Core Viewpoint - The company, Huabao New Energy, has reported significant growth in revenue and profit for the first quarter of 2025, driven by its global M2C direct sales strategy and cost control measures [21][22]. Company Overview - Huabao New Energy focuses on the research, production, branding, sales, and service of lithium battery storage and photovoltaic products, aiming to become a trusted global green energy brand [5][6]. - The company's core products include portable storage, home storage, and photovoltaic products, which are widely recognized by users [5][6]. Business Model - The company employs a M2C (Manufacturer to Consumer) business model, integrating research and development, production, branding, sales, and service to enhance market responsiveness and reduce costs [11]. - The company has established a comprehensive sales channel that includes independent websites, third-party e-commerce platforms, and offline retail partnerships with major retailers [15][21]. Financial Performance - In Q1 2025, the company achieved a revenue of 714 million yuan, representing a year-on-year increase of 22.60%, and a net profit of 85.07 million yuan, up 193.36% year-on-year [21]. - The company has implemented cost control strategies, resulting in a decrease in sales and management expense ratios by 2.86 and 0.80 percentage points, respectively [22]. Innovation and R&D - The company has invested heavily in R&D, holding a total of 1,720 patents, including 928 domestic and international patents [22]. - The launch of the new generation of outdoor power supply, the 3000Pro2 flagship series, showcases the company's commitment to innovation and setting industry standards [22]. Market Expansion - The company has established 23 independent websites and expanded its business to over 50 countries, with a 42.10% year-on-year increase in revenue from its brand website [21]. - The offline retail channel has seen a 30.49% year-on-year revenue growth, with products available in over 10,000 retail locations [21].