Core Viewpoint - Mingyang Technology successfully held its 2024 annual report performance briefing on May 8, showcasing robust financial results and future growth strategies [1][2] Financial Performance - In 2024, Mingyang Technology achieved operating revenue of 304 million yuan, representing a year-on-year increase of 18.04% - The net profit attributable to shareholders reached 79.126 million yuan, up 18.93% year-on-year - The net profit after deducting non-recurring gains and losses was 73.076 million yuan, reflecting a growth of 10.76% - Basic earnings per share stood at 0.77 yuan, indicating stable performance [1] Customer Structure and Market Focus - The company’s main clients include leading enterprises such as Huayu Automotive, Hubei Zhonghang Precision Machinery, Faurecia Group, and Fuyao Glass - In 2025, the company plans to focus on expanding its customer base in the automotive seating and non-automotive sectors [1] Future Business Strategy - The company aims to drive continuous growth through five key initiatives: 1. Expanding business areas and product application scenarios for multi-dimensional revenue growth 2. Increasing R&D investment to optimize processes and launch cost-effective new products 3. Enhancing customer response capabilities and service stickiness 4. Optimizing supply chain management to reduce procurement costs 5. Promoting intelligent transformation to improve capacity and efficiency [2] Product Portfolio - Mingyang Technology specializes in the R&D and production of core components for automotive seat adjustment systems, with products including self-lubricating bearings, force transmission rods, powder metallurgy, and metal injection molded parts - The products are widely used in automotive, engineering machinery, and electric tools sectors - The company plans to leverage its technological advantages to accelerate its extension into high-value non-automotive business areas, further consolidating its market competitiveness [2]