欧陆通：一季度营收净利润保持高增长，高功率服务器电源收入增长强劲

Core Viewpoint - The company, 欧陆通, reported strong financial performance for 2024 and Q1 2025, with significant revenue and profit growth, driven by robust business strategies and market demand in the data center power supply sector [1][2][3]. Financial Performance - In 2024, the company achieved revenue of 3.798 billion yuan, a year-on-year increase of 32.32%, and a net profit attributable to shareholders of 268 million yuan, up 36.92% [1]. - For Q1 2025, the company reported revenue of 888 million yuan, a 27.65% increase year-on-year, and a net profit of 49.57 million yuan, reflecting a 59.06% growth [1]. Business Segments - The power adapter business generated revenue of 1.673 billion yuan in 2024, growing by 4.96%, showcasing the company's ability to maintain stability amid weak downstream demand [2]. - The data center power business saw a significant revenue increase of 79.95% in 2024, reaching 1.459 billion yuan, with a gross margin of 25.04% [3]. - High-power data center power products achieved revenue of 780 million yuan, a staggering growth of 536.88%, accounting for 53.48% of the data center power business [3]. Market Position and Strategy - The company has established itself as a leading domestic manufacturer of data center power supplies, leveraging over 10 years of experience and a strong R&D capability [4]. - The product lineup includes a comprehensive range of power supplies for various applications, including high-power server power supplies and solutions compliant with OCP standards [5]. - The company is actively expanding its global footprint, with production bases in Vietnam and Mexico, and is building sales teams in Taiwan and the USA to enhance its international market presence [8]. R&D and Innovation - In 2024, the company invested 213 million yuan in R&D, representing 5.60% of its revenue, and holds numerous patents, reinforcing its technological edge [7]. - The company is committed to supporting the domestic supply chain and achieving 100% localization of components for its data center power projects [7].