Keli Sensing Technology (Ningbo) (603662) 新浪财经·2025-05-13 02:29Core Insights - The company reported a revenue of 1.295 billion in 2024, representing a year-on-year increase of 20.79%, while the net profit attributable to shareholders decreased by 16.62% to 261 million [1] - In Q1 2025, the company achieved a revenue of 316 million, a year-on-year increase of 27.08%, and a net profit attributable to shareholders of 76 million, reflecting a significant increase of 75.85% [1] Financial Performance - In 2024, the company's revenue from mechanical sensors and instruments was 631 million, a decrease of 4.93% year-on-year, while other physical quantity sensors contributed incremental revenue [2] - The company's industrial IoT and system integration revenue reached 533 million in 2024, a year-on-year increase of 69.34%, indicating positive impacts from previous acquisitions [2] - The gross profit margin for the company in 2024 was 43.12%, a slight increase of 0.07 percentage points year-on-year, while the gross profit margin for industrial IoT and system integration products decreased by 9.37 percentage points [3] - The company’s net profit margin in Q1 2025 was 27.78%, an increase of 7.48 percentage points year-on-year [3] Strategic Initiatives - The company is actively pursuing a focused investment strategy, completing nine strategic investment projects in 2024 and investing in Kepler Robotics in Q1 2025, covering various fields including humanoid robots and AI health robots [4] - The company has developed a series of products for humanoid robots and is collaborating with over 50 domestic clients, with some clients entering the bulk order phase [4] - The company is making breakthroughs in micro, high-frequency response, MEMS silicon-based technologies, and force control algorithm integration [4] Future Outlook - The company maintains a "buy" rating, with expected net profits of 359 million and 452 million for 2025 and 2026, corresponding to PE ratios of 52x and 42x respectively [5]