SACO(002025) 新浪财经·2025-04-04 06:14Core Viewpoint - The company reported a significant decline in net profit for 2024, primarily due to a temporary slowdown in demand within the defense industry, but it is optimistic about future recovery and growth opportunities in emerging markets and new industries [2][3]. Financial Performance - In 2024, the company achieved a revenue of 50.25 billion, a year-on-year decrease of 19.08%, and a net profit attributable to shareholders of 3.47 billion, down 53.75% year-on-year [2]. - The gross profit margin for 2024 was 38.34%, reflecting a slight increase of 0.35 percentage points compared to the previous year [2]. Industry Outlook - The defense industry is expected to recover in 2025, with strong demand rebound anticipated as it marks the end of the "14th Five-Year Plan" period, leading to an acceleration in order placements [3]. - The company, as a core upstream component supplier, is positioned to benefit from the anticipated industry turnaround, with projected related sales of 2.2 billion in 2025, representing a 173% increase from 2024 [3]. Strategic Initiatives - The company is actively expanding into strategic emerging industries such as new generation information technology, artificial intelligence, and renewable energy, with 30 key research projects and 40 major industrialization projects initiated in 2024 [4]. - Ongoing construction projects, including the Huazhong industrial base and new factory facilities, are expected to enhance the company's production capabilities and market competitiveness [4]. Profit Forecast - The company is projected to see a rebound in performance, with estimated revenues of 67.44 billion, 84.11 billion, and 99.71 billion for 2025, 2026, and 2027 respectively, and net profits of 8.05 billion, 9.84 billion, and 11.91 billion for the same years [5].