晶振

Search documents
泰晶科技2024年财报:营收微增,净利润大幅下滑,高端化布局成效初显
Sou Hu Cai Jing· 2025-05-07 17:08
Core Viewpoint - 泰晶科技在2024年实现营业总收入8.21亿元,同比增长3.55%,但归属净利润为0.88亿元,同比下降13.55%,显示出市场竞争压力加大,盈利能力下降 [1][4][7] Revenue and Profitability - 2024年营业总收入为8.21亿元,同比增长3.55%,表明公司业务规模有所扩大 [4] - 归属净利润为0.88亿元,同比下降13.55%,扣非净利润为6202.50万元,同比减少24.26% [1][4] - 自2021年达到净利润峰值2.45亿元后,净利润持续下滑,2024年降幅高达64% [4] High-end Layout Progress - 公司在高端化布局上取得进展,2024年研发费用达4868万元,同比增长33.05% [5] - 重点投入半导体光刻工艺、车规级产品和高频器件等领域,成功攻克500MHz高频加工技术瓶颈 [5] - 在汽车电子领域,公司成立汽车电子事业部,开发了2000余款料号,已通过AEC-Q200/Q100认证 [6] Market Competition and Challenges - 全球晶振市场面临下游需求分化和价格战的双重挑战,尽管高端晶振需求激增,但整体市场环境依然严峻 [7] - 公司通过技术降本、质量降本等手段提升产品竞争力,但财务数据未能完全转化为盈利能力的提升 [7] - 未来公司需加大创新力度,优化产品结构,以应对市场的不确定性 [7]
泰晶科技:业绩短期承压,加速产品高端化布局-20250429
HUAXI Securities· 2025-04-29 04:15
Investment Rating - The investment rating for the company is "Accumulate" [5] Core Views - The company's revenue for 2024 was 821 million, a year-on-year increase of 3.55%, while the net profit attributable to shareholders was 88 million, a decrease of 13.55% [1] - In Q1 2025, the company achieved a revenue of 200 million, a year-on-year increase of 10.09%, but the net profit attributable to shareholders dropped significantly by 71.52% to 9 million [1][2] - The company is focusing on high-end product development and expanding its market presence in automotive electronics, with a dedicated automotive electronics division established [9][10] Summary by Sections Financial Performance - In 2024, the company's gross margin was 23.68%, down by 2.48 percentage points year-on-year, and in Q1 2025, it further declined to 17.87%, a decrease of 6.97 percentage points [3] - The operating expense ratio for 2024 was 12.92%, an increase of 1.14 percentage points year-on-year, with specific increases in sales and R&D expenses [3] Market Strategy - The company is implementing a customer demand-oriented strategy, enhancing its market penetration of new products such as active crystals and automotive-grade crystals [2][4] - The company has completed certification for mainstream chip solutions, including Qualcomm mobile platforms and WiFi6/7 high-frequency certifications [4] Research and Development - The company is increasing its R&D efforts, optimizing its high-end product layout, and has established a dedicated R&D laboratory for active modules [5][8] - The company has made significant advancements in high-frequency and small-size product mass production, achieving breakthroughs in processing capabilities [8] Future Projections - Revenue projections for 2025 and 2026 are 985 million and 1.14 billion, respectively, with expected year-on-year growth rates of 20.0% and 15.8% [10][12] - The net profit projections for 2025 and 2026 are 81 million and 113 million, with a year-on-year decrease of 8.0% for 2025, followed by a significant increase of 40.3% in 2026 [10][12]