SUNWAY COMM(SZ:300136)2025-05-08 10:32Financial Performance - In 2024, the company achieved a total revenue of approximately CNY 8.744 billion, representing a year-on-year growth of 15.85% [1] - The net profit attributable to shareholders was about CNY 662 million, with a year-on-year increase of 26.89% [1] - In Q1 2025, total revenue was approximately CNY 1.743 billion, showing a decline of 6.19% year-on-year [2] - The net profit attributable to shareholders for Q1 2025 was approximately CNY 77.49 million, down 48.90% year-on-year [2] Business Development - The company’s main business includes antennas and modules, wireless charging modules, EMI/EMC components, precision connectors, automotive interconnect products, and passive components [3] - The company is actively investing in emerging fields such as commercial satellite communication, smart vehicles, energy storage, data centers, and robotics, which are expected to become new growth drivers [3] - The precision structural components business has shown positive progress, with mass production of stainless steel battery shells enhancing device performance [3] Second Growth Curve - The commercial satellite communication sector is anticipated to grow rapidly over the next five years, with the company already supplying major clients [4] - The smart vehicle business is a key strategic focus, with the company expanding its client base and product offerings [5] - The company is accelerating the implementation of strategic product lines, including RF devices and wireless charging modules [5] Global Expansion - Since acquiring Laird in 2012, the company has been enhancing its global footprint, establishing production bases in Vietnam and Mexico [6] - The company’s products are primarily delivered to assembly plants in bonded zones, unaffected by international trade changes [6] Share Buyback and Incentives - The company initiated its first share buyback plan in August 2024, with a budget of CNY 200 million to CNY 400 million [7] - As of now, 15,100,031 shares have been repurchased, costing approximately CNY 268 million, which is 1.56% of the total share capital [8] - The company’s stock incentive plan aims for net profits of no less than CNY 780 million and CNY 1.04 billion for 2025 and 2026, respectively [8] Future Outlook - Despite uncertainties in the international landscape, the industry is expected to continue its recovery due to emerging technologies and market demand [9] - The company is committed to enhancing its core competitiveness through investments in foundational materials and technologies [9] - Management is confident in achieving the 2025 operational goals and has prepared strategies to address various challenges [9]