Union Precision(SH:688210)2024-12-06 07:37Group 1: Company Overview - The company specializes in the research, design, production, and sales of high-precision, high-density, complex-shaped, and aesthetically pleasing precision components, aiming to become a world-leading MIM product manufacturer [2][3] - The company has established a strong reputation in precision manufacturing processes such as MIM, CNC, laser processing, and wire cutting, recognized by top domestic and international clients [3] Group 2: Financial Performance - In the first three quarters of 2024, the company achieved a revenue of CNY 592 million, representing a year-on-year growth of 60.91% [3] - The net profit attributable to shareholders was CNY 52.06 million, with a year-on-year increase of 124.30% [3] - The gross profit margin was 40.51%, an increase of 5.53 percentage points compared to the previous year [3] Group 3: Market Insights - The company views foldable smartphones as a significant growth area, with MIM components being a key contributor to this market [4] - The company has prepared for the foldable smartphone market and has become a supplier for leading brands in this sector [4] Group 4: Production and Expansion - The Changsha factory is in the process of phased equipment purchases and gradual production, while the Vietnam factory is currently handling regulatory procedures [5] - The company is actively expanding its business in non-consumer electronics sectors, such as medical devices and automotive electronics [3] Group 5: Shareholder Engagement - As of November 30, 2024, the company has completed the setup of accounts for its share repurchase plan but has not yet implemented the buyback [6] - The company is committed to adhering to regulations regarding share repurchases and will disclose progress in a timely manner [6]