ZTBH(SZ:000957) Xin Lang Cai Jing·2025-04-26 10:34Core Viewpoint - The company reported strong financial performance for 2024 and Q1 2025, with significant year-on-year growth in revenue and net profit, driven by robust export business and improved sales structure [1][2][3] Financial Performance - For 2024, the company achieved revenue of 5.73 billion, a year-on-year increase of 35.1%, and a net profit of 250 million, up 258.1% [1] - In Q1 2025, revenue reached 1.69 billion, reflecting a quarter-on-quarter increase of 32.1% and a year-on-year increase of 12.9% [1] - The company’s net profit for Q1 2025 was 80 million, with a quarter-on-quarter increase of 80.5% and a year-on-year increase of 41.2% [1] Export Business - The company’s export business showed strong performance, with total sales of 11,000 units in 2024, a year-on-year increase of 51.5% [1] - In Q1 2025, the company sold 2,766 units, a year-on-year increase of 10.0%, with exports accounting for 22.6% of total sales [1][2] - The company confirmed a bulk order for electric vehicles from Chile, contributing to a significant year-on-year increase of 521.7% in new energy exports [1] Revenue Composition - Overseas revenue accounted for over 56% of total revenue in 2024, with domestic revenue at 2.52 billion and international revenue at 3.21 billion [2] - The average selling price for domestic vehicles reached 486,000, while the overseas average was 516,000 [2] Strategic Initiatives - The company completed the delivery of 300 electric buses to Chile and has a strong order backlog, ensuring continued profitability growth [3] - A share buyback plan was announced, with a budget of 100 to 200 million for repurchasing shares at a maximum price of 15 per share, indicating management's confidence in long-term performance [3] Profit Forecast - Revenue projections for 2025-2027 are 7.18 billion, 7.92 billion, and 8.50 billion respectively, with net profits expected to be 460 million, 550 million, and 620 million [3]