Core Viewpoint - The company has demonstrated strong growth in revenue and profit, with a focus on expanding its product offerings in the smart transportation and IoT sectors, while also addressing challenges in profitability and market competition [2][5][9]. Financial Performance - In 2024, the company achieved operating revenue of 1.402 billion yuan, an increase of 24.85% year-on-year, and a net profit attributable to shareholders of 176 million yuan, up 0.81% from the previous year [2]. - In Q1 2025, the company reported operating revenue of 348 million yuan, a 40.28% increase year-on-year, with a net profit of 40 million yuan, reflecting a 14.42% increase [2]. Product Development and Market Expansion - The company is actively developing products in the smart connected vehicle sector, leveraging its expertise in communication, positioning, storage, and AI algorithms to create advanced vehicle-mounted video recorders with features like ADAS and DSM [1]. - The company is focusing on the commercial vehicle monitoring market, where it anticipates a shift from traditional to smart video recording devices, and is expanding its presence in overseas markets such as the EU and the Americas [2][5]. - In the smart mobility sector, the company aims to capitalize on the growing demand for electric bicycles and enhance its product offerings in smart sleep technology to drive revenue growth [2]. Competitive Landscape - The company faces challenges in maintaining profitability in its smart mobility products, with a reported gross margin of 8.52% in 2024, down from 16.78% in 2023, attributed to increased competition and pricing pressures [5]. - The company is committed to optimizing its product structure and improving operational efficiency to enhance profitability in the face of market competition [5]. Technological Integration - The company is integrating AI technologies, such as DeepSeek, into its product offerings to enhance functionality and user experience, although these efforts are still in the prototype development stage [7]. - The company positions itself as a provider of comprehensive IoT solutions, covering everything from core technology to end-user applications, thereby differentiating itself from competitors [8]. International Market Strategy - The company has seen an increase in export revenue, reaching 327 million yuan in 2024, accounting for 23.35% of total revenue, with a focus on markets in Africa and Southeast Asia [9]. - The company has implemented measures to mitigate the impact of currency fluctuations on its performance, benefiting from positive exchange rate movements in 2024 [10].
博实结2024年年度网上业绩说明会问答实录