KING-STRONG(SZ:300629) Jin Rong Jie·2025-04-22 07:09Core Viewpoint - The company reported a decline in both revenue and net profit for 2024, primarily due to short-term adjustments in downstream industries affecting customer demand and payment processes [4][6]. Financial Performance - The total revenue for 2024 was 481 million yuan, a decrease of 5.96% from 511 million yuan in 2023 [4][6]. - The net profit attributable to shareholders was 120 million yuan, down 13.58% year-on-year [4][6]. - The non-recurring net profit also stood at 120 million yuan, reflecting a 10.25% decline [4][6]. - The rolling quarter-on-quarter revenue growth rate was -9.53%, and the net profit growth rate was -14.03%, indicating significant financial pressure [4][6]. Special Application Electronic Business - The special application electronic business is primarily managed by subsidiaries Kuanpu Technology and Renjian Microwave, focusing on RF microwave technology [5][6]. - In 2024, the revenue from RF microwave business reached 474 million yuan, accounting for 98.70% of the company's total revenue [6]. Special Application Material Business - The special application material business is represented by subsidiary Kangtaiwei, which has developed various advanced materials [7]. - In 2024, Kangtaiwei's revenue from material products was 4.21 million yuan, but the company is positioning itself in emerging fields like low-altitude economy and satellite internet [7][8]. Future Outlook - The company is actively promoting digital transformation to optimize business processes and improve operational efficiency [8]. - It is focusing on new product development with an emphasis on quality and cost management, aiming to reduce production costs [8]. - The company is expanding into new markets such as low-altitude economy, domestic large aircraft, and satellite internet, which may provide growth opportunities despite current pressures [8].