Core Insights - The company reported a revenue of 5.072 billion, a year-on-year increase of 6.12%, and a net profit attributable to shareholders of 1.153 billion, up 11.75% year-on-year [1] - The advanced manufacturing business significantly reduced losses, with a revenue of 95.8749 million, a year-on-year increase of 44.87% [2] - The company aims for a revenue target of 5.8 billion for 2025, representing a 14.35% increase from 2024 [2] Revenue and Profit Performance - Total revenue for 2024 reached 50.72 billion, achieving 101.44% of the annual target [1] - The total profit for the year was 1.357 billion, achieving 105.85% of the annual target [1] - The net profit attributable to shareholders was 1.153 billion, reflecting an 11.75% year-on-year growth [1] Business Segment Analysis - The aerospace new materials business generated a revenue of 49.69 billion, a 6.37% increase year-on-year, and a net profit of 1.22 billion, up 11.22% [1] - The advanced manufacturing technology industrialization business reported a revenue of 95.8749 million, completing 131.34% of its annual target [2] - The company’s sales gross margin was 38.83%, an increase of 2.08 percentage points year-on-year [2] Cost and Expense Management - Sales expenses decreased by 12.63% year-on-year to 0.28 billion due to optimization efforts [2] - Management expenses increased by 4.59% year-on-year to 3.72 billion, primarily due to rising labor costs [2] - R&D expenses rose by 12.74% year-on-year to 1.98 billion, driven by increased investment in aerospace new materials [3] Future Outlook and Investment - The company plans to enhance production capacity in commercial aviation and low-altitude economy sectors [4] - Long-term equity investments reached 327 million, a 175.22% increase from the previous year [4] - The company has completed significant investments in various production capacity projects, including advanced prepreg production and carbon material product lines [4] Profit Forecast - The projected net profits for 2025, 2026, and 2027 are 1.332 billion, 1.543 billion, and 1.754 billion, respectively, with corresponding valuations of 24, 21, and 18 times [5]