Stock Code: 300394
Subsidiaries
In 2024, the rapid development of new economic models both domestically and internationally, along with the application of artificial intelligence in various scenarios, led to a swift increase in the demand for computing power. This, in turn, has driven the expansion of global data centers and computing power networks. On the other hand, industry competition continues to intensify as the long-term prospects of AI attract more companies to enter the market.
Faced with the complex environment of technological innovation and heightened market competition, TFC seized market opportunities, emphasizing both innovation-driven growth and stable operations. With determination and by leveraging the momentum, TFC deeply integrated its internal technology platforms, accelerated its global industrial layout, and aimed for sustainable business development. By jointly pursuing innovation and transformation, and continuously optimizing cost structures and improving operational efficiency, we achieved high-quality growth in both revenue and net profit in 2024, thanks to the concerted efforts of all employees.
More information about TFC Annual Report : http://www.sc-bt.com/uploads/files/2025/0421/vVg8aXMh9XBiZLOs0zyoOlUYpg83hQzm8aSSfpjF.pdf
During the reporting period, TFC achieved record growth in both revenue and net profit, primarily due to ongoing investment in research and development, automation substitution, and enhanced cost-reduction capabilities in operations.
In 2024, TFC achieved a revenue of USD 452.35million, representing a 65.27% increase compared to the same period last year.
During the reporting period, the accelerated development of the AI industry and the global data center construction led to a sustained and stable increase in demand for high-speed optical device products, which in turn drove revenue growth in TFC’s active and passive product lines. Additionally, the impact of interest income and exchange gains resulted in a year-on-year decrease in financial expenses, positively affecting net profit.
During the reporting period, TFC continued to focus on the optical communication field, deepened its strategic transformation, and optimized its product structure, thereby forming a more robust business ecosystem. At the same time, TFC seized market opportunities arising from the development of artificial intelligence, focusing on its strategic positioning as a provider of comprehensive optical device solutions and advanced optoelectronic packaging manufacturing services. By closely aligning with customer needs, ensuring timely delivery, and enhancing its core business, TFC strengthened its competitive edge. Particularly in the field of high-speed optical devices, TFC maximized its ability to meet customer demands for high-performance products and services by improving its technical innovation capabilities and reinforcing its quality management system.
Global expansion remains a critical initiative for TFC to explore new markets and achieve sustainable development. To further enhance customer service, expand global brand influence, and increase responsiveness to international markets, TFC ensured the provision of stable, high-quality products and services to customers. During the reporting period, TFC steadily advanced the construction of its Singapore overseas headquarters platform and the commissioning of its production base in Thailand. As of the end of the reporting period, the overseas headquarters and Thailand production base have entered normal operations, significantly improving TFC's global resource allocation capabilities and the internationalization of its talent team. TFC's international brand influence has continued to grow. Additionally, TFC actively pursued the development of a trade compliance system, proactively identified and managed risks related to international trade, and ensured business continuity and compliance.
Research and development (R&D) innovation serves as the driving engine for corporate growth. With the rapid global development of next-generation information technologies such as cloud computing, big data, and artificial intelligence, optical devices, as the core components of information transmission, play a critical role in overcoming technical bottlenecks and achieving performance breakthroughs. TFC remains committed to key areas such as high-speed rates, high integration, high precision, and high reliability. Through continued investment in R&D, it drives the innovation and upgrading of optical device solutions. Furthermore, TFC actively invests in cutting-edge technologies in areas such as silicon photonics and co-packaged optics (CPO), while expanding its global high-quality customer base to address the future needs of large-scale data centers and AI computing power networks.
In 2024, TFC's R&D investment reached USD 32.31million, representing a 59.73% increase compared to the same period last year. TFC continued to increase its R&D expenditure, actively exploring new technological applications, striving to maintain its leadership position in niche markets, and simultaneously providing customers with more innovative solutions to support their product launches. As of the end of the reporting period, TFC held more than 200 patents.
Quality is the lifeline and the baseline for TFC's long-term sustainable operations; it is a key foundation for enhancing market competitiveness and customer satisfaction. During the reporting period, TFC was guided by its quality policy of "Precision in Every Product, Quality 120, and Craftsmanship at Tianfu," with "Craftsmanship to Original Intent" as the quality theme. This approach permeated the entire production process and involved all employees, aiming to comprehensively enhance everyone's quality awareness and capabilities. On this basis, TFC continued to optimize process flows, strictly adhered to quality standards, strengthened supply chain collaborative management, and maintained a quality-centric approach. By implementing comprehensive quality management and continuous improvement mechanisms, TFC ensured that product performance and reliability met customer requirements.
During the reporting period, TFC successfully passed the IATF16949 quality management system certification, gaining entry into the automotive industry supply chain. At the same time, Tianfu Thailand achieved ISO9001 quality management system certification. TFC focused on strengthening the high-quality development of its domestic and international business layouts, offering global multi-base production capacity options for clients.
In 2024, TFC seized the opportunity presented by the upgrade of its intelligent manufacturing information systems to fully reconstruct its information system architecture. This promoted the development of digitalization, networking, and intelligent construction, achieving a leap towards smart manufacturing. During the reporting period, TFC upgraded four major information systems: MES (Manufacturing Execution System), WMS (Warehouse Management System), ERP (Enterprise Resource Planning System), and PLM (Product Lifecycle Management System). These upgrades integrated data across R&D, production, supply chain, and quality, strengthening internal controls, reducing risks, improving efficiency, and enhancing the ability to respond quickly to customer demands, thereby providing systematic support for flexible manufacturing for clients.
TFC's goal, oriented by customer needs, was to create an efficient intelligent manufacturing system through system upgrades. By promoting systematic control and lean, automated production, TFC aimed to build a quality-first, efficiently operated digital factory.
Key Business Plans for the Next Year
In 2025, TFC will continue to focus on its core business, responding rapidly and with high quality to the needs of major clients. It will dedicate itself to technological innovation and product upgrades while proactively planning future development paths to achieve high-quality growth. At the same time, TFC will accelerate its global production capacity layout, strengthen R&D investment, and continuously upgrade its products and services to promote steady and sustainable development.
Key business plans include:
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