Tom(SZ:300459) Zheng Quan Ri Bao Wang·2025-04-28 13:48Core Viewpoint - Tom Cat's 2024 annual report indicates a decline in main business revenue due to various factors, including the impact of new entertainment forms and a competitive market environment [1][2]. Group 1: Financial Performance - In 2024, Tom Cat achieved an operating income of 1.143 billion yuan, but reported a net loss attributable to shareholders due to asset impairment, with a net profit of approximately 78.07 million yuan after excluding impairment effects [1]. - The report highlights a year-on-year decline in key performance indicators, influenced by limited contributions from new games and AI hardware products, as well as changes in customer advertising bidding mechanisms [1]. Group 2: R&D and Product Development - To address macroeconomic and competitive challenges, Tom Cat has increased its R&D investment, with the proportion of R&D expenditure to revenue rising from 12.25% in 2021 to 23.50% in 2024 [1]. - The company is actively developing a diverse range of premium games, with upcoming products like "Jin Jie Cat Enlightenment Garden," "Tom Cat Town," and "Tom Cat Mobilization 2" expected to launch in 2025, which are anticipated to contribute to incremental performance [1]. Group 3: AI Innovation - Tom Cat is expanding its AI innovation business, launching the "Chatting Tom Cat" AI product matrix, including the first AI emotional companion robot, which was introduced in late December 2024 [2]. - The AI robot features emotional perception, multimodal interaction, and long-term memory modules, providing personalized conversations based on user preferences, and received a 97% approval rating after its launch on Douyin [2]. - The introduction of the AI emotional companion robot is expected to open new growth avenues for the company, with plans to expand its AI hardware matrix based on the product's software and hardware advantages [2].