电连技术2024年财报亮眼，汽车连接器业务成增长引擎

Core Insights - The company reported a significant increase in total revenue and net profit for 2024, with total revenue reaching 4.661 billion yuan, a year-on-year growth of 48.97%, and net profit of 622 million yuan, up 74.73% [1] - The automotive connector business experienced explosive growth, achieving revenue of 1.461 billion yuan, a year-on-year increase of 77.42%, driven by the rapid development of the new energy vehicle market [4] - The consumer electronics business showed signs of recovery, with revenue from RF connectors and cable assemblies reaching 1.04 billion yuan, a growth of 30.12%, supported by the stabilization of smartphone sales [5] - The soft board business also saw rapid growth, with revenue of 538 million yuan, up 73.06%, benefiting from improved operational efficiency and cost control measures [7] Automotive Connector Business - The automotive connector segment's revenue growth was attributed to the increasing demand for high-frequency and high-speed connectors due to the smart technology trend in vehicles [4] - The company strengthened its partnerships with leading automotive Tier 1 clients, enhancing its market share both domestically and internationally [4] - Despite the strong performance, the company faces intense competition in the automotive connector market and must continue investing in R&D to maintain its technological edge [4] Consumer Electronics Business - The recovery in the consumer electronics sector was driven by the resurgence of smartphone sales, particularly from domestic brands gaining traction in the global market [5] - The company adjusted its market strategy to focus on more profitable clients and products, maintaining stable gross margins [6] - The rapid pace of technological updates and fierce competition in the industry necessitate ongoing market monitoring and product strategy adjustments [6] Soft Board Business - The soft board business's revenue growth was supported by the recovery in industry demand and improved operational metrics from the subsidiary [7] - Effective cost control measures and technical upgrades helped maintain stable gross margins despite the rapid growth [7] - The company needs to accelerate capacity expansion to meet increasing market demand while ensuring product quality and production efficiency [7]