Zheng Quan Zhi Xing·2025-06-03 09:12Core Viewpoint - The company is facing challenges in the global optical fiber and cable market due to declining demand for traditional products, but it is also identifying opportunities in new technologies and international markets [1][3][5]. Business Review - In 2024, the global demand for optical fibers and cables continued to be under pressure, with domestic production decreasing by approximately 18.2% year-on-year [1]. - The company maintained a leading delivery share in the domestic market and stabilized core business revenue despite challenges, achieving a gross margin increase from 29.70% in 2023 to 31.68% in 2024 [3][8]. - The company is focusing on new fiber technologies to meet the growing demand for high-capacity and low-latency transmission, particularly in data centers and AI infrastructure [1][4]. International Strategy - The company has significantly increased its overseas business revenue from approximately RMB 398 million in 2014 to about RMB 4.12 billion in 2024, representing 33.8% of total revenue [5]. - The company has established a presence in key international markets with eight overseas bases and over 50 offices, enhancing its ability to respond to market demands [5]. Technological Innovation - The company is committed to technological innovation and smart manufacturing, with a focus on developing advanced optical fiber technologies and new product lines [4][6]. - The company is advancing in the third-generation semiconductor sector, with plans to produce 360,000 6-inch silicon carbide wafers annually, meeting the needs of approximately 144,000 electric vehicles [6]. Financial Performance - The company's net profit for 2024 decreased by approximately 47.9% to RMB 675.9 million, with a stable operating cash flow of about RMB 1.78 billion [8]. - The company maintains a healthy financial position with a debt-to-equity ratio of 41.4% as of December 31, 2024 [8]. Future Development - The company plans to continue consolidating its leading market position and optimize its business structure by leveraging new fiber products and international opportunities [8]. - The company aims to enhance its core competitiveness through diversified business expansion and international market engagement [8].