Core Insights - The company achieved a total revenue of 515 million yuan in 2024, representing a year-on-year increase of 25.39% [1] - The net profit attributable to shareholders for 2024 was 99 million yuan, up 14.58% year-on-year [1] - The company is focusing on import substitution, with significant growth in core technology product revenues [2] Financial Performance - In Q4 2024, the company reported total revenue of 162 million yuan, a year-on-year increase of 33.18% and a quarter-on-quarter increase of 28.62% [1] - The net profit attributable to shareholders in Q4 2024 was 33 million yuan, reflecting a year-on-year increase of 17.47% and a quarter-on-quarter increase of 35.90% [1] - In Q1 2025, total revenue was 131 million yuan, up 26.60% year-on-year but down 19.19% quarter-on-quarter [1] Product Development and Market Strategy - The company is advancing import substitution, with ePTFE micro-permeable products and CMD and gas management products showing sales growth of 15.8%, 97.4%, and 49.8% respectively in 2024 [2] - The company established an automotive wiring harness division in 2024, leveraging customer resource advantages to launch high-performance automotive wiring harness products [2] - The company is committed to a "market niche, product diversification" strategy, continuously developing new products and applications in various fields, including automotive and aerospace [3] Future Outlook - The company is expected to see rapid growth in new business areas, with projected net profits for 2025-2027 being 141 million, 180 million, and 226 million yuan respectively, with year-on-year growth rates of 42.04%, 27.56%, and 25.99% [3]
泛亚微透(688386):持续推进进口替代力度 1Q25业绩同比+43.22%