JADARD TECHNOLOGY INC.(SH:688252) 剑道电子·2025-03-30 09:24Core Viewpoint - The company is expected to achieve a significant increase in revenue and net profit in 2024, with a projected revenue growth of 74% and a net profit growth of 144% [2]. Financial Performance - In 2024, the company reported a revenue of 2.102 billion yuan (YoY +73.88%) and a net profit attributable to shareholders of 275 million yuan (YoY +143.61%), with a non-recurring net profit of 247 million yuan (YoY +145.30%) [2]. - The gross margin improved by 1.4 percentage points to 21.41%, while R&D expenses increased by 22.20% to 176 million yuan, resulting in a decrease in R&D expense ratio by 3.5 percentage points to 8.36% [2]. - In Q4 2024, revenue reached 618 million yuan (YoY +61.6%, QoQ -3.6%), with a net profit of 82.89 million yuan (YoY +118%, QoQ -8.9%) [2]. Product Line Growth - All product lines experienced significant revenue growth, with the mobile intelligent terminal display driver chips generating 1.614 billion yuan (YoY +62.73%), accounting for 77% of total revenue, and an improved gross margin of 18.47% [3]. - Revenue from electronic price tags, camera voice coils, and fast charging protocol chips reached 484 million yuan (YoY +138%), representing 23% of total revenue, with a gross margin increase of 7.70 percentage points to 31.10% [3]. New Product Development - The company launched multiple new display driver chip products in 2024, enhancing product competitiveness through new technologies [4]. - The new technologies include dynamic adjustment of driving voltage and brightness parameters for AMOLED screens, addressing brightness flickering issues during frame rate switching [4]. Market Position - The four-color electronic price tag has become mainstream, accounting for 80% of the market, with the company achieving the global leading market share in electronic price tag display driver chips [5]. - The company successfully developed narrow border GIP architecture electronic paper driver ICs, applicable not only to electronic price tags but also to innovative applications such as mobile phone back covers [5].