三、海外业务成新增长点 2024年，会通股份的海外业务取得了显著增长，成为公司业绩的重要新增长点。海外收入同比增长 178.39% ，销量突破 1.7万吨 ，服务了30余家海外 客户。泰国工厂于2024年竣工投产，新增产能5万吨/年，公司将通过泰国工厂为核心枢纽，建立辐射整个东南亚地区的商业布局。 【DT新材料】 获悉，5月28日， 会通股份 召开2024年度暨2025年第一季度业绩说明会，分享了2024年及2025年一季度的业绩亮点。 在过去的一年里，会通股份通过全球化布局（尤其是东南亚市场）、高端材料国产替代（如长碳链尼龙）及新兴业务（锂电池隔膜）的拓展，实现了业 绩的强劲增长。尽管短期面临成本与现金流压力，但其在研发投入、精益管理和绿色材料领域的战略布局，为长期增长奠定了坚实基础。 一、2024年全年业绩：营收与利润创新高 2024年，会通股份取得了亮眼的业绩，营业收入达到 60.88亿元 ，同比增长 13.81% 。归母净利润为 1.94亿元 ，同比增长 32.04% ；扣非净利润为 1.7亿元，同比增长45.99%。 此外，公司研发投入持续加大，达到 2.75亿元 ，同比增长14.65%，占营业收入 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [5]. Core Insights - The company has demonstrated stable growth in profitability, with a 13.81% year-on-year increase in revenue to 6.088 billion yuan and a 32.04% increase in net profit to 194 million yuan for the year 2024. The first quarter of 2025 also showed a 15.07% increase in revenue to 1.468 billion yuan and a 14.67% increase in net profit to 50 million yuan [2][5]. - The company's modified plastic business has seen a revenue increase of 15.39% to 5.936 billion yuan, accounting for 97.51% of total revenue, driven by increased sales volume [3]. - The company is focusing on high-value products such as long-chain nylon materials, PEEK, and PPS, with long-chain nylon revenue growing by 105.39% year-on-year, indicating a strategic shift towards emerging markets [4]. Financial Performance - The company’s revenue projections for 2025-2027 are 7.066 billion yuan, 8.335 billion yuan, and 10.081 billion yuan, respectively, with year-on-year growth rates of 16.08%, 17.95%, and 20.95% [5]. - The net profit forecasts for the same period are 250 million yuan, 318 million yuan, and 414 million yuan, with growth rates of 28.63%, 27.35%, and 30.13% [5]. - The company’s return on equity (ROE) is expected to improve from 10.69% in 2025 to 14.16% in 2027 [5]. Market Expansion - The company has successfully expanded into international markets, establishing a factory in Thailand and serving over 30 overseas clients, with overseas sales increasing by 178.39% year-on-year [3]. - The diversification into new fields such as consumer electronics and AI data servers is expected to create new growth opportunities [4].