Shenzhen Honor Electronic (SZ:300870) Xin Lang Cai Jing·2025-07-29 09:14Core Viewpoint - The company, Shenzhen Oulutong Electronics Co., Ltd., is a leading manufacturer in the switch power supply industry, focusing on innovation and global expansion to enhance its competitive edge and profitability [2][3][4]. Company Overview - Shenzhen Oulutong was established in May 1996 and listed on the ChiNext board on August 24, 2020, with stock code 300870.SZ [2]. - The company specializes in the research, production, and sales of switch power supply products, serving various sectors including office electronics, network communication, and electric vehicles [2][3]. - Oulutong has established production bases in Shenzhen, Dongguan, Ganzhou, and Suzhou, as well as overseas bases in Vietnam and Mexico, creating a comprehensive global production service system [2][3]. Financial Performance - In 2024, the company achieved a revenue of 3.798 billion yuan, a year-on-year increase of 32.32%, marking a historical high [4]. - The gross profit margin for 2024 was 21.36%, up by 1.64 percentage points year-on-year, driven by optimization of customer and product structure [4]. - The net profit attributable to shareholders for 2024 was 268 million yuan, reflecting a year-on-year growth of 36.92% [5]. - In Q1 2025, the company reported a revenue of 888 million yuan, a 27.65% increase year-on-year, and a net profit of approximately 49.57 million yuan, up 59.06% [5]. R&D and Innovation - Oulutong is recognized as a national high-tech enterprise with multiple R&D centers in Shenzhen, Hangzhou, Shanghai, and the USA, and holds over a hundred patents [3]. - The company emphasizes technological innovation and aims to maintain its leading position in the industry by continuously enhancing its R&D capabilities [3]. ESG Initiatives - The company prioritizes environmental, social, and governance (ESG) dimensions, focusing on sustainable development through innovative research and green technology [6][7]. - Specific measures include the introduction of energy-saving equipment, photovoltaic power projects, and a comprehensive environmental management system certified by ISO 14001 [7][8]. - Oulutong has established a multi-dimensional ESG framework and aims to improve its ESG information transparency, targeting an upgrade in its Wind ESG rating from A to AA [9]. Social Responsibility - The company invests in employee training and development, with a training expenditure of 417,100 yuan in 2024, covering over 95% of employees [10]. - Oulutong actively participates in community development, donating 300,000 yuan to charity for rural construction projects in 2024 [11].