LY iTECH(002600)2024-06-14 09:43Financial Performance - In 2023, the company achieved an operating revenue of 34.124 billion CNY, with a net profit attributable to shareholders of 2.051 billion CNY, representing a year-on-year growth of 28.50% [2] - For Q1 2024, the company reported an operating revenue of 9.799 billion CNY, a year-on-year increase of 35.83%, while the net profit attributable to shareholders decreased by 28.72% to 461 million CNY [2] - The net profit after deducting non-recurring gains and losses for Q1 2024 was 352 million CNY, down 17.73% year-on-year [2] Business Segments - The automotive business generated revenue of 1.697 billion CNY in 2023, marking a significant year-on-year growth of 43.61% [4] - The photovoltaic energy storage business achieved revenue of 1.555 billion CNY in 2023, with a year-on-year increase of 29.89% [2] - AI-related terminal products contributed approximately 30.687 billion CNY in revenue in 2023, with a gross margin of about 21.62% [2] Strategic Developments - The company is transitioning from a consumer electronics manufacturer to an AI terminal hardware manufacturing platform, focusing on the development of core components for the AI terminal hardware industry [3] - The company is actively exploring new materials, such as carbon fiber, for the design and production of foldable screen structures to enhance product performance and user experience [3] - A significant agreement with a German automotive manufacturer is expected to generate approximately 2.2 billion CNY in revenue from 2025 to 2029 [4] Share Buyback - As of May 31, 2024, the company repurchased 1,537,400 shares, accounting for 0.02% of the total share capital, with a total transaction amount of 7,316,210 CNY [4]