Investment Rating - The investment rating for the company is "Accumulate" and is maintained [9] Core Views - The company relies on a "3+3" strategy, balancing external mergers and internal growth, quickly entering high-growth sectors, and is expected to form three growth poles: high-voltage connectors for electric vehicles, AI optical modules, and consumer electronics acoustics. The recovery of the main business, along with the resonance of AI, new energy, and consumer electronics acoustics, combined with global capacity layout cost reduction, is expected to continuously release profits [2][6] Summary by Sections Company Overview - In Q1 2025, the company achieved revenue of 1,102.91 million USD, a year-on-year increase of 14.28%, while net profit from continuing operations was 6.24 million USD, a year-on-year decrease of 38.80% [6] Business Developments - The company showcased its CDFP SMT connectors and passive direct-connect copper cables at DesignCon 2025, achieving efficient signal transmission for PCI Express 6.0 and PCIe 7.0, which are suitable for modular architecture in data centers [9] - The company announced the launch of Smart Mobility in partnership with Saleh Suleiman Alrajhi & Sons, focusing on the EV charging market in Saudi Arabia, with the Voltaira charging station series already certified for the local market [9] - The company is optimizing its global capacity layout to respond to market changes and customer demands, enhancing manufacturing capabilities in emerging markets like Southeast Asia and India [9] Financial Projections - The company projects revenues of 4,915 million USD, 5,454 million USD, and 6,097 million USD for 2025, 2026, and 2027 respectively, with net profits of 177 million USD, 204 million USD, and 238 million USD for the same years [9]
FIT HON TENG（06088）：FITHONTENG（06088）：公司经营稳健，新业务布局与技术创新驱动未来成长