Quectel(603236) 长江商报·2025-04-25 00:31Core Viewpoint - The company, Quectel (移远通信), has significantly improved its operating performance in 2024, driven by a recovery in the IoT market and advancements in technology integration [1][2]. Financial Performance - In 2024, the company achieved a revenue of 18.594 billion yuan, representing a year-on-year increase of 34.14% [1][2]. - The net profit attributable to shareholders reached 588 million yuan, a remarkable year-on-year growth of 548.49% [1][2]. - The non-recurring net profit was 532 million yuan, showing an extraordinary increase of 9287.32% year-on-year [1][2]. Market Trends - The overall demand in the IoT market is showing signs of recovery, with notable trends in edge computing, mixed reality, and large models integrating with IoT [1][2]. - The company has seen good growth in its communication module business and intelligent solutions [1]. Business Development - The company has reported strong growth in various segments, including vehicle modules, smart modules, GNSS modules, antennas, and ODM business [3]. - New growth drivers include industrial intelligence, smart agriculture, AI glasses solutions, AI toy solutions, and AI robot solutions [3]. Future Outlook - For Q1 2025, the company anticipates a revenue of approximately 5.2 billion yuan, reflecting a year-on-year growth of about 31.5% [3]. - The net profit for Q1 2025 is expected to be around 200 million yuan, indicating a year-on-year increase of approximately 265.19% [3]. R&D Investment - The company's R&D expenses reached a record high of 1.669 billion yuan in 2024, contributing to a cumulative investment of 6.699 billion yuan since its listing [4]. - The company has established R&D centers in eight global locations, enhancing its capacity for innovation and development [5]. Technological Contributions - The company is actively involved in the 3GPP global cellular mobile communication standardization organization, contributing to various technological features for 5G standards [4]. - As of the end of 2024, the company has submitted over 50 technical proposals for 5G communication standards and holds more than 100 essential patents recognized by ETSI [5].