MTC(SZ:002429)2025-04-29 09:56Group 1: Industry Outlook - The industry has a broad development prospect, with a focus on light technology and a global smart manufacturing strategy [1] - The LED chip market is projected to grow, with a global market size of approximately $2.96 billion in 2024, reflecting a 9% year-on-year increase [2] Group 2: Company Performance - In 2024, the company achieved a revenue of 20.326 billion yuan, a year-on-year growth of 18.40% [4] - The net profit attributable to shareholders was 1.602 billion yuan, up 0.89% year-on-year, while the net profit after deducting non-recurring items was 1.585 billion yuan, increasing by 3.71% [4][6] Group 3: Growth Drivers - The company focuses on three main businesses: smart terminals, LED industry chain, and optical communication industry chain, aiming for global expansion and AI transformation [3] - The LED industry will leverage Mini/Micro LED technology to enhance R&D and market share [3] - Future strategies include entering the compound semiconductor industry, expanding into areas like indium phosphide and silicon carbide [3] Group 4: Dividend Policy - The company has implemented a positive cash dividend policy, distributing over 800 million yuan in cash dividends in 2022 and 2023 [8] - For 2024, the proposed cash dividend is 1.07 yuan per 10 shares, totaling approximately 484.38 million yuan, pending shareholder approval [8] Group 5: Partnerships - The company has established partnerships with major brands, including Xiaomi, Skyworth, and Samsung, particularly in the Mini LED backlight sector [9] - Its subsidiary has become the largest global manufacturer of Mini/Micro COB display modules [9]