Wayzim(SH:688211) Zheng Quan Zhi Xing·2025-07-11 10:11Core Viewpoint - Zhongke Weizhi Technology Co., Ltd. reported a significant increase in revenue for 2024, achieving 2.474 billion yuan, a growth of 26.42% year-on-year, but faced a net loss of 85 million yuan, marking a shift from profit to loss compared to the previous year [1][9]. Financial Performance - The company recorded a revenue of 2.474 billion yuan in 2024, up 26.42% from the previous year [1]. - The net profit attributable to shareholders was -85 million yuan, indicating a loss compared to the previous year's profit [1]. - The company has reported negative net profit for three consecutive years from 2022 to 2024 [1]. Revenue Breakdown - Revenue from the total integrated system reached 1.48 billion yuan, while the narrowband machine system generated 329 million yuan, accounting for 13.28% of total revenue, with a year-on-year growth of 121% [1][9]. - The company’s overseas revenue was 329 million yuan, reflecting a significant increase compared to domestic performance [1]. Market and Competitive Landscape - The smart logistics equipment industry in China has seen rapid growth, with market size increasing from 78.896 billion yuan in 2018 to 152.513 billion yuan in 2023, representing a compound annual growth rate of 14.09% [9]. - Major competitors in the market include international firms such as Dematic, Daifuku, and Seiko, which have established advantages in brand recognition and technology [8][9]. Product Development and Innovation - The company has maintained a high level of R&D investment, averaging 7.74% of revenue from 2022 to 2024, which has supported continuous product iteration and technological upgrades [10][11]. - The total integrated system has become the company's main product, with revenue share increasing from 0.76% in 2020 to 59.80% in 2024 [10][11]. Customer Relationships and Orders - The company has established strong partnerships with leading e-commerce firms such as Zhongtong, Shunfeng, and JD.com, which have contributed to its revenue growth [9][11]. - The order backlog for the narrowband machine system increased significantly, with amounts of 39.1669 million yuan and 91.6419 million yuan at the end of 2022 and 2023, respectively, indicating a growth of 133.98% [10][11].