汇创达2024年财报：营收微增但净利润增速放缓，新能源业务成亮点

Core Insights - The company reported a total revenue of 1.474 billion yuan for 2024, representing a year-on-year growth of 8.67%, while net profit attributed to shareholders was 101 million yuan, up 7.44% year-on-year, and net profit excluding non-recurring items was 96.57 million yuan, increasing by 24.77% [1][4][6] - Despite overall growth, the net profit growth rate has significantly slowed down, and both revenue and net profit declined quarter-on-quarter in Q4, indicating pressure from market fluctuations [1][6] Business Performance - The signal transmission components and modules business was a growth driver, achieving sales revenue of 640 million yuan, a year-on-year increase of 22.79%, primarily due to policy subsidies boosting smartphone demand and synergies from the acquisition of Xinweixing [4] - Conversely, the light guide structure components business underperformed, with sales revenue of 367 million yuan, a year-on-year decline of 9.08%, attributed to easing demand in the global laptop market and insufficient recovery in product demand [4] - The new energy structural components segment emerged as a highlight, generating sales revenue of 53.68 million yuan, a remarkable year-on-year growth of 239%, driven by increased orders in the energy storage sector [4][5] Operational Challenges - The OEM business faced challenges, with revenue of 276 million yuan, down 13.61% year-on-year, due to pressure on smart home product demand and intensified competition [5] - The company has decided to eliminate non-core businesses to focus on strategic areas, aiming to optimize its overall business structure [5] Financial Management - The company successfully maintained stable gross margins in core businesses through cost reduction and process optimization, with net cash flow from operating activities reaching 149 million yuan, a year-on-year increase of 120.96% [6] - Continuous investment in R&D, particularly in smart manufacturing and automation, has enhanced production efficiency and product quality [6] Future Outlook - The company faces multiple challenges, including global economic uncertainties, intensified industry competition, and changes in international policies, which may impact future growth [6] - The ongoing weakness in the light guide structure components business and fluctuations in the OEM market demand necessitate more flexible strategies from the company [6]