driver Controller Applications ❖ The f
Slide 23: “Fabless” Business Model
“Fabless” Business Model Customers Develop/ Co-develop Display IC & System Solution Design & Logistics Quality Development Management Marketing Management IC Software System Solution IP Management 中国电子 Branding 的支持 Mask Wafer Packaging Making Fabrication and Testing Outsource Manufacturing 23
Slide 24: Awards & Achievements
Awards & Achievements ❖ World-leading market share for electronic shelf labels (ESL) applications ❖ Ranked 1st in global market share for PMOLED applications for consecutive years Hong Kong Awards for Industries - EE Awards Asia China Semiconductor Innovative Products Technological Achievement Award
Slide 25: International Partnership
International Partnership Solomon Systech’s customers include many international labels: Brand Owners Display Module Makers 25
Slide 26: Patents
Patents ❖ Approx. 680 IC design patents from China, US, Europe and other Asia regions ❖ PMOLED ❖ Developed world’s first PMOLED TDDI ❖ Patented driving architecture in US and China ❖ ePaper ❖ Patent on fully automated panel defeat detection method which benefits IoT application ❖ Mini-LED/ Micro-LED
Slide 27: Thank You
solomon-systech.com Thank You
Slide 28: Disclaimer
Disclaimer This presentation does not constitute an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make such offer or solicitation or is unlawful without compliance with any registration, filing or
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