SIASUN(SZ:300024) 3 6 Ke·2025-03-25 11:51Core Viewpoint - The company, Yujiang Technology, reported a revenue of 374 million RMB for 2024, marking a 30.3% year-on-year increase, while net losses narrowed to 95.36 million RMB, a reduction of 7.6% compared to the previous year. The adjusted net loss was 36.5 million RMB, down 55.4% year-on-year, with a gross margin of 46.6%, up 3.1 percentage points [1][4][11]. Group 1: Revenue and Profitability - Yujiang Technology's revenue growth is driven by significant increases in sales of six-axis and composite robots, with six-axis robot sales reaching 209 million RMB, a 55.5% increase year-on-year, and composite robot revenue at 56.55 million RMB, up 64.8% [4][6][8]. - The commercial application segment saw the most substantial growth, with revenue soaring 111.6% to 25.58 million RMB, attributed to new product launches like automated coffee stations [5][9]. - Despite the overall revenue increase, the company remains in a loss position, indicating ongoing financial challenges [1][3]. Group 2: Market and Product Strategy - The company has strategically focused on six-axis and composite robots, enhancing its product matrix to meet rising market demands in various sectors, including manufacturing and retail [8][9]. - Yujiang Technology's domestic revenue reached 173 million RMB, a 47.4% increase, while overseas revenue was 201 million RMB, up 18.5%, though its share of total revenue decreased by 5.3 percentage points [10]. - The company plans to adopt a dual-driven strategy of upgrading collaborative robots and innovating embodied intelligent robots to establish a new paradigm of human-machine collaboration [15]. Group 3: Expenses and Investments - Total expenses for Yujiang Technology rose to 506 million RMB, a 21.6% increase, with administrative expenses surging 67.2% to 88.82 million RMB, largely due to costs associated with the company's IPO [11][12]. - Research and development expenditures were 71.79 million RMB, a slight increase of 1.8%, reflecting the company's commitment to enhancing collaborative robot efficiency and developing new intelligent robot products [13]. - The company has launched 27 models of collaborative robots, covering a wide range of applications across various industries, and is accelerating its layout in embodied intelligent robots [13][15].