Huaqin Technology (SH:603296) 剑道电子·2025-06-18 12:29Core Viewpoint - The company, Huqin Technology, is a leading global ODM enterprise in smart hardware, showcasing strong growth through diversified business layouts [1] Financial Performance - In 2024, the company achieved a revenue of 109.88 billion yuan, representing a year-on-year growth of 28.8%, primarily driven by the increase in high-performance computing products [2] - The net profit attributable to shareholders for 2024 was 2.93 billion yuan, reflecting a year-on-year growth of 8.1% [2] - In Q1 2025, the company reported a revenue of 34.99 billion yuan, marking a year-on-year increase of 115.65% and a quarter-on-quarter increase of 3.34% [3] - The net profit attributable to shareholders in Q1 2025 was 842 million yuan, showing a year-on-year growth of 39.05% [3] Business Overview - Founded in 2005, the company specializes in the research, design, production, and operational services of smart hardware products, covering high-performance computing, smart terminals, AIoT, automotive, and industrial products [4] - The product portfolio includes smartphones, laptops, tablets, smart wearables, TWS earbuds, AIoT products, and servers [4] Strategic Initiatives - The "3+N+3" strategy focuses on three core businesses: smartphones, laptops, and data centers, while expanding into emerging fields such as robotics, software, and automotive electronics [5] - The strategy aims to establish the company as a comprehensive supplier in the smart ecosystem by enhancing operational efficiency, research and development, advanced manufacturing, and precision components [5] Market Dynamics - The demand for computing power has surged, leading to rapid growth in the company's data product business, which saw a revenue increase of 178.8% in 2024 [6] - Non-mobile business revenue now accounts for over 70% of total revenue, with significant growth in smart wearables, AIoT, and automotive sectors [6]