Darbond Technology (688035)2024-05-23 08:26Group 1: Company Overview - In 2023, the company achieved total revenue of 932 million yuan, a year-on-year increase of 0.37% [1] - The net profit attributable to the parent company was 103 million yuan, showing a decline compared to the previous year [1] - The first quarter of 2024 saw revenue of approximately 203 million yuan, an increase of 16.53% year-on-year [2] Group 2: Revenue Structure Changes - The revenue share of the integrated circuit and smart terminal sectors increased, while the share of the new energy sector decreased [2] - The smart terminal sector experienced significant growth, while the new energy sector remained flat year-on-year [2] Group 3: Profit Margin and Cost Management - The decline in gross margin in the first quarter was primarily due to price reductions in the new energy supply chain, particularly in lithium battery materials [2] - The company is implementing cost reduction measures to mitigate the impact of price declines on profits, including optimizing production efficiency and enhancing procurement strategies [6] Group 4: Product Applications and Market Position - DAF film is mainly used in multi-layer chip stacking and has been validated by over 10 companies, with small batch shipments currently in progress [3] - The company’s products in the TWS earphone market have a unit value of approximately 1-2 yuan, with similar values for both Apple and domestic brands [5] - The smartphone unit value demand ranges from tens to over a hundred yuan, with the company having a low market share but potential for growth with new technology iterations [5]