Yonggui(SZ:300351) Chang Jiang Shang Bao·2025-04-21 17:34Core Insights - Yonggui Electric's operating performance has significantly improved, with a revenue of 2.02 billion yuan in 2024, representing a year-on-year growth of 33.04%, and a net profit of 126 million yuan, up 24.47% [1] Business Performance - The company has maintained stable growth in its rail transit business while seizing opportunities in the new energy sector, enhancing cooperation with leading automotive companies, and optimizing its revenue structure [1] - The vehicle-mounted and energy information segment achieved a revenue of 1.17 billion yuan in 2024, marking a year-on-year increase of 52.24%, and accounted for 57.90% of total revenue, becoming the new growth core for the company [1] New Energy Business - In 2024, the new energy business generated 1.12 billion yuan in revenue, serving as the main growth engine for the company [1] Global Expansion Strategy - To address the intensifying competition in the domestic new energy vehicle market, the company is actively pursuing a global strategy, planning to invest 9.5 million USD to establish subsidiaries in Singapore and Thailand [2] - The company reported overseas revenue of 6.788 million yuan in 2024, a year-on-year increase of 6.22%, accounting for 0.34% of total revenue [2] Research and Development - Yonggui Electric has been increasing its R&D investment, with expenses rising from 107 million yuan in 2022 to 165 million yuan in 2024, reflecting year-on-year growth rates of 12.53%, 23.81%, and 24.83% respectively, totaling 404 million yuan over three years [2] - As of December 31, 2024, the company holds a total of 726 authorized patents, including 128 invention patents [2] Fundraising and Future Projects - The company has received approval for the issuance of 980 million yuan in convertible bonds, which will be used for projects related to connector intelligence, ultra-fast charging industry upgrades, and R&D center enhancements [2][3] - Successful implementation of these fundraising projects is expected to accelerate technological breakthroughs in key areas of the new energy vehicle supply chain and enhance the company's core competitiveness [3]