Core Insights - The company reported a revenue of 503 million yuan for 2024, an increase of 9.78% year-on-year, while the net profit attributable to shareholders was 36 million yuan, a decrease of 23.98% [1] - In Q1 2025, the company achieved a revenue of 142 million yuan, a year-on-year increase of 28.23%, and a net profit of 17 million yuan, a significant increase of 288.73% [1] Semiconductor Business - The company made significant breakthroughs in the semiconductor sector, with revenue from semiconductor products growing by 37.17% as they transitioned from R&D samples to mass production [1] - The demand in international markets remains strong, driven by the domestic substitution trend, which is expected to benefit the company as it participates in the upgrade of the domestic semiconductor industry [1] AR/VR Sector - Revenue from the AR/VR testing sector declined by 33.20% due to a shift from R&D to small-batch production, lower equipment prices, and longer acceptance cycles for small-batch orders [1] - The company is enhancing communication with clients and optimizing testing processes to reduce costs and improve efficiency in response to industry challenges [1] R&D Investment - The company invested 70.28 million yuan in R&D in 2024, accounting for 13.98% of its main business revenue, focusing on precision optical components and ultra-precision processing technologies [2] - Continuous investment in key technologies is aimed at upgrading products and enhancing innovation capabilities [2] Future Revenue Projections - The company is projected to achieve revenues of 614 million yuan, 744 million yuan, and 952 million yuan for the years 2025 to 2027, with net profits of 50 million yuan, 70 million yuan, and 110 million yuan respectively [2]
茂莱光学(688502)：半导体光学业务发力 一季度利润恢复增长