Dingtong(688668)2024-06-13 09:08Business Overview - The company held a performance briefing for the 2023 fiscal year and the first quarter of 2024, with Chairman and CEO Wang Chenghai delivering the opening remarks [1] - The event was conducted online via the Shanghai Stock Exchange Roadshow Center, with participation from investors and company executives including the CFO and Board Secretary [1] Operational Updates - The Malaysia factory is operational with machinery, equipment, and personnel in place, focusing on new product and customer development while maintaining existing client relationships [2] - The company is adjusting its business strategy in response to profit margin pressures from new energy vehicle customers, emphasizing control systems and high-voltage products [2] - Key clients like Molex and Amphenol remain crucial, with increased orders as the market recovers [3] Financial Performance - Q1 2024 net profit declined year-over-year due to cost pressures from new energy vehicle products and incomplete capacity deployment [4] - Overseas sales revenue in 2023 remained stable compared to 2022, with increased demand and orders from international markets [4] Strategic Initiatives - The company plans to expand its sales team and develop multiple clients in the automotive sector, particularly in new energy vehicles [3] - In the communications sector, the company is focusing on product category expansion and process enhancement, leveraging AI development trends [3] - The company is developing high-end connector products with features like high-speed data transmission, high density, multi-port design, and miniaturization [5] Market Trends - Demand for communication connectors and components is gradually recovering, with increased orders [5] - The company is continuously improving product technology and expanding its overseas market presence, particularly through its Malaysia factory [5]