Easttop(SZ:002889) Sou Hu Cai Jing·2025-04-30 00:16Core Insights - The company achieved a total revenue of 3.558 billion yuan in 2024, representing a year-on-year growth of 31.79%, with a net profit of 192 million yuan, up 20.50% [1] - Despite a modest increase of 2.01% in non-recurring net profit, significant advancements in cross-border e-commerce, international logistics, and healthcare sectors provided strong support for overall performance [1] Cross-Border E-Commerce Growth - The cross-border e-commerce logistics sector saw explosive growth, generating revenue of 1.698 billion yuan, a staggering increase of 1922.83% [4] - This remarkable growth was driven by the company's strategic expansion into international freight routes to Europe, the UK, and the US, as well as establishing high-standard warehousing facilities along the Belt and Road Initiative [4] - However, the profitability in this sector remains a concern, as the non-recurring net profit only grew by 2.01%, indicating a need for improved cost control and operational efficiency [4] Healthcare and Consumer Food Segments - In the healthcare sector, the company expanded its medical global center warehouse business, achieving revenue of 162 million yuan, a growth of 16.34% [5] - The growth in healthcare is steady but slower, suggesting further market expansion is necessary [5] - The consumer food segment performed strongly, with revenue reaching 370 million yuan, up 59.23%, as the company successfully developed local product export projects and built a national center warehouse for high-end imported wine [6] Digitalization and Globalization Strategy - The company made significant strides in digitalization and globalization, being one of the first AEO-certified enterprises, and implementing an AI-driven digital customs service platform [7] - The total operational warehouse area has exceeded 250,000 square meters, which is expected to reduce external leasing costs and improve operational quality [7] - The company is also focusing on building a cross-border multimodal transport product to enhance transportation efficiency and optimize costs, aiming to create a rapid freight logistics network covering Europe, North America, and Southeast Asia [7] Future Challenges - Despite the impressive achievements in 2024, the company faces challenges in balancing high investments in cross-border e-commerce with low profitability, as well as the slower growth in the healthcare sector [8] - Maintaining profitability while pursuing rapid expansion will be a key challenge for the company's future development [8]