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崧盛股份(301002) - 2025年7月8日投资者关系活动记录表
2025-07-08 09:38
Group 1: Company Overview - Shenzhen Songsheng Electronics Co., Ltd. has been focused on LED driver power supply for nearly 15 years, establishing itself as a leading manufacturer in China with significant scale and digital operation capabilities [2][5]. - The company has a strong domestic market presence, with 2024 revenue from domestic LED lighting driver power supply reaching CNY 740 million, accounting for 83.79% of total revenue [3]. Group 2: Financial Performance - In 2024, the company experienced a decline in gross margin for LED driver power supplies due to intensified industry competition, with the sales price dropping more than the reduction in unit product costs [2]. - Direct export revenue increased by 47.81% year-on-year in 2024, with new markets opened in South America and the Middle East [3]. Group 3: Market Position - The company holds a leading position in the domestic LED driver power supply market, while its global market share is relatively low at 1.31% as of 2022, according to QYResearch [4]. Group 4: Product and Resource Development - The company has established a joint venture with Chongqing Jingang Transmission Technology Co., Ltd., investing CNY 5.5 million for a 55% stake to develop high-performance components for robotics and aerospace [5]. - Key materials for LED driver power supplies include transformers, MOSFETs, control ICs, and inductors, with a robust supply chain that is not significantly affected by U.S. semiconductor export controls [7]. Group 5: Revenue Breakdown and Capacity Utilization - In 2024, outdoor lighting LED driver power supply accounted for approximately 46% of total revenue, while commercial lighting contributed about 43% and plant lighting combined with sports lighting made up around 11% [7]. - The overall capacity utilization rate for the company in 2024 was approximately 66%, with expectations to reach around 70% in the current year [7].