Business Overview - The company operates in three main business areas: smart automotive, smart home, and panoramic/sports cameras, with emerging fields like AI hardware, machine vision, industrial inspection, and medical technology driving growth [1][2]. - The overall business structure has not shown significant changes in the first half of 2025, and detailed operational performance will be disclosed in future reports [1]. Product Features and Competitive Advantage - The panoramic camera module features ultra-high definition, wide-angle, and large aperture, providing a competitive edge due to the company's early entry into the market and mastery of core optical lens and module technologies [2]. - The company offers integrated solutions combining optical lenses and camera modules, supported by a complete precision manufacturing line [2]. Production Capacity - The company maintains a high capacity utilization rate and has added dedicated production lines to meet customer shipping demands [3]. - The "Optical Lens and Module Capacity Expansion Project" is progressing smoothly, gradually releasing additional capacity [3]. Market Outlook - The smart home business is one of the company's core areas, with plans to increase market share. Statista predicts the global smart home market will reach $231.6 billion by 2028, with a compound annual growth rate (CAGR) of 10.69% from 2024 to 2028 [4]. - The company is developing AI glasses, with some projects entering the product validation stage, as the AI+ consumer market gains traction [4]. Financial Performance - The decline in gross margin in Q1 2025 is attributed to lower margins on camera modules, primarily due to high chip costs and suboptimal yield rates for new products [5]. - The company aims to maintain a stable gross margin by optimizing product structure, controlling raw material costs, and improving product yield rates [5].
弘景光电(301479) - 2025年7月8日投资者关系活动记录表