Dingtong(688668) 金融界·2025-04-17 23:33Core Viewpoint - 鼎通科技 achieved significant revenue growth in 2024, driven by advancements in AI technology and strong performance in its communications and automotive sectors, despite challenges from its Malaysian subsidiary's losses [1][4][7]. Group 1: Financial Performance - The company reported total revenue of 1.032 billion yuan, a year-on-year increase of 51.12% [1]. - Net profit attributable to shareholders reached 110 million yuan, up 65.74% year-on-year [1]. - The non-GAAP net profit was approximately 92.7 million yuan, reflecting a growth of 56.89% [1]. Group 2: Communications Business - The communications segment saw significant growth, with the successful mass production of 112G products in Q2 2024, meeting the rising demand for high-speed data transmission [4]. - Key clients include major companies such as Amphenol, Molex, and TE Connectivity, indicating a strong market position [4]. - New product series developed in collaboration with clients are set to begin mass production in Q4 2024, further solidifying the company's leadership in the communications industry [4]. Group 3: Automotive and New Energy Business - The automotive connector segment experienced a revenue increase of 25.21%, with a gross margin of 23.50% [5][6]. - The company has established solid partnerships with leading brands like BYD, FAW, and Changan, enhancing its market presence in the electric vehicle sector [5]. - A strategic product structure optimization was implemented, focusing on high-margin products while phasing out loss-making items [5][6]. Group 4: Malaysian Subsidiary Challenges - The Malaysian subsidiary reported initial losses due to high startup costs and underutilization, with a revenue of approximately 10.06 million yuan and a net loss of about 1.05 million yuan [7]. - Future plans include optimizing production processes, increasing automation, and enhancing R&D capabilities to adapt to market changes [7]. - The subsidiary aims to localize procurement to mitigate supply chain risks and establish long-term partnerships with local suppliers [7].