JINHUI(SH:603919) Xin Lang Cai Jing·2025-04-22 02:30Core Insights - The company reported a revenue of 3.02 billion in 2024, representing an 18.6% year-on-year increase, with a net profit attributable to shareholders of 390 million, up 18.0% year-on-year [1] - The revenue structure is optimizing with high-end products leading, mid-range products stable, and a rebound in mass-market products [1] - Internet sales grew significantly, achieving 80 million in revenue, a 43.4% increase year-on-year [3] Revenue Breakdown - In 2024, revenue from products priced above 300 yuan reached 570 million, up 41.2%, accounting for 18.8% of total revenue [1] - Revenue from the core price range of 100-300 yuan was 1.49 billion, a 15.4% increase, making up 49.2% of total revenue [1] - Revenue from products priced below 100 yuan was 850 million, a 4.0% increase, with a 28.1% share of total revenue [1] Regional Performance - Domestic revenue was 2.23 billion, up 16.1%, while revenue from outside the province was 670 million, up 14.7%, both achieving double-digit growth [2] - In Q4 2024, domestic revenue was 510 million, a 24.5% increase, and external revenue was 120 million, a 10.4% increase [2] Future Projections - The company is expected to achieve revenues of 3.34 billion, 3.79 billion, and 4.34 billion in 2025-2027, with year-on-year growth rates of 10.5%, 13.6%, and 14.5% respectively [3] - Net profit attributable to shareholders is projected to be 450 million, 510 million, and 630 million for the same period, with growth rates of 16.3%, 13.3%, and 22.4% respectively [3]