donghua test(300354)2025-04-25 09:50Financial Performance - In 2024, the company achieved a revenue of 502 million CNY, representing a year-on-year growth of 32.79% [2] - The net profit attributable to the parent company was 122 million CNY, with a year-on-year increase of 38.90% [2] Seasonal and Client Impact - The company's performance experiences seasonal fluctuations due to its primary clients being research institutions, universities, and large enterprise R&D departments [3] - Accounts receivable are generally healthy, with some delays in payment cycles influenced by client budgets and approval processes; however, the risk of bad debts is considered manageable [3] Market and Product Insights - Current tariff policy changes have a limited direct impact on the company's operations, as it maintains strong competitiveness in the market [3] - The electrochemical sector is experiencing robust growth, driven by favorable policies and the trend towards domestic substitution; primary clients include universities and research institutions [3][5] Future Growth Drivers - The company is recognized as a leading provider of structural mechanics performance research and electrochemical workstation solutions, with a strong brand image and a solid customer base developed over 30 years [5] - Future demand for the company's products is expected to rise due to policies favoring domestic substitution and self-sufficiency, prompting the company to optimize product performance and expand application scenarios [5]