TES(SZ:003019)2024-11-04 08:05Financial Performance - In the first three quarters of 2024, the company achieved a revenue of 1.866 billion CNY, representing a year-on-year growth of 50.29% [1] - The net profit attributable to shareholders was 163 million CNY, with a year-on-year increase of 44.11% [1] - In Q3 2024, the company reported a revenue of 557 million CNY, which is a decrease of 13.62% compared to the previous quarter, but an increase of 34.70% year-on-year [1] Business Growth and Strategy - The company has successfully expanded its ODM business by acquiring several global clients, laying a foundation for future growth [1] - The OBM business has secured a project with a well-known North American restaurant chain, expected to enter mass production next year [1] - The automotive display segment is projected to transition to mass production for domestic designated models next year [2] Cost Management and Profitability - The automotive display segment is currently operating at a loss, with plans to enhance customer marketing and adjust product lines to improve gross margins [2] - Increased expenses this year are attributed to the implementation of a restricted stock incentive plan and higher R&D investments due to new client acquisitions [3] Client Acquisition and Market Position - The company has successfully entered the supply chain of a major traditional automotive group in China and is actively expanding its high-value client base [4] - The company is closely monitoring new business opportunities in the North American market, particularly with new clients and projects [5] Future Outlook - The company maintains an optimistic outlook for its main business growth in the coming year, supported by a solid client reserve and progress in brand development for Microtouch [7] - The company plans to continue expanding its self-owned brand business, which has seen a revenue growth of over 28% year-on-year in the first three quarters of 2024 [8] Shareholder Returns and Corporate Governance - The company has maintained a high dividend payout ratio of 40%-50% since its listing in 2020, with future dividends to be determined based on financial status and development plans [11] - The controlling shareholder has increased their stake, and while there are no immediate plans for share buybacks, the company may consider refinancing for significant acquisition opportunities [12]