HGTECH(000988) 每日经济新闻·2025-05-10 05:31Core Viewpoint - Huagong Technology is facing new challenges amid ongoing globalization strategies, particularly due to the recent introduction of "reciprocal tariffs" by the United States, which has raised concerns among shareholders [1][2]. Financial Performance - In 2024, Huagong Technology achieved a revenue of 11.709 billion yuan, representing a year-on-year growth of 13.57%, and a net profit attributable to the parent company of 1.221 billion yuan, up 21.17% [2]. - The domestic market contributed approximately 88.2% of the total revenue, amounting to 10.328 billion yuan, while the international market accounted for about 11.8%, with revenue of 1.381 billion yuan [2]. - The revenue growth rate for the international market was 25.57%, significantly higher than the overall revenue growth rate of 13.57% [2]. Globalization Strategy - Huagong Technology has established four overseas R&D centers and over 40 sales service centers in North America, Australia, Germany, and Canada, which have led to a noticeable increase in export orders from Europe, North America, and the Middle East [2][3]. - The company aims to increase the proportion of overseas sales to over 30% in the future, despite short-term policy fluctuations [3]. Impact of Tariffs - The recent tariff fluctuations have had some impact on the company, but the management believes they have the capability to manage these challenges [2][3]. - The company's business in the U.S. will primarily focus on optical modules, which may either be exempt from tariffs or have the tariff burden passed on to customers, thus minimizing the impact on profits [2]. Future Projections - For 2025, Huagong Technology projects a revenue of 14 billion yuan, reflecting a year-on-year growth of approximately 19.56% [6]. - In the first quarter of the current year, the company reported a revenue of 3.355 billion yuan, a year-on-year increase of 52.28%, and a net profit of 410 million yuan, up 40.88% [6]. - The company anticipates steady growth across its three main business segments, with the optical module segment expected to see significant growth driven by domestic computing power infrastructure development [6][7].