Core Viewpoint - The company expects a revenue increase of 10-15% in 2024, with a gross margin recovery to over 20% [2][3] Revenue and Profitability - The overall revenue for 2024 is projected to rise by 10-15%, supported by a more diversified product mix and a robust product portfolio [3] - The precision components segment is anticipated to continue its rapid growth, with metal frame revenue increasing by 34.3% year-on-year in 2023 [3] - The company reported a significant increase in revenue from heat dissipation products, which grew by over 100% year-on-year [3] Business Segments - The acquisition of Premium Sound Solutions (PSS) is expected to contribute 3-3.5 billion RMB in revenue and approximately 200 million RMB in net profit [2][3] - The acoustic division is projected to achieve a gross margin of 25-30% in 2024, while the electromagnetic transmission and precision components segments are expected to maintain a gross margin of 20-25% [2] - The optical business is also expected to stabilize and improve in 2024, with an increase in the shipment ratio of high-end products [2] Cash Flow and Financial Health - The company reported an operating cash inflow of 4.63 billion RMB, a 6% increase year-on-year, marking a five-year high [3] - Free cash flow reached 3.81 billion RMB, the highest level since the company went public [3] - The company maintains a low net debt-to-equity ratio of 5.1%, indicating a strong financial position to support future strategic initiatives [3]
瑞声科技（02018）业绩访谈：预计2024年营收提升10-15%，PSS车载业务收入超30亿元