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诚迈科技(300598):营收持续增长,信创PC加强投入
ZHONGTAI SECURITIES· 2025-06-11 12:51
Investment Rating - The report maintains an "Accumulate" rating for the company, indicating an expected relative performance increase of 5% to 15% over the next 6 to 12 months compared to the benchmark index [3][8]. Core Views - The company is projected to achieve revenue growth from 1,976 million yuan in 2024 to 2,493 million yuan in 2025, reflecting a year-on-year growth rate of 26% [3][6]. - The net profit attributable to the parent company is expected to recover from a loss of 126 million yuan in 2024 to a profit of 10 million yuan in 2025, indicating a significant turnaround [3][6]. - The company is focusing on the innovation and growth path in the intelligent connected vehicle sector, which has shown promising growth despite profit pressures [5][6]. Financial Performance Summary - In 2024, the company reported revenue of 1,976 million yuan, a 5.23% increase year-on-year, but incurred a net loss of 126 million yuan [5]. - The first quarter of 2025 saw a revenue increase of 13.59% year-on-year, with a reduced net loss of 42 million yuan [5]. - The overall gross margin for 2024 was 15.23%, down 2.17 percentage points from the previous year, indicating margin pressure [5]. Business Segment Analysis - The mobile intelligent terminal software segment generated revenue of 936 million yuan in 2024, a decline of 3.76% year-on-year, primarily due to decreased income from some clients [5]. - The intelligent connected vehicle software segment achieved revenue of 490 million yuan in 2024, marking a 16.91% increase year-on-year, supported by expanding overseas markets [5]. - The company has established a comprehensive technical moat in the operating system technology field, collaborating closely with chip manufacturers [5][6]. Profitability Forecast - The company forecasts revenues of 2,493 million yuan for 2025, 3,128 million yuan for 2026, and 3,800 million yuan for 2027, with corresponding net profits of 10 million yuan, 81 million yuan, and 146 million yuan respectively [6][7]. - The report anticipates a gradual improvement in profitability, with a projected net profit margin of 4.0% by 2027 [6][7].
诚迈科技(300598):营收持续增长 信创PC加强投入
Xin Lang Cai Jing· 2025-06-11 10:49
Core Viewpoint - The company reported a revenue increase in 2024 but faced net losses, with a focus on growth in the intelligent connected vehicle sector and challenges in traditional business areas [1][2][5] Financial Performance - In 2024, the company achieved revenue of 1.976 billion, a year-on-year increase of 5.23%, but reported a net loss of 126 million, marking a shift to loss compared to the previous year [1] - The first quarter of 2025 saw revenue of 476 million, a year-on-year growth of 13.59%, with a reduced net loss of 42 million, down 6.95% year-on-year [1][2] Business Segments - The mobile intelligent terminal software segment generated revenue of 936 million, a decline of 3.76% year-on-year, influenced by reduced income from some clients [2] - The intelligent connected vehicle software segment reported revenue of 490 million, a growth of 16.91% year-on-year, with efforts to expand overseas markets [2] Profitability and Costs - The overall gross margin for 2024 was 15.23%, down 2.17 percentage points year-on-year, with the first quarter of 2025 showing a gross margin of 12.25%, down 2.07 percentage points [3] - Sales expenses increased by 49.03% year-on-year in 2024, primarily due to promotional efforts in the new computer business and investments in the intelligent vehicle sector [3] Technological Focus - The company is concentrating on operating system technology, collaborating closely with chip manufacturers and focusing on core technology accumulation [4] - The company has developed a new generation of cross-domain integrated vehicle operating system, FusionOS, compatible with major chip manufacturers [4] Future Outlook - Revenue forecasts for 2025-2027 are adjusted to 2.493 billion, 3.128 billion, and 3.800 billion respectively, with net profits projected at 10 million, 81 million, and 146 million [5] - The company is optimistic about rapid development in the intelligent connected vehicle and new computer businesses, expecting to turn losses into profits with improved management [5]
诚迈科技:整车操作系统FusionOS已适配高通、英伟达、NXP、地平线、英飞凌等厂家芯片
Ju Chao Zi Xun· 2025-05-20 03:02
近日,诚迈科技在接受机构调研时表示,汽车软件业务方面,公司发布了新一代跨域融合整车操作系统FusionOS,已经全面适配高通、英伟达、NXP、地 平线、英飞凌等芯片厂商的最新产品,可以提供新一代智能座舱域软件平台FusionEX 8.0、中央控制域软件平台FusionWise 3.0、辅助驾驶软件平台 FusionDrive 3.0以及工具链平台Fusion Studio和信息安全和功能安全相关解决方案,并通过打造Arraymo AI OS的AI智能体产品,实现了智能语音互动,并支 持导航、音乐、空调等场景功能,能够为用户提供更出色的智能化体验。 Hin Kin FFI T SHOW IT A Book l 1 t 1 the p 4 re in es gour M tr t THE a l 0.0 t ,但 T 诚迈科技同时参与了鸿蒙电脑应用软件的开发和生态系统的建设,是鸿蒙生态系统里面的一员,也是开源鸿蒙A类捐赠人和开源代码的重要贡献者。 统信软件为诚迈科技参股公司,据了解在信创领域经过长期发展,目前其产品已逐步从可用发展至好用阶段,软硬件适配数量共超过700万款,其中UOS原 生应用超过15000款,在 ...