EASA(SZ:300215) Mei Ri Jing Ji Xin Wen·2025-05-15 14:27Core Viewpoint - The company experienced a slight decline in revenue for 2024 but saw an increase in net profit attributable to shareholders. However, it reported a significant loss in the first quarter of 2025 due to various challenges, including reduced customer demand and intensified market competition [1][2][3]. Financial Performance - In 2024, the company achieved a revenue of 6.19 billion yuan, a year-on-year decrease of 0.27%, while the net profit attributable to shareholders was 22 million yuan, an increase of 15.17% [1]. - For the first quarter of 2025, the company reported a revenue of 1 billion yuan, a year-on-year decline of 26%, and a net loss attributable to shareholders of 19.82 million yuan, a drastic decrease of 2097% [1][3]. - The company's total assets at the end of the reporting period were 26.7 billion yuan, with net assets close to 20 billion yuan [2]. Market Dynamics - The company operates in the certification, testing, and calibration services for various electrical equipment, with a focus on high and low voltage electrical testing [2]. - The high voltage testing business generated 4.76 billion yuan in 2024, a decrease of 2.73%, while the low voltage testing business saw a growth of 10.61%, reaching 1.35 billion yuan [2]. - Revenue from the East China region grew by 6.45% to 3.94 billion yuan, while the North China region experienced a significant decline of 22.24%, with revenue of 782.5 million yuan [2]. Strategic Initiatives - The company is shifting its strategy from a passive approach of waiting for customers to come to actively seeking orders, reflecting a response to increased competition in the electrical testing market [3]. - The management is focusing on expanding into emerging testing markets and enhancing new testing capabilities while maintaining its traditional markets [1][3]. International Expansion - The company plans to establish a wholly-owned subsidiary in Canada through a new subsidiary in Beijing, with an investment of 10 million USD or equivalent in local currency [4][5]. - The establishment of the Canadian subsidiary is seen as a strategic move to expand overseas markets and enhance the company's long-term development strategy [5].