XINYA(SH:605277) Zhong Zheng Wang·2025-05-06 06:04Core Insights - New Asia Electronics reported a revenue of 3.531 billion yuan for 2024, marking a year-on-year growth of 10.84%, with a net profit of 153 million yuan, up 6.00% [1] - The company continued its strong growth into Q1 2025, achieving revenue of 882 million yuan, a 27.39% increase year-on-year, and a net profit of 47.27 million yuan, up 18.82% [1] Business Performance - The company’s four core business segments showed a "two stable, two growing" pattern in 2024, with stable performance in consumer electronics and industrial control cables, while new energy and automotive cables experienced rapid growth [2] - Revenue from consumer electronics and industrial control cables reached 1.386 billion yuan, a 22.99% increase, accounting for 39.26% of total revenue [2] - Despite a slowdown in 5G base station construction affecting communication cables, high-frequency and high-speed copper cable sales surged by 102.88%, exceeding 117 million yuan [2] New Energy and Automotive Cables - Revenue from new energy cables and components reached 569 million yuan, a 40.78% increase, primarily serving the photovoltaic and energy storage sectors [3] - The automotive cable segment saw a remarkable growth of 176.3%, with revenue reaching 189 million yuan, becoming the fastest-growing segment [3] Technological Innovation - The company invested 125 million yuan in R&D in 2024, adding 10 invention patents and 23 utility model patents, with a total of 195 authorized patents [4] - New Asia Electronics has a long-standing partnership with Amphenol, continuously upgrading high-frequency and high-speed copper cables for AI servers [4] Strategic Development - The company adopted a dual-driven strategy of "internal growth + external expansion," focusing on deepening industry chain integration [5] - New Asia Electronics increased its stake in Suzhou Xianglong Technology to 9.87%, a key player in precision connectors, aiming for collaborative development in technology and market [6]