Ledman(SZ:300162)2025-04-27 07:41Financial Performance - In 2024, the company's overseas business revenue increased by 22.1%, effectively offsetting the impact of domestic business contraction, leading to an overall revenue growth of 12.5%[7]. - The company's operating revenue for 2024 reached ¥1,252,559,311.26, representing a 12.52% increase compared to ¥1,113,230,676.08 in 2023[25]. - The net profit attributable to shareholders was a loss of ¥91,880,104.07, which is a 20.14% increase in loss from ¥76,476,976.00 in the previous year[25]. - The company experienced a significant decline in net profit after deducting non-recurring gains and losses, with a loss of ¥109,561,825.93 in 2024 compared to a loss of ¥80,978,622.74 in 2023, marking a 35.30% increase in loss[25]. - The overall gross margin improved to 24.1%, an increase of 1 percentage point year-on-year, while the overseas business gross margin reached 26.5%, up 1.2 percentage points[65]. - The company reported a basic and diluted earnings per share of -¥0.22, unchanged from the previous year[25]. - The company reported a net operating cash inflow of 62.74 million yuan, with an operating cash ratio of 5.01%, demonstrating strong financial resilience[86]. - The company’s total revenue for the reporting period reached ¥1,252,559,311.26, representing a year-on-year increase of 12.52% compared to ¥1,113,230,676.08 in the previous year[92]. Strategic Initiatives - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[10]. - The company is committed to enhancing its international strategy, which has led to increased marketing investments and operational costs[7]. - The company aims to expand its overseas market presence by developing new customers and enhancing existing partnerships, targeting regions such as Asia-Pacific, Middle East, Europe, South America, and Southeast Asia[138][139]. - The company will strengthen its domestic market expansion by enhancing core channel construction and project coverage capabilities, focusing on key industries like government, emergency services, and energy sectors[140]. - The company is building a comprehensive product ecosystem, focusing on commercial and home display markets, and exploring new application scenarios like XR virtual shooting and smart cities[142]. Research and Development - Research and development investments have increased by 30%, focusing on innovative technologies to enhance product offerings[6]. - The company is committed to innovation in the LED industry, leveraging over 20 years of experience in integrated packaging technology and intelligent control[44]. - The company has applied for nearly 800 domestic and international patents, including over 100 related to COB technology, forming a complete independent intellectual property system[60]. - The company is focused on expanding its product offerings in both domestic and international markets, leveraging its technological advancements[105]. - The company is optimizing the development process of glass-based Micro LED display panels to reduce mass production costs and drive industry transformation[145]. Market Trends and Projections - The global LED display terminal market is projected to reach ¥66.3 billion in 2024, with a year-on-year growth of 6.4%[35]. - The global small-pitch and micro-pitch LED display market is expected to grow to ¥39.4 billion in 2024, with a 10% increase, and overseas markets are anticipated to grow by 23.4%[36]. - COB display technology is expected to enter a large-scale commercial phase in 2024, with a year-on-year sales growth of nearly 150%[38]. - The global COB display market is projected to maintain a compound annual growth rate (CAGR) of over 20% from 2025 to 2029, with market size expected to exceed 30 billion yuan by 2028[38]. Risk Management - The company faces risks including macroeconomic environment fluctuations, exchange rate volatility, intensified market competition, and potential core technology leaks[9]. - The company emphasizes the importance of risk awareness for investors regarding future plans and strategic developments[8]. - To mitigate risks, the company plans to strengthen its sales system and optimize market layout while using financial tools like forward foreign exchange contracts and export credit insurance[152]. - The company recognizes the risk of intensified market competition and technological innovation lagging, and aims to leverage its brand and capital advantages to enhance product innovation and market share[153]. Corporate Governance - The company has improved its corporate governance structure in compliance with relevant laws and regulations, ensuring clear responsibilities among governance bodies[161]. - The company has established a performance evaluation and incentive system for its directors, supervisors, and senior management, ensuring transparency and compliance with legal regulations[170]. - The company maintains independence in its operations, with no reliance on the controlling shareholder for production or business activities[175]. - The company has a clear governance structure with a board of directors, supervisory board, and management team operating independently[179]. Sustainability and Social Responsibility - The management team emphasized the importance of sustainability initiatives, with plans to reduce carbon emissions by 20% over the next three years[10]. - The company’s energy-saving COB cold screen technology improves energy efficiency by over 50% compared to similar products, contributing to ESG goals[83]. Shareholder Engagement - During the reporting period, the company held one annual and three temporary shareholder meetings, ensuring shareholder rights are protected[163]. - The company’s annual shareholder meeting had a participation rate of 24.97%[182].