Core Insights - Ugreen Technology is a leading cross-border digital accessories company, with significant growth potential driven by NAS products and overseas expansion [1][2] - The company's overseas business has been growing rapidly, with a projected 46% increase in overseas revenue for 2024, accounting for 57% of total revenue [1][2] - Ugreen retains its own brand "Ugreen" in overseas markets, which enhances brand recognition and contributes to higher profit margins [2] Product Segmentation - Charging products are a key growth driver, with projected revenue of 2.35 billion yuan in 2024, representing a 51% year-on-year increase and accounting for 38% of total revenue [3] - Transmission, audio, storage, and mobile peripheral products are foundational, collectively contributing to 62% of revenue with growth rates between 12% and 21% [3] Market Opportunities - The NAS market is expected to see significant demand, with a projected global market size of $6.1 billion in 2024 and an annual growth rate of 12.1% from 2025 to 2030 [2] - Ugreen aims to capture market share in the NAS segment by offering cost-effective and user-friendly products, expanding into overseas markets for higher profit margins [2] Financial Projections - Ugreen's net profit is expected to grow to 640 million yuan, 840 million yuan, and 1.04 billion yuan from 2025 to 2027, reflecting year-on-year growth rates of 38%, 31%, and 24% respectively [3]
绿联科技(301606)：品牌出海强势推进 NAS新品打开成长空间