EWPT(300115) 金融界·2025-04-18 08:08Core Viewpoint - Longying Precision achieved significant growth in 2024, with total revenue reaching 16.934 billion yuan, a year-on-year increase of 23.40%, and net profit attributable to shareholders soaring by 800.24% to 772 million yuan, despite a low dividend payout ratio of 22.85% raising market concerns [1][9] Group 1: Consumer Electronics Business - The global consumer electronics market showed signs of recovery in 2024, with smartphone shipments increasing by 6.4% to approximately 1.24 billion units [4] - Longying Precision's revenue from the consumer electronics segment reached 11.691 billion yuan, up 15.39% year-on-year, driven significantly by international clients [4] - There remains room for improvement in market share within the consumer electronics sector, necessitating product structure optimization and enhanced technological content to address future market fluctuations [4] Group 2: New Energy Business - Revenue from the new energy segment reached 5.214 billion yuan, marking a year-on-year growth of 47.29% [5] - The gradual release of production capacity from battery component manufacturing bases in various regions supports the rapid growth of the new energy business [5] - Participation in industry events, such as the second Beijing Chain Expo, has enhanced the company's market visibility and laid a solid foundation for future business expansion [5] Group 3: Robotics and Intelligent Equipment - The rapid development of generative AI and large language models has propelled humanoid robots into commercial applications [6] - Longying Precision accelerated the construction of humanoid robot production capacity and increased R&D investment, securing projects with several domestic and international clients [6] - Although still in its infancy, the robotics and intelligent equipment sector holds significant market potential, with ongoing technological advancements expected to drive future growth [6] Group 4: Global Production Base Development - The construction of global production bases progressed rapidly in 2024, with multiple domestic and overseas projects advancing as planned [7] - Cost management initiatives across various factories have significantly improved the company's cost management capabilities, ensuring sustainable profitability [7] - Despite successful progress, challenges remain in overseas market operations due to policy risks and competitive pressures [7] Group 5: Team Building and Employee Satisfaction - Longying Precision has enhanced its management capabilities through a stable team built via external recruitment and internal development [8] - The implementation of a new salary structure has improved employee motivation and satisfaction [8] - Continued investment in talent acquisition and development is necessary to meet future business expansion and market competition demands [8] Group 6: Dividend Policy - The company plans to distribute a cash dividend of 1.3 yuan per 10 shares, totaling 176 million yuan, which represents only 22.85% of the net profit for 2024 [9] - The low dividend payout ratio, despite significant profit growth, has raised concerns among investors regarding future returns [9] - There is an expectation for the company to increase its dividend payout ratio to enhance investor confidence [9]