贝斯特2024年财报：净利润增长9.58%，新能源汽车业务成亮点

Core Insights - Best achieved a total revenue of 1.357 billion yuan in 2024, representing a year-on-year growth of 1.03%, while net profit attributable to shareholders reached 289 million yuan, up 9.58% year-on-year [1] - The significant growth in net profit is primarily driven by the performance of the new energy vehicle (NEV) components business, which saw production and sales increase by over 30% year-on-year [4] Revenue and Profit Analysis - The overall revenue growth rate of 1.03% is substantially lower than the 22.42% growth rate in 2023, indicating a slowdown despite the rapid growth in the NEV components sector [4] - The traditional precision components and intelligent equipment sectors have not shown significant growth, necessitating a restructuring of product offerings to enhance competitiveness [4] Business Segment Performance - The NEV components business has emerged as a key growth driver, while the linear motion components business has made progress but has not yet generated substantial revenue [5] - Breakthroughs in high-precision manufacturing, such as the C0-level ball screw pair, highlight the company's technical capabilities, although the self-developed planetary roller screw is still in the sample stage and lacks revenue generation [5] Global Expansion and Financial Health - Best is accelerating its global layout by establishing "Beyonghua New Technology Co., Ltd." in Thailand to expand production capacity and enhance international competitiveness [6] - However, the net cash flow from operating activities decreased by 46.59% year-on-year to 228 million yuan, indicating significant cash flow pressure, while investment cash flow net amount was -86.3152 million yuan, reflecting increased funding needs during expansion [6] Overall Assessment - Best achieved notable net profit growth in 2024, particularly in the NEV components sector, but faces challenges with slowing revenue growth, underperforming traditional business segments, and cash flow pressures [6]