Elegant(SH:603221) Sou Hu Cai Jing·2025-05-01 18:34Core Insights - The company reported a total revenue of 1.309 billion yuan for 2024, representing a year-on-year growth of 11.30%, and a net profit of 138 million yuan, which is a significant increase of 77.09% [1] - The company focuses on the research, production, and sales of PVC elastic flooring, achieving steady growth through digital deployment, global capacity expansion, and innovation [1] Digital Deployment - In 2024, the company made significant progress in digital deployment by completing the global SAP system implementation, which transformed organizational management and business processes [4] - The introduction of AI technologies, including Seata and Sentinel, enhanced automation and operational efficiency, reducing management costs and improving production efficiency [4] - The company strengthened data security management by implementing a unified management system for global network nodes and data operations, laying a solid foundation for high-quality future development [4] Global Capacity Expansion - The company accelerated its global capacity expansion strategy in response to ongoing pressures in the global supply chain, with a U.S. subsidiary entering the capacity ramp-up phase and a Mexican factory set to begin production [5] - This expansion enhances the company's ability to provide localized supply and services in the North American market, addressing customer concerns about supply chain security [5] - The successful establishment of the North American production base improves supply chain efficiency and resilience, supporting the company's long-term commitment to its core business [5][6] Research and Innovation - The company continued to deepen research and innovation in 2024, focusing on optimizing product structure and adapting to global markets [7] - It developed new bio-based materials and improved production processes for PET elastic flooring, enhancing product performance beyond existing standards [7] - The company also introduced energy-saving flooring and expanded its product range to include wet area flooring, while deploying digital intelligent production lines in its U.S. and Mexican factories to improve product stability and reduce costs [7] - Future efforts will focus on bio-based materials and circular economy models, aiming to build global technological barriers and provide diverse and differentiated choices for consumers [7]