GoerTek(SZ:002241) Zhong Guo Zheng Quan Bao·2025-10-24 22:23Core Insights - The core viewpoint of the article highlights that GoerTek, a leading consumer electronics company, reported a slight decline in revenue for the first three quarters of 2025, but achieved steady growth in profitability and announced a cash dividend plan for shareholders [2][3]. Financial Performance - For the first three quarters of 2025, GoerTek achieved operating revenue of 68.107 billion yuan, a year-on-year decrease of 2.21%; net profit attributable to shareholders was 2.587 billion yuan, an increase of 10.33%; basic earnings per share were 0.75 yuan [3]. - In the third quarter, GoerTek reported operating revenue of 30.557 billion yuan, a year-on-year increase of 4.42%; net profit attributable to shareholders was 1.171 billion yuan, up 4.51% [3]. - The company announced a cash dividend of 1.5 yuan per 10 shares (tax included), totaling approximately 0.522 billion yuan, which represents 20.16% of the net profit for the first three quarters [3]. Business Segments - GoerTek's revenue decline was attributed to certain projects in the smart acoustic system segment affected by product iteration cycles; however, the precision components and smart hardware segments showed significant growth, effectively offsetting short-term fluctuations [4]. - The precision components business focuses on acoustic, optical, microelectronics, and structural parts, widely used in smartphones, VR/AR, and AI smart glasses, maintaining steady development due to technological advantages and customer relationships [4]. - The smart hardware segment, particularly in wearable devices, has progressed well and has become a key driver of profitability [4]. Market Outlook - Multiple institutions have expressed positive views on GoerTek's growth prospects, noting that revenue has remained stable, with a significant increase from 23.75 billion yuan in 2018 to 104.89 billion yuan in 2022, despite adjustments in 2022-2024 [5]. - Analysts predict a recovery in profits, with net profit expected to reach 2.67 billion yuan in 2024 and further increase by 15.7% to 1.42 billion yuan in the first half of 2025 [5]. - The integration of AI technology is expected to reshape consumer electronics, creating new product categories and driving demand for precision components, which will provide new growth opportunities for GoerTek [6].