CH AUTO(SH:605018) Sou Hu Cai Jing·2025-04-30 04:32Core Viewpoint - Longhua Group's 2024 annual report indicates a decline in revenue but a stable growth in profitability, driven by the optimization of market structure and expansion into the new energy sector [1][4]. Group 1: Financial Performance - The company achieved an operating revenue of 2.207 billion yuan, a year-on-year decrease of 8.88% [1]. - The net profit attributable to shareholders was 114 million yuan, reflecting a year-on-year increase of 4.08% [1]. - The net profit after deducting non-recurring items was 101 million yuan, up 3.37% year-on-year [1]. Group 2: New Energy Business - Longhua Group made significant progress in its new energy business, adding 77 new clients, including 11 major manufacturers and 66 secondary suppliers [4]. - Sales revenue from the new energy sector reached 386 million yuan, accounting for 17.49% of total operating revenue, marking it as a key growth driver [4]. - The company established stable partnerships with renowned automotive companies such as Honda, Volkswagen, and General Motors [4]. Group 3: Diversification Strategy - The company is actively pursuing a diversification strategy, exploring new applications for its products [5]. - In the carbon-ceramic brake system sector, Longhua has set up dedicated production lines and entered mass production, with products already applied to emerging domestic automotive brands [5]. - The company has delivered metal components for photovoltaic control modules to 13 clients and has entered mass production for over 40 types of metal structural components in the energy storage and battery pack sectors [5]. Group 4: Investment Projects and Capacity Expansion - Longhua Group is steadily advancing its fundraising projects, solidifying its business foundation [7]. - The company has completed its initial public offering fundraising projects, including the construction of an automotive stamping parts production base and a high-strength fasteners production line [7]. - The successful progress of these projects is expected to enhance the company's production capacity in the high-strength fasteners sector and support future market expansion [7].