Sinotec(603121) 证券时报网·2025-04-25 02:12Core Viewpoint - Huapei Power reported stable revenue and significant profit growth in 2024, indicating strong operational performance and strategic advancements in both its powertrain and sensor businesses [1][2]. Financial Performance - The company achieved an operating revenue of 1.24 billion yuan in 2024, remaining flat compared to the previous year [1] - The net profit attributable to shareholders after deducting non-recurring items was 50.56 million yuan, representing a year-on-year increase of 7.94% [1] - The net cash flow from operating activities reached 257 million yuan, showing a substantial year-on-year growth of 2905.72% [1] - A cash dividend of 2.00 yuan per share (including tax) is proposed for all shareholders [1] Business Segments Powertrain Business - The powertrain division achieved breakthroughs through strategic collaborations and technological innovations, successfully launching new projects with major clients such as Scania and Mitsubishi Heavy Industries [2] - The Daimler Cup project is highlighted as the largest single project in terms of annual sales, contributing nearly 100 million yuan in 2024 [2] - The company renewed contracts for two significant projects with BorgWarner in December 2024 [2] Sensor Business - The sensor division is identified as a second growth curve, with improved profitability through the integration of subsidiaries [2] - The company maintains a leading market share in the domestic commercial vehicle (diesel engine) sector and is expanding into passenger vehicles [2] - Successful mass production of a natural gas engine pressure and temperature sensor for Bosch was achieved in Q2 2024, with additional projects expected to deliver in 2025 [2][3] Technological Advancements - The sensor division established a special team for the development of the third-generation WPTC heater, overcoming patent barriers and achieving over 20 independent patents [3] - The subsidiary, Shengmei Chip, completed the design and production of several automotive-grade MEMS products, meeting stringent automotive standards [3] Strategic Initiatives - The company is preparing to establish a robotics division in response to market demands and existing technological capabilities [4] - An overseas business department was officially established in April 2024, focusing on market expansion in North America and Europe [4]