Highlander(300065) 新浪财经· Xin Lang Cai Jing·2025-05-30 06:37Core Viewpoint - The company focuses on intelligent navigation, marine observation, and subsea data center businesses, leveraging over 20 years of technological accumulation in marine equipment and information technology to establish fully autonomous production and testing capabilities in intelligent navigation and marine observation [1][6] Group 1: Financial Performance - In 2024, the company achieved operating revenue of 384 million yuan, a year-on-year decrease of 49.06%, while net profit attributable to shareholders was 8 million yuan, marking a return to profitability [2][3] - In Q1 2025, the company reported operating revenue of 346 million yuan, a year-on-year increase of 639.08%, and net profit attributable to shareholders of 35 million yuan, a year-on-year increase of 1324.75% [2][4] Group 2: Business Strategy and Adjustments - The revenue decline in 2024 was primarily due to the impact of acceptance nodes related to the Hainan Province marine disaster prevention project, which was completed in Q1 2025, while the company focused on high-margin orders, leading to a significant improvement in profitability [3][4] - The company has successfully completed operational adjustments in 2024 and aims to enter a new development phase, updating its three-year plan to strive for a breakthrough in total group revenue by 2027 [1][6] Group 3: Technological Advancements - The company has overcome a series of technical challenges related to subsea data centers, including sealing, corrosion resistance, and heat dissipation, and has completed the registration of a full set of patents, enabling systematic production capabilities and the commencement of commercial construction [1][5] - The Hainan subsea intelligent computing center's computing module has been successfully deployed, supporting comprehensive computing services, and the company is actively promoting the construction of a subsea data center project that integrates offshore wind power [5][6] Group 4: Future Outlook - The company aims to achieve net profits of 76 million yuan, 101 million yuan, and 124 million yuan for the years 2025 to 2027, corresponding to PE ratios of 163X, 123X, and 100X, respectively, indicating a positive future development outlook [7]