Core Viewpoint - Jiuqi Co., Ltd. has demonstrated strong revenue and profit growth in 2024 and Q1 2025 despite global economic challenges, showcasing its operational resilience and international market expansion capabilities [1] Group 1: Financial Performance - In 2024, the company achieved revenue of 2.788 billion yuan, a year-on-year increase of 38.98%, and a net profit attributable to shareholders of 123 million yuan, up 15.31% [1] - For Q1 2025, the company continued its positive momentum with revenue of 690 million yuan, a 30.39% increase year-on-year, and a net profit of 40.84 million yuan, reflecting a significant growth of 90.01% [1] Group 2: Market Trends and Product Development - The cycling trend in China remains strong in 2024, with a shift towards high-end mountain bikes and smart electric bikes, leading to the emergence of new brands and retail models [2] - The company reported revenue of 462 million yuan from adult bicycles, a 39.17% increase, and 607 million yuan from children's bicycles, a 57.94% increase, indicating an optimized product structure and enhanced market share [2] Group 3: Technological Advancements - The company has established a global standard system for bicycle frames and components, ensuring product quality and consistency through stringent control over equipment, personnel, materials, and production environments [2] - Ongoing initiatives in smart manufacturing and industrial internet applications include the introduction of advanced equipment like welding robots and vacuum coating devices, aimed at improving automation, reducing costs, and enhancing efficiency [2] Group 4: Intellectual Property and Strategic Focus - As of the end of 2024, the company and its subsidiaries have obtained a total of 89 patents, including 12 invention patents, 42 utility model patents, and 35 design patents, reinforcing its technological barriers and innovation capabilities [3] - The company's strategy focuses on the design and development at the front end of the bicycle industry chain and sales channels at the back end, utilizing a combination of in-house production and outsourcing [3] Group 5: Future Outlook - Looking ahead, the company aims to capitalize on the global cycling consumption upgrade and green travel trends, enhancing technological innovation and product diversification to boost international brand influence [3] - Plans include further improving global supply chain collaboration and standard system construction, solidifying the "design + sales" dual-driven strategy, and promoting high-quality, sustainable growth [3]
久祺股份：2024年营收利润双增长，一季度延续良好态势