Company Overview - Company has a comprehensive industrial layout and is expanding into upstream core areas, being one of the few private infrared manufacturers in China that masters core technologies for both cooled and uncooled infrared detectors, as well as precision infrared lenses [1] - The company emphasizes talent development and has a strong talent reserve advantage [1] - It has established extensive cooperative relationships with downstream customers across various application fields, providing a strong customer resource advantage [1] Industry Insights - The infrared thermal imaging industry benefits from national defense modernization and expanding demand in civilian sectors, with the domestic market expected to exceed 10 billion yuan in 2024, showing a compound annual growth rate of approximately 20% [1] - High-end products, such as cooled infrared detectors, are experiencing significant demand growth, with certain technical paths like InSb and T2SL gaining market recognition due to their performance advantages [1] Financial Performance - In 2024, the company achieved a total operating revenue growth of 36.93% year-on-year and a net profit attributable to shareholders growth of 36.18% year-on-year [2] - In the first quarter of 2025, revenue and net profit increased by 13.35% and 22.77% year-on-year, respectively [2] - The core business of cooled infrared products, such as InSb detectors, and the forward-looking T2SL technology supply chain continue to see incremental growth [2]
国科天成：具备产业布局完善、技术先发等多重核心竞争力 24年度营收、净利双双逾三成增长