Core Viewpoint - The company plans to lease part of its idle assets to enhance asset utilization and activate existing resources [1] Group 1 - The subsidiary Dongguan Jiahe Acoustics Technology Co., Ltd. intends to lease idle assets located in Dongguan, Guangdong Province [1] - The leased assets will be used as industrial factories [1] - This move is expected to improve the company's asset utilization rate [1]

Core Points - Tianjian Acoustic Co., Ltd. announced the need to pay back taxes and late fees totaling 8.1926 million yuan, which includes 6.4982 million yuan in taxes and 1.6944 million yuan in late fees [1] - As of the announcement date, the company has fully paid the tax and late fees, and this repayment does not involve any administrative penalties [1] - According to the Accounting Standards for Enterprises No. 28, the repayment does not constitute a prior accounting error and will not require retrospective adjustments to previous financial data [1] - The repaid taxes and late fees will be included in the profit and loss for the year 2025, with the specific impact on the net profit attributable to shareholders of the listed company to be determined by the auditing firm [1] - The company has reminded investors to be aware of investment risks [1]

Group 1 - The company, Gongda Electric Sound, announced that neither it nor its controlling subsidiaries have provided guarantees to entities outside the consolidated financial statements [1] - The company and its controlling subsidiaries have not experienced overdue guarantees or losses due to being ruled against in guarantee-related lawsuits [1]

Core Points - The company announces the retirement of core technical personnel Yin Huilong due to reaching the legal retirement age, effective August 4, 2025, and he will no longer hold any position within the company [1][2] - The company has recognized Ding Xiaofeng as a new core technical personnel based on his educational background, work experience, and contributions to the company's R&D projects [1][5] - Yin Huilong's retirement is not expected to adversely affect the company's operational capabilities, R&D strength, or core competitiveness [1][8] Details of Personnel Changes - Yin Huilong, born in June 1965, has a bachelor's degree and is a senior engineer with extensive experience in the company since 2002 [2] - Ding Xiaofeng, born in November 1980, has been with the company since 2004 and has held various managerial positions, contributing significantly to quality management and R&D [5][6] - The total number of core technical personnel remains unchanged after this personnel adjustment [7][8] Impact on Company Operations - The company has established a robust R&D team and a complete R&D system, ensuring that ongoing projects are progressing normally [9] - The company emphasizes the importance of talent acquisition and training, aiming to enhance its technical innovation capabilities and core competitiveness [10] - The company has a history of maintaining a stable R&D team, which is crucial for its future technological advancements [10]

Group 1 - The core point of the article is that Goer Group, led by Jiang Bin and his wife, is making a significant move to strengthen its position as a core supplier for Apple by acquiring two companies for approximately HKD 10.4 billion (around RMB 9.5 billion) [1][7] - Goer Group has a history of relying on the Apple supply chain for growth, having successfully entered it through strategic decisions and product innovations [1][4] - The company aims to solidify its status as a key supplier to Apple, despite facing challenges from order cuts by Apple in recent years [1][6] Group 2 - Jiang Bin's journey from a technician to the head of an industry leader showcases his strategic vision and commitment to high-quality production [2][3] - The company was founded in 2001, initially focusing on microphone production, and has since evolved into a major player in the Bluetooth headset market [2][3] - Goer Group's revenue and net profit saw significant growth after entering the Apple supply chain, with 2010 revenues reaching RMB 26.45 billion, a 134.7% increase [5] Group 3 - The acquisition of the two companies is seen as a move to deepen ties with Apple, particularly as they are core suppliers for Apple's watch metal frames [1][7] - Goer Group's revenue for 2024 is projected to be RMB 100.95 billion, reflecting a 2.41% year-on-year growth, with a net profit of RMB 2.665 billion, marking a recovery of 144.93% [6][7] - The company is also planning to spin off Goer Micro for a Hong Kong listing to enhance its global presence, with 62.3% of its revenue coming from Apple [7]

Core Viewpoint - Tianjian Co., Ltd. (SZ301383) reported a significant increase in both revenue and profit for the year 2024, indicating strong financial performance and growth potential. Financial Performance - The company's operating revenue for 2024 was 2.23 billion yuan, representing a year-on-year increase of 26.85% compared to 1.76 billion yuan in 2023 [1] - The net profit attributable to shareholders was 211.75 million yuan, up 55.59% from 136.10 million yuan in the previous year [1] - The net profit after deducting non-recurring gains and losses was 165.15 million yuan, reflecting a 31.17% increase from 125.91 million yuan in 2023 [1] - Basic earnings per share were 1.30 yuan, a rise of 35.42% from 0.96 yuan in 2023 [1] Profitability Metrics - The gross profit margin for 2024 was 18.77%, a decrease of 1.54% year-on-year [2] - The net profit margin improved to 9.55%, an increase of 1.77% compared to the previous year [2] Expense Management - Total operating expenses for 2024 amounted to 212 million yuan, an increase of 29.65 million yuan from the previous year [2] - The expense ratio was 9.50%, down 0.86% from the prior year [2] - Sales expenses rose by 45.36%, while management expenses increased by 38.68% and R&D expenses grew by 12.69% [2] Employee Statistics - The total number of employees at the company as of the end of 2024 was 3,111, an increase of 34 from 3,077 at the end of 2023 [4] Executive Compensation - Total compensation for directors, supervisors, and senior management in 2024 was 9.94 million yuan, with the highest-paid executive being the Deputy General Manager and Secretary of the Board, who received 1.49 million yuan [5]

Group 1: Company Performance - In 2024, the company achieved total revenue of 790,134.29 million yuan, an increase of 33.17% year-on-year [4] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was 19,860.66 million yuan, up 21.81% year-on-year [4] - The decrease in non-recurring gains was primarily due to a reduction in investment income, which fell by approximately 11,147.50 million yuan [4] Group 2: Strategic Focus - The company has expanded into new product categories, new customers, and new bases, resulting in increased personnel costs as part of its strategic layout [3] - The company aims to maintain a large customer strategy, focusing on becoming a core supplier to leading industry clients [5] - Future growth drivers include partnerships with consumer electronics companies and large model clients, emphasizing the importance of model capabilities in competitive advantage [5] Group 3: Industry Outlook - The audio and acoustic business has vast application scenarios and significant growth potential, driven by advancements in 5G, IoT, and AI technologies [8] - The company anticipates good development opportunities in the consumer audio industry as product and technology breakthroughs continue [8]

Core Insights - The company achieved significant growth in both revenue and net profit for the year 2024, but experienced a substantial decline in net cash flow from operating activities [1][9] - Increased R&D investment reflects the company's commitment to technological innovation, which may impact future growth [1][7] Revenue Growth and Business Structure Optimization - In 2024, the company reported revenue of 1,207,684,020.80 yuan, a 21.06% increase from 997,600,140.39 yuan in 2023 [2][3] - The core business of acoustic components and assemblies generated revenue of 1,067,034,369.02 yuan, accounting for 88.35% of total revenue, with a year-on-year growth of 21.82% [2] - Domestic sales reached 754,477,814.09 yuan, representing 62.47% of total revenue and a growth of 23.43%, indicating enhanced competitiveness in the domestic market [3] Profitability Improvement - The net profit attributable to shareholders was 78,890,485.23 yuan, a 41.71% increase from 55,669,449.70 yuan in 2023 [4][5] - The net profit excluding non-recurring items was 83,520,363.22 yuan, reflecting a 51.23% year-on-year growth, indicating improved core business profitability [4][5] Expense Management and R&D Investment - Sales expenses increased by 35.46% to 25,990,291.45 yuan due to business expansion [6][8] - R&D expenses rose by 20.92% to 65,802,521.77 yuan, highlighting the company's focus on innovation [7][8] - The number of R&D personnel increased by 9.90% to 322, with a higher proportion of staff holding undergraduate degrees or above [7][8] Cash Flow Analysis - Net cash flow from operating activities decreased by 60.17% to 53,544,086.96 yuan, primarily due to increased procurement costs [9][10] - Net cash flow from investing activities was -149,283,107.44 yuan, a decline of 263.91%, indicating increased capital expenditures [10][11] - Net cash flow from financing activities increased significantly to 162,677,508.58 yuan, up 421.09% from the previous year, providing financial support for operations and investments [11][12]

创业板风险提示 本次发行股票拟在创业板市场上市，创业板公司具有创新投入大、新旧产业融 合存在不确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特 点，投资者面临较大的市场风险。投资者应充分了解创业板市场的投资风险及 本公司所披露的风险因素，审慎作出投资决定。 天键电声股份有限公司 MINAMI ACOUSTICS LIMITED （江西省赣州市于都县贡江镇上欧工业小区齐民路 66 号） 首次公开发行股票 并在创业板上市招股说明书 （注册稿） 本公司的发行申请尚需经交易所和中国证监会履行相应程序。本招股说明书（注 册稿）不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正式 公告的招股说明书作为投资决定的依据。 （无锡市新吴区菱湖大道 200 号中国物联网国际创新园 F12 栋） 保荐机构（主承销商） 天键电声股份有限公司 招股说明书（注册稿） 发行人声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不 ...