TES(SZ:003019)2025-05-23 08:44Group 1: Company Performance - In 2024, the company achieved revenue of 2.214 billion CNY, a year-on-year increase of 31.76% [3] - The net profit attributable to shareholders was 188 million CNY, up 18.16% year-on-year [3] - Growth driven by strong demand from European clients, expansion of MicroTouch™ brand, and new products from subsidiary Hongtong Technology entering mass production [3] Group 2: Strategic Plans for 2025 - Focus on three main business segments: ODM, MicroTouch™ brand, and smart cockpit, with strategic adjustments for collaborative development [3] - Continuous improvement of the global manufacturing system to enhance core competitiveness [3] - Ongoing enhancement of core technology R&D capabilities [3] - Development of an efficient global team to expand and maintain global customer relationships [3] Group 3: Impact of Tariffs and Trade - Current tariff rates for exports to the U.S. are between 20-30% due to recent adjustments [4] - Limited short-term impact on business due to product exemptions in the U.S. customs list, but potential long-term benefits if tariff policies stabilize [4] Group 4: Factory Developments - The Thailand factory achieved mass production in 2024, establishing a dual factory layout for smart cockpit business [5] - Plans to expand production capacity in Thailand with new assembly lines to enhance supply chain resilience [5] Group 5: Market Expansion and Product Strategy - The company is evaluating the possibility of establishing factories in Europe and the U.S. to mitigate geopolitical risks [6] - As of the end of 2024, the smart cockpit industry application increased to 30%, while retail remains the largest sector at over 40% [7] - Sufficient orders on hand for Q2 2025, with management aiming to meet revenue targets despite challenges [8] Group 6: MicroTouch Brand Development - In 2025, the focus will shift from channel construction to product development, enhancing product design capabilities to increase market share and brand value [9] Group 7: Automotive Display Business - Multiple vehicle models will enter mass production in 2025, targeting both new energy vehicles and traditional car manufacturers [10] - Strategies to improve gross margins in the automotive display sector include new customer acquisition and optimizing product structure [11]