Ellington(SH:603328)2024-08-30 10:09Group 1: Company Overview - The company specializes in high-precision, high-density, and high-reliability printed circuit boards (PCBs) widely used in automotive electronics and new energy sectors [1] - The two core application areas for the company are automotive electronics and new energy [1] Group 2: Financial Performance - In the first half of 2024, the company achieved operating revenue of CNY 175,352.80 million, representing a year-on-year increase of 9.54% [1] - The net profit attributable to shareholders was CNY 26,028.12 million, with a year-on-year growth of 41.05% [1] Group 3: Strategic Initiatives - The company focuses on market expansion, quality improvement, cost reduction, and cultural development as part of its operational strategy [3] - Since the change in shareholding in 2021, the company has emphasized a customer-centric marketing approach and a high-quality product strategy [3] Group 4: Management Changes - Following the acquisition by Jiuzhou Group, the company has restructured its management team, enhancing organizational efficiency and competitiveness [4] Group 5: Development in Automotive Electronics - The company has established long-term cooperative relationships with leading domestic and international automotive parts manufacturers [4] - It continues to implement a major customer strategy, enhancing market share in the automotive electronics sector [4] Group 6: Investment and R&D - In the first half of 2024, the company invested CNY 7,009.58 million in R&D, a year-on-year increase of 13.29%, accounting for 4% of operating revenue [5] - Key technological advancements include improvements in OZ thick copper technology, HDI processes, and radar product capabilities [5] Group 7: Future Outlook - The company aims to deepen its presence in the PCB industry, focusing on high technology and quality to meet market demands, with a vision of becoming a top 100 enterprise and achieving a CNY 10 billion target [5]