Investment Rating - The report maintains a "Recommended" investment rating for the company, with a current stock price of 31.12 yuan [1]. Core Insights - The company achieved a revenue of 1.828 billion yuan in 2024, representing a year-on-year growth of 23.83%, and a net profit attributable to shareholders of 435 million yuan, up 34.50% year-on-year [4][7]. - In Q1 2025, the company reported a revenue of 449 million yuan, a 20.81% increase year-on-year, with a net profit of 108 million yuan, reflecting an 8.20% year-on-year growth [4][7]. - The company plans to distribute a cash dividend of 0.651 yuan per share, totaling approximately 26.97 million yuan [4]. Financial Performance Summary - Revenue and Profit Growth: - 2024 revenue: 1,828 million yuan (+23.83% YoY) - 2024 net profit: 435 million yuan (+34.50% YoY) - 2025 Q1 revenue: 449 million yuan (+20.81% YoY) - 2025 Q1 net profit: 108 million yuan (+8.20% YoY) [4][6][7]. - Profitability Metrics: - 2024 gross margin: 36.42% (+5.67 percentage points YoY) - 2024 net margin: 23.57% (+2.05 percentage points YoY) [7]. - Future Projections: - Expected net profits for 2025-2027: 544 million yuan, 664 million yuan, and 811 million yuan respectively [8][10]. - Expected EPS for 2025-2027: 1.31 yuan, 1.60 yuan, and 1.95 yuan respectively [10]. Product and Market Structure - The company focuses on optimizing product, market, and customer structures, with significant sales in sectors such as new energy vehicles, AI servers, and photovoltaic storage [7][8]. - The SGT-MOSFET product line saw a revenue increase of 43% YoY, contributing to 42.86% of total sales [8]. - The company is expanding its presence in high-end applications and deepening ties with leading clients in the new energy sector [8]. Financial Ratios - Key financial ratios for 2024-2027: - Gross margin: 36.4% (2024), 36.8% (2025E), 36.8% (2026E), 36.9% (2027E) - Net margin: 23.8% (2024), 24.2% (2025E), 24.2% (2026E), 24.2% (2027E) - ROE: 11.0% (2024), 12.3% (2025E), 13.3% (2026E), 14.3% (2027E) [10].

锦州市实验学校科技节上，学生们用吸管和胶带纸精心搭建出一座座"塔台"，在激烈的比赛中探索 工程技术原理；沈阳市皇姑区宁山路小学未来校区，每周两节的人工智能通识课总能带给学生们新奇体 验；营口市健康小学的科学课上，学生们见证了3D打印机里"长"出苹果，通过无人机表演感受科技的 魅力…… 近年来，我省坚持在教育"双减"中做好科学教育加法，各地各校强化课堂主阵地，用好社会大课 堂，激发青少年好奇心、想象力、探求欲，培育具备科学家潜质、愿意献身科学研究事业的青少年群 体。 今年，我省还计划推出中小学科学教育实践基地活动展示平台，及时发布面向全省中小学校开放的 各类科技场馆、高校实验室、科研院所、科普基地及各类科普活动信息，为中小学生提供研学导航图。 做好科学教育加法，加什么、怎么加？我省先后制发《关于加强新时代中小学科学教育工作的实施 方案》《辽宁省中小学科学教育示范区建设方案》《辽宁省中小学生"科技助苗行动"实施方案》3个制 度性文件，在完善课程体系、深化教学改革、拓展社会渠道、丰富实践活动、创新人才培养等方面明确 目标，细化举措，绘制中小学科学教育走深走实的"施工图"。 加强引领示范，我省推动获评首批全国中小学科 ...

Group 1 - Longgang District participated in the "Million Talents Gathering in South Guangdong" recruitment fair, showcasing 23 leading enterprises and 5 higher education institutions, offering over 1,000 high-paying positions [1] - The recruitment event attracted nearly 2,000 job seekers, with 1,300 resumes submitted and 606 hiring intentions reached, including 41 PhDs, 273 master's degree holders, and 292 bachelor's degree holders, resulting in a total of 51.8% of candidates holding advanced degrees [1] - Positions with annual salaries exceeding 500,000 yuan were introduced, covering emerging fields such as artificial intelligence, biomedicine, and drones, with participation from companies like Huawei and Hong Kong Chinese University (Shenzhen) [1][2] Group 2 - Longgang District has been ranked first in the "National Industrial Hundred Strong District" for seven consecutive years, hosting 47 listed companies and over 3,600 national high-tech enterprises, indicating a thriving strategic emerging industry [2] - The district has established a comprehensive policy support system for talent development, offering financial incentives such as a maximum subsidy of 30,000 yuan for new undergraduate entrants, 50,000 yuan for master's degree holders, and 100,000 yuan for PhDs [2] - Longgang District plans to conduct over 20 recruitment events throughout the year, focusing on attracting talent in advanced manufacturing, digital economy, and high-end services, along with providing various talent subsidies and housing policies [3]