Core Insights - Qianhe Capital recently conducted research on a listed company, Nichiren Technology, revealing strong growth in revenue and net profit for 2024 and Q1 2025 [1] Financial Performance - In 2024, Nichiren Technology is projected to achieve revenue of 739 million, a year-on-year increase of 25.89%, and a net profit of 143 million, up 25.44% [1] - For Q1 2025, revenue is expected to reach 200 million, reflecting a year-on-year growth of 33.19%, while net profit is anticipated to be 35.33 million, a growth of 4.45% [1] - The slower growth in net profit compared to revenue is attributed to increased share-based payment expenses and enhanced market expansion efforts [1] Market Demand and Orders - The company has a robust order backlog, with new orders experiencing rapid growth, primarily driven by the recovery in demand from the electronic semiconductor and lithium battery industries, as well as increased demand for automotive component testing [1] - Nichiren Technology expects to maintain year-on-year revenue growth throughout the year, with a projected revenue growth rate of no less than 60% for 2025, or a non-recurring net profit growth rate of no less than 60% [1] Product Development and Expansion - The company is actively expanding its X-ray source product line and developing multi-mode CT intelligent detection equipment [1] - Nichiren Technology has established Nichiren Technology Research Institute and Shanghai Ruitai subsidiary, while its subsidiary Nichiren Vision is entering the foreign object detection market [1] International Market Strategy - The company is intensifying its efforts in overseas markets, having established subsidiaries or factories in Singapore, Malaysia, Hungary, and the United States, with overseas sales revenue in 2024 expected to reach 59.16 million, a year-on-year increase of 20.18% [1] - The impact of international tariff changes on the company is limited and manageable, with its global layout mitigating tariff fluctuations [1] M&A Strategy - Nichiren Technology is actively seeking acquisition targets, aiming to achieve phased results by investing in companies that synergize with its X-ray detection technology [1]