Core Insights - 瑞声科技 reported record high revenue of RMB 27.33 billion for the fiscal year 2024, representing a year-on-year growth of 33.8% [1] - The gross profit margin improved to 22.1%, an increase of 5.2 percentage points year-on-year, while net profit surged by 142.7% to RMB 1.8 billion, indicating a significant enhancement in profitability [1] - The automotive acoustic business achieved revenue of RMB 3.52 billion with a gross profit margin of 24.8%, demonstrating resilience in a competitive market [1] Company Developments - 瑞声科技 completed the first phase of the acquisition of Premium Sound Solutions (PSS) in February 2024, now holding 80% equity in PSS, which will be consolidated into 瑞声科技's overall performance [1] - PSS is a leading global supplier of high-end audio systems with over 50 years of experience in the automotive industry, serving as a Tier 1 supplier for several automotive OEMs [1] Market Position and Strategy - Following the acquisition, 瑞声科技 has integrated resources to create a vertically integrated solution encompassing speakers, amplifiers, algorithms, and tuning services, enhancing customer loyalty and facilitating rapid commercial expansion in the automotive acoustic market [2] - PSS holds a leading market share among top-tier automotive companies in Europe and the US, reinforcing 瑞声科技's strong influence in the global automotive acoustic sector [2] - 瑞声科技 and PSS's products are supplied to prominent new energy vehicle brands in China, including 理想, 吉利, 小米, and 小鹏, with their NLC Pro algorithm being adopted by leading luxury car brands [2]
瑞声科技车载声学营收35.2亿，已供货理想、吉利、小米等热门车型