Etron(SH:603380) Chang Jiang Shang Bao·2025-05-16 23:25Core Insights - Company achieved significant growth in Q1 2025 with revenue of 549 million yuan, a year-on-year increase of 21.68%, and net profit of 41.77 million yuan, up 34.19% [1] - In 2024, the company reported total revenue of 2.16 billion yuan, a 12.74% increase year-on-year, and net profit of 184 million yuan, growing by 38.16% [1] - The industrial control sector remains the largest contributor, generating 1.03 billion yuan in revenue, accounting for over 47% of total business, with a growth of 32.07% [1] Revenue Breakdown - Domestic sales accounted for 56.57% of total revenue at 1.22 billion yuan, while international sales contributed 43.43% at 938 million yuan, with a 10.33% increase in foreign sales year-on-year [2] - The company focuses on various sectors including communications, industrial control, automotive electronics, medical electronics, and consumer electronics [2] R&D Investment - The company has consistently increased its R&D expenditure from 54 million yuan in 2020 to 117 million yuan in 2024, with a total of 471 million yuan spent over five years [2] Global Expansion - Since 2019, the company has expanded its production bases globally, with significant capacity increases in factories located in Mexico, Romania, and Vietnam, particularly noting the successful ramp-up of the Romanian facility [3] - As of Q1 2025, total assets reached 2.34 billion yuan, reflecting a 148% increase from 941 million yuan at the end of 2017 [3]