赛腾股份：对于明后年消费电子板块很有信心

Core Viewpoint - The company expresses strong confidence in the growth of the consumer electronics sector in the coming years, driven by multiple opportunities in camera module assembly and testing equipment, as well as innovations in terminal products like smartphones and wearables [1][2]. Group 1: Consumer Electronics Growth - The company believes there is significant potential for domestic substitution in the camera module assembly and testing equipment market, which has been predominantly led by foreign companies [1]. - Continuous innovation in camera modules is expected to provide substantial market increments, with the company successfully entering this market and anticipating orders for various camera modules next year [1]. - The acceleration of AI development is expected to drive innovation in terminal products, with the company poised to secure more orders for assembly and testing equipment for products like smartphones, smartwatches, and headphones [1]. Group 2: Financial Performance - For the first three quarters of 2024, the company reported revenue of 3.194 billion yuan, a year-on-year increase of 21.76%, and a net profit attributable to shareholders of 475 million yuan, up 18.99% [2]. - The third quarter alone saw total revenue of 1.563 billion yuan, reflecting a year-on-year growth of 28.15%, with a net profit of 321 million yuan, an increase of 8.53% [2]. - The company attributes its revenue growth to successful orders in camera and other front-end module businesses, as well as its status as a core supplier of automation equipment for major 3C clients [2]. Group 3: Semiconductor and New Energy Developments - The company has a strong technical foundation in semiconductor packaging and testing automation equipment, achieving breakthroughs in laser marking and cutting, and has received bulk orders from clients like ASE [3]. - Although the revenue contribution from the new energy sector is currently small, the company remains optimistic about its future development prospects [3]. - The semiconductor revenue accounted for nearly 12% of total revenue in the first three quarters of 2024, with ongoing projects in wafer testing and other areas showing positive progress [2].