USISH(SH:601231) Zheng Quan Ri Bao Wang·2025-03-31 13:16Core Viewpoint - The company reported stable revenue but a decline in net profit for the fiscal year 2024, highlighting challenges in the global supply chain and increased operational costs due to new factory constructions and acquisitions [1] Revenue Performance - The company achieved a revenue of 60.691 billion yuan, remaining flat compared to the previous year, while net profit decreased by 15.16% to 1.652 billion yuan [1] - Automotive and cloud storage products were the main drivers of revenue growth, with automotive electronics revenue increasing by 16.24% and cloud storage products by 13.35% [2] Product Segment Analysis - Revenue from communication, consumer electronics, and industrial products experienced varying degrees of decline, attributed to changes in industry demand and customer inventory adjustments [2][3] - The growth in automotive electronics was significantly influenced by the consolidation of Hesseman Automotive Communications, while cloud storage growth was driven by increased demand for AI-related server products [2] Global Operations and Expansion - The company operates 30 manufacturing service sites across Asia, Europe, the Americas, and Africa, and continues to expand its global footprint [4] - New factories in Poland and Mexico have commenced operations, and a partnership with TechMahindra aims to establish an engineering offshore development center in Bangalore, India [4] - The company emphasizes the importance of a diversified supplier system and aims to strengthen relationships with clients and partners amid supply chain restructuring in the consumer electronics sector [4]