XINYA(SH:605277) Zheng Quan Shi Bao Wang·2025-05-05 11:56Core Insights - New Asia Electronics (605277) reported a revenue of 3.531 billion yuan for 2024, representing a year-on-year growth of 10.84%, with a net profit of 153 million yuan, up 6% [1] - The company demonstrated strong operational resilience through product structure optimization, deepening industry chain layout, and accelerating internationalization despite macroeconomic pressures and intensified industry competition [1] Revenue Breakdown - The revenue growth was primarily driven by strong performance in consumer electronics and industrial control cables, new energy cables and components, and automotive cables [1] - In the consumer electronics and industrial control cable segment, revenue reached 1.386 billion yuan, a year-on-year increase of 22.99% [1] - The communication cable and data cable segment experienced a revenue decline of 16.29% due to the slowdown in 5G base station construction; however, high-frequency and high-speed data cable business grew by 102.88% [2] Investment and R&D - New Asia Electronics invested over 70 million yuan in advanced equipment for AI servers and data centers, achieving mass delivery of PCIe 6.0 and completing R&D for PCIe 7.0 [2] - The company reported R&D expenses of 125 million yuan, with 10 new invention patents and 23 utility model patents added during the reporting period [2] Strategic Expansion - The company is transitioning from a single "cable" manufacturer to a comprehensive solution provider for "cables + connectors" through acquisitions and partnerships, including the acquisition of Zhongde Cable and investment in Kebo Optoelectronics [3] - New Asia Electronics is accelerating its global production layout, establishing manufacturing bases in Thailand, Mexico, and Hungary to create a localized overseas operational system [3] Future Goals - The company aims to achieve a revenue target of 4 billion yuan by 2025, focusing on expanding its product applications in "artificial intelligence+" and ensuring comprehensive growth across its business segments [4] - The first quarter of 2025 showed a revenue of 882 million yuan, a year-on-year increase of 27.39%, with a net profit of 47.27 million yuan, up 18.82% [4]