Lucky Harvest(002965) 新浪财经·2025-04-23 12:35Core Viewpoint - The company reported a revenue increase of 18.25% year-on-year for 2024, but experienced a decline in net profit by 11.63%, indicating challenges in profitability despite revenue growth [1]. Financial Performance - The company achieved a total revenue of 6.744 billion yuan in 2024, with a net profit of 359 million yuan and a non-recurring net profit of 348 million yuan, both showing declines compared to the previous year [1]. - The gross margin for 2024 was 14.12%, down by 3.79 percentage points year-on-year, while the net margin was 5.34%, down by 1.82 percentage points [2]. - The company’s operating expenses ratio was 8.17%, a decrease of 0.88 percentage points year-on-year, with specific expense ratios for sales, management, R&D, and finance showing slight reductions [2]. Business Segments - Revenue from the electric vehicle (EV) segment was 3.813 billion yuan, up 3.77% year-on-year, while the fuel vehicle segment saw a significant increase of 56.76% to 1.190 billion yuan [2]. - The energy storage business experienced remarkable growth, with revenue reaching 1.217 billion yuan, a year-on-year increase of 123.03%, and a gross margin of 16.15% [2]. - The communications business revenue declined by 33.57% to 417 million yuan, with a gross margin of 14.36% [2]. Strategic Initiatives - The company has a rich customer base and is expanding its global footprint, collaborating with major automotive manufacturers and engaging in deep partnerships in various sectors [3]. - Production facilities are established in multiple provinces in China and in Monterrey, Mexico, with plans for a new facility in Thailand to enhance local support and mitigate tariff impacts [3]. - The company is venturing into the robotics field by partnering with the Guangdong Academy of Sciences to develop humanoid robot solutions, aiming to create new growth avenues [3]. Future Outlook - Revenue projections for 2025 to 2027 are estimated at 8.386 billion, 10.235 billion, and 12.206 billion yuan, respectively, with net profits expected to reach 502 million, 619 million, and 738 million yuan [4].