ZOWEE(SZ:002369) Zheng Quan Shi Bao Wang·2025-04-21 13:48Core Insights - The company reported a total revenue of 1.707 billion yuan for 2024, marking a year-on-year increase of 10.30%, while the net profit attributable to shareholders was -218 million yuan, an increase of 46.93% compared to the previous year [1] - The growth in revenue is primarily attributed to the increase in sales of consumer electronics, alongside cost control measures that improved the gross margin by 4.77% [1] Consumer Electronics Business - The consumer electronics segment achieved a revenue of 629 million yuan in 2024, reflecting a significant year-on-year growth of 37.21% [2] - The global consumer electronics market is showing signs of recovery, with China's total mobile phone shipments reaching 314 million units, a growth of 8.7% [2] - Emerging consumer electronic products, particularly those featuring AI technology, are experiencing explosive demand, contributing to the overall recovery of the sector [2] - Global shipments of TWS headphones reached 330 million units, up 13%, while smart wristbands and smart glasses also saw significant growth [2] Market Outlook for 2025 - The domestic consumer electronics market is expected to maintain good growth in 2025, supported by government policies such as "trade-in" programs and subsidies for new digital products [3] - Analysts predict that the smartphone market in China will see shipments exceed 290 million units in 2025, driven by these subsidy policies [3] Company Positioning - The company focuses on the integration of 5G and AIoT technologies, expanding its market presence in smart terminal devices, smart home, and smart automotive sectors [4] - As a leading manufacturer in the consumer electronics space, the company is well-positioned to benefit from government stimulus policies [4] Network Communication Terminal Business - The network communication terminal segment is the largest for the company, contributing 975 million yuan in revenue, accounting for 63.90% of total revenue [5] - The demand for broadband services, particularly in 5G and gigabit networks, is expected to grow significantly, providing substantial market opportunities [5] - The company has developed a comprehensive product range in the network communication sector, including access devices and wireless coverage equipment [5] R&D and Innovation - The company emphasizes R&D and technological advancement, focusing on cutting-edge technologies to drive future growth [7] - It has developed multiple Wi-Fi7 and 5G wireless communication products, successfully moving them into mass production [7] - The company holds a total of 255 patents, including 95 invention patents, showcasing its commitment to innovation and technology development [7]