SLIE(SZ:300543) Xi Niu Cai Jing·2025-05-14 11:42Core Viewpoint - Langke Intelligent has demonstrated robust performance growth in the smart controller and new energy sectors, with both revenue and net profit showing double-digit increases in recent financial reports [2] Financial Performance - In 2024, Langke Intelligent reported total revenue of 1.623 billion yuan, a year-on-year increase of 21.67%, and a net profit attributable to shareholders of 51.7064 million yuan, reflecting a growth rate of 29.2% [2] - For the first quarter of 2025, the company continued this trend with revenue of 393 million yuan, up 12.21% year-on-year, and a net profit of 9.9796 million yuan, which is a 14.22% increase [2] Business Segments - The main business areas of Langke Intelligent include smart controllers, new energy solutions, and smart terminal products, with smart controllers accounting for 58.55% of revenue and new energy business contributing 34.43% [2] Shareholder Activity - Several shareholders, including the actual controllers, have been reducing their stakes, with a total planned reduction of up to 7.937 million shares, representing 2.59% of the total share capital [3] - The reasons for the reductions are uniformly stated as "personal funding needs," and the shares being sold primarily originate from the original shares prior to the IPO in 2016 [3] Market Reaction - Following the announcement of the share reduction, Langke Intelligent's stock price experienced volatility, closing at 10.70 yuan per share on May 9, 2025, down 1.47% from the previous day [4] Research and Development - Langke Intelligent has increased its R&D investment, with 2024 R&D expenses amounting to 92.2146 million yuan, which is 5.68% of its revenue, focusing on upgrading smart controller technology and expanding new energy product lines [4] International Business - The company has a significant international presence, with foreign business accounting for 53.60% of its revenue in 2024, utilizing overseas capacity transfer to mitigate international trade risks [4] Industry Context - The company faces challenges such as macroeconomic fluctuations, intensified market competition, and exchange rate changes, while its technical accumulation and customer resources support its performance growth [5] - The low industry concentration and increasing homogenization of competition present ongoing innovation pressures for the company [5]