Dongguan Tarry Electronics Co., Ltd.
达瑞电子
300976
Shenzhen Stock Exchange
Company Profile
(I) Stable and Premium Customers Resources The company adheres to a customer-first philosophy and has been deeply engaged in the consumer electronics industry for over two decades, accumulating a large and high-quality stable customer base that covers key segments of the industrial chain. These include internationally renowned consumer electronics terminal brands customers such as Apple, Sony, Microsoft, Meta, Bose, Lenovo, Jabra, Sennheiser, Sonos, Samsung Display, etc., well-known domestic and international Flexible Printed Circuit suppliers such as Avary Holding, MFLEX, COMPEQ, Flexium Technology, Fujikura Electronics and Amphenol, as well as prominent consumer electronics EMS customers including Luxshare Precision, Goertek Inc. and Foxconn. Leveraging its critical supporting role in customers' new product R&D and production, along with the widespread application and layout of precision component products in various AI terminal hardware, the company continues to deepen long-term cooperation with representative high-quality customers in each sub-sector of the electronics industry. With AI technological innovation driving industry development and the upgrading of customers' high-end demand, the company is expected to seize the opportunity of rapid growth in the edge AI hardware market and initiate a new round of high-quality growth. Moreover, since strategically entering the new energy sector in 2022, the company has actively expanded its structural and functional components business and successfully entered the supply chain systems of global leading enterprises in the new energy industry, including CATL, BYD, Tesla. By providing high-quality products and services to leading customers while simultaneously strengthening internal capability building, the company has laid a solid foundation for further expanding into other high-quality customers in the fields of power battery, vehicle manufacturing, and energy storage systems. (II) Material Technology Innovation Advantages The company closely follows industry development trends and strives to become a comprehensive solution provider for lightweight materials in edge AI through multiple measures including technology advantage conversion, strategic mergers and acquisitions, and forward-looking R&D reserves. Based on long-term cooperation with global major customers, the company's understanding of materials and its grasp of customer needs have formed its own unique advantages. According to the development trends of technology, materials, and market demand, the company conducts forward-looking technical reserves and independent R&D layouts, and actively participates in customers' cutting-edge R&D processes, providing customers with a series of high-value-added comprehensive solutions from materials, design, prototyping, to mass production. The company has always prioritized innovation through continuous R&D. The company and its subsidiaries have been awarded honors such as "National High-Tech Enterprise", "Specialized, Sophisticated, Distinctive, and Innovative SMEs" certified by Guangdong Province's Department of Industry and Information Technology, which acknowledge and affirm their professional technical level, R&D innovation capability, business development, and overall strength. As of the end of the reporting period, the company has accumulated 247 patents (including 20 invention patents, 221 utility model patents, and 6 design patents) and 26 software copyrights for self-owned intellectual property rights related to core processes, innovative materials, key technologies, and equipment improvements, thereby protecting the technological advantages of the company's products and forming certain technological barriers. (III) Intelligent Manufacturing Advantages The company has built a lean management system across the entire industrial chain based on intelligent manufacturing technologies, achieving optimal overall costs through digital means.. By deeply applying intelligent systems such as ERP and MES, the company has established a data-driven cost control system. On the one hand, the intelligent scheduling system enables centralized production of work orders, reducing equipment changeover frequency and improving machine efficiency. On the other hand, automated inspection equipment and modular design enhance production efficiency and raw material utilization rates. In the supply chain segment, the intelligent procurement platform realizes centralized bargaining and big data analysis, forming strategic synergy with core suppliers to effectively control material costs. Regarding quality control, the company has established a fully digital quality management system throughout the process. Intelligent standard verification systems are introduced at the R&D design stage to ensure controllable quality from the source; online inspection equipment and intelligent traceability systems are deployed in the production process, significantly improving the yield rate of key processes; through the quality early warning platform, various quality parameters are monitored in real time, enabling product reliability to reach industry benchmark levels. The company will continuously deepen the upgrade of intelligent manufacturing, empowering the lean management system and quality control system through intelligent manufacturing, further consolidating its dual competitive advantages in cost control and quality reliability, and creating greater value for customers. (IV) Corporate Culture and Organizational Capability The company places great emphasis on corporate culture development and adheres to the mission of "Crafting with dedication, Co-creating the future". It embeds the principle of "Customer First" into the entire operation of the company, always considering issues from the customer's perspective and striving to exceed customer expectations to achieve its vision of "Dedicated to becoming the best supporting player for global benchmark customers". The company encourages employees to become "open, self-reflective, and committed to continuous improvement" individuals, promoting positive energy and enhancing employee identification and cohesion. It strengthens cultural awareness and fosters an uplifting organizational atmosphere, encouraging the formation of work concepts and behavioral habits within the company that improve overall efficiency and collaboration levels. The corporate culture gene of prioritizing "Customer First", combined with the proactive, mindful, and united spirit of all employees from top to bottom, and the strong organizational capability centered around achieving organizational goals with shared determination and active progress, constitute important components of the company’s core competitiveness.
Full description
The company adheres to the Major Account Strategy, mainly engaged in precision functional components, structural components, and automated equipment businesses. By continuously strengthening its core capabilities of "Material Innovation×Process Breakthrough×Intelligent Manufacturing Systems", the company has become a core supplier for leading customers in the fields of "edge AI" and "new energy" . (I) Main Businesses 1. Consumer Electronics Business In the consumer electronics sector, the company primarily engages in the R&D, production, and sales of functional components and structural components (customized component products, distinct from standardized products). Through deepening cooperation with customers, the business has further expanded to include R&D, production, and sales of automated equipment required for customers to incorporate these customized component products into their production processes. These products are applied in various electronic products such as smartphones, laptops, tablets, wearable devices (smartwatches, XR goggles/headsets), smart audio/entertainment devices (headphones, gaming consoles). 2. New Energy Business In the new energy sector, the company primarily engages in the R&D, production, and sales of precision structural and functional components (customized component products, distinct from standardized products), which are applied in terminal products such as new energy vehicles, power batteries, energy storage batteries, energy storage systems, and photovoltaic inverters. (II)Key Performance Drivers In the first half of 2025, the company achieved revenue of RMB 1,404.8987 million, net profit attributable to shareholders of RMB 132.0822 million, and net cash inflow from operating activities of RMB 80.9178 million. On the basis of high growth in the previous year, these figures represent increases of 28.04%YoY, 25.32%YoY, and 23.80%YoY, respectively. The company's operational quality continues to improve, demonstrating strong development resilience. 1. Consumer Electronics Business In the first half of 2025, the company's consumer electronics business achieved a revenue of RMB 807.1565 million(an increase of 5.91% YoY), among which the structural components business stood out, achieving a revenue of RMB 431.7103 million (an increase of 39.07% YoY). The company's consumer electronics business is currently at a critical stage of consolidating its basic foundation and promoting the transformation of emerging growth drivers. In the first half of 2025, thanks to the remarkable effectiveness of the company's deepened strategy for major customers, the overall share of core customer projects has continued to increase, effectively offsetting the impact of fluctuating demand from some customer in functional components business, the company's basic foundation has become more stable. At the same time, following the path of "old customers with new products, old products with new customers", the progress of new projects and new customer development of the company is good. For example, it is accelerating the penetration of fiberglass composite material solutions in multiple scenarios such as protective cases for tablets/e-readers, back covers for phone batteries, and keyboard shells. The company continues to convert the advantages of lightweight material technology into market competitiveness, accumulating emerging growth momentum for performance improvement. To seize the window of opportunity for the explosive demand in edge AI hardware, the company rapidly integrated and built a comprehensive "fiberglass-carbon fiber" solution through strategic acquisition of WSD (specializing in carbon fiber product R&D and production). It is also simultaneously advancing the R&D of lightweight alloys and other materials to create a lightweight material technology platform, developing innovative composite lightweight structural components to meet the needs of leading customers in the high-end consumer electronics and edge AI industries. Through multiple measures such as technology advantage conversion, strategic mergers and acquisition, and forward-looking R&D reserves, the company is committed to becoming a comprehensive solution provider for lightweight materials in edge AI with potential for full-scale future growth. 2. New Energy Business In the first half of 2025, the company's new energy business achieved revenue of RMB 584.9638 million, representing an increase of 81.32% YoY. The growth momentum stems from large-scale delivery of orders from leading customers (volume), increased proportion of high-value-added products (price), and cost reduction and efficiency improvement through intelligent manufacturing (profit). (ⅰ) Volume: Since strategically entering the new energy sector in 2022, the company has rapidly entered the supply chains of leading customers in power battery, vehicle manufacturing, and energy storage systems through the precise Major Account Strategy. The clustering effect of these leading customers has driven continuous revenue growth. (ⅱ) Price: the company implemented a penetration strategy "from single product to multiple products", extending from basic structural components to high-performance electrical connectors, headlight heat sinks, motor silent cover plates, and other products. The application scenarios expand from battery systems to core vehicle components such as electric drives and headlights, forming comprehensive solutions covering power/energy storage batteries and motor control modules. Technical depth and added value increase simultaneously, gradually enhancing the value per customer. (ⅲ) Profit: In response to intense competition in the new energy industry, the company transfers its long-established precision manufacturing capabilities from the consumer electronics sector to the new energy business. Through intelligent manufacturing upgrades (such as more comprehensive and in-depth automated production and information management) and a series of refined management strategies, the company reduces production and management costs while improving product yield, achieving cost reduction and efficiency enhancement. In summary, the fixed cost reduction due to scale effects, cost savings and efficiency gains from intelligent manufacturing, and the increased proportion of high-value-added products collectively contribute to improved profitability in the new energy business.