Apple(US:AAPL) 招商电子·2025-03-21 01:25Core Viewpoint - The company reported a significant increase in revenue and net profit for 2024, driven by the growth of its rear camera business and rising demand for laser radar in the smart driving sector [2]. Group 1: Financial Performance - For the full year 2024, the company achieved revenue of 2.494 billion yuan, representing a year-on-year increase of 169%, and a net profit attributable to shareholders of 119 million yuan, up 156% year-on-year [2]. - In the second half of 2024, the company’s revenue reached 1.896 billion yuan, showing a year-on-year growth of 242% and a quarter-on-quarter increase of 218%. The net profit for this period was 103 million yuan, reflecting a year-on-year increase of 261% and a quarter-on-quarter increase of 544% [2]. - The net profit margin for the full year 2024 is projected to be 4.8%, with the second half showing a margin of 5.4%, indicating an improvement in profitability as the rear camera business scales up [2]. Group 2: Business Growth Drivers - The rear camera business is entering a growth phase, with successful penetration into the iPhone's new ultra-wide and periscope camera segments, contributing to substantial revenue growth [2]. - The demand for laser radar is rapidly increasing, benefiting from the widespread adoption of smart driving technologies [2]. - The company is expected to continue strong performance in the first half of 2025, supported by the new iPhone 17 models featuring optical innovations [3]. Group 3: Strategic Initiatives - The company is actively expanding into new business areas such as AR/VR, smart driving, and robotics, which are expected to provide long-term growth opportunities [3]. - In AR/VR, the company is involved in Apple's innovations, focusing on core optical components like MicroLED display technology [3]. - In the smart driving sector, the company has established a deep partnership with a leading player, providing laser radar module services [3].