Core Viewpoint - Changhua Group reported a decline in revenue but an increase in profit and cash flow, indicating resilience and strategic growth in the automotive parts industry, particularly in the new energy sector [1][2]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 2.207 billion yuan, a year-on-year decrease of 8.88% [1]. - The total profit reached 119 million yuan, reflecting a year-on-year increase of 12.39% [1]. - The net cash flow from operating activities was 370 million yuan, showing a significant year-on-year growth of 137.67% [1]. - The company proposed a cash dividend of 1.50 yuan per 10 shares (tax included), signaling positive market sentiment [1]. Group 2: Business Development in New Energy Sector - Changhua Group has been actively expanding its new energy vehicle (NEV) parts business, adding 77 new customers in 2024, including 11 OEMs and 66 secondary suppliers [2]. - The sales revenue from NEV parts reached 386 million yuan, accounting for 17.49% of total operating revenue [2]. - The company has established partnerships with nearly 30 automotive manufacturers in the NEV sector, enhancing its market presence [2]. Group 3: Diversification and Product Expansion - The company is diversifying its product applications, including the production of carbon-ceramic brake systems, with an annual capacity of 200,000 parts [3]. - In the photovoltaic sector, metal components for control modules have been delivered to 13 clients, gradually increasing market share [3]. - Over 40 types of metal structural components for energy storage and battery packs have entered mass production, with projects launched for leading international automotive companies [3]. - The company has successfully produced samples for planetary roller screw systems used in humanoid robots, indicating a commitment to R&D and product iteration [3].