FAWER(SZ:000030)2025-05-26 10:28Financial Performance - In 2024, the consolidated revenue reached 16.1 billion CNY, an increase of 6 billion CNY from 15.5 billion CNY in the previous year, representing a growth of approximately 3.9% [3] - The total profit for 2024 was 940 million CNY, up by 220 million CNY, with a growth rate exceeding 30% [3] - For Q1 2025, revenue was 3.56 billion CNY, a decrease of 1.3 billion CNY from 3.69 billion CNY in Q1 2024, reflecting a decline of 3.4% [3] - The profit for Q1 2025 was 200 million CNY, with a net profit attributable to shareholders of 160 million CNY, remaining stable compared to the previous year [3] - Gross margin improved to 11.1% in Q1 2025, up from 9.9% in the same period last year, marking a 1.2 percentage point increase [3] Market Development - The external market revenue share increased from 14% at the beginning of the 13th Five-Year Plan to 30% [3] - In 2024, the company secured numerous orders in the new energy vehicle sector, including from BYD, Seres, NIO, and XPeng, significantly enhancing its product line with major domestic automakers [3] - A total of 307 new orders were added in 2024, with 142 orders from external markets, resulting in an external order revenue share of 48% [3] - Over 80% of the new energy orders were related to products covering chassis, thermal management, intelligent networking, and pumps [3] Product Development - The company is a leading supplier of suspension damping systems, with electric dampers covering multiple models under Seres and other major automotive brands [4] - Electric damper revenue grew fivefold in 2024, maintaining a leading market share in the industry [4] - The establishment of joint ventures for intelligent suspension and steering systems aims to enhance product electrification and independent R&D capabilities [6] Future Outlook - The electric damper market is expected to grow rapidly due to increasing demands for intelligent and integrated chassis systems, driven by advancements in autonomous driving and the rise of new energy vehicles [6] - The integration of electric dampers into luxury vehicle configurations is becoming mainstream, enhancing product competitiveness [6]