绿联科技2025年净利润预增超41%，多维度发展要素协同发力

Core Viewpoint - Ugreen Technology (301606) forecasts a net profit attributable to shareholders for 2025 in the range of 653 million to 733 million yuan, representing a year-on-year growth of 41.26% to 58.56% compared to 462 million yuan in the previous year [1][2]. Financial Performance - The net profit attributable to shareholders is projected to be between 653 million and 733 million yuan, with a growth rate of 41.26% to 58.56% compared to the previous year's 462 million yuan [2]. - The net profit after deducting non-recurring gains and losses is expected to be between 623 million and 705 million yuan, reflecting a year-on-year increase of 41.08% to 59.65% from 441.58 million yuan [2]. Business Growth Drivers - The company's performance growth is attributed to a multi-dimensional development strategy, a clear brand strategy, and a robust operational philosophy, which includes capturing market demand, strengthening core competitiveness, and expanding market presence [2][3]. - Significant breakthroughs in product lines, particularly in NAS products, have contributed to revenue growth, with storage products generating 415 million yuan in the first half of 2025, a substantial increase of 125% year-on-year [3]. - The charging product segment also showed strong performance, with a 44% year-on-year revenue increase in the first half of 2025, supported by continuous product upgrades and favorable domestic policies [3]. Market Expansion - Ugreen has achieved rapid growth in both domestic and overseas channels, with notable success in overseas markets, including entry into major cross-border e-commerce platforms and independent sites in developed countries [4]. - The company’s overseas revenue is projected to grow by 46% in 2024, accounting for 57% of total revenue, with a gross margin of 44% in overseas markets, higher than the 28% in domestic markets [4]. - Ugreen did not participate in a large-scale recall of charging products due to safety concerns, which involved other brands, and instead launched a "trade-in" program for old charging products that comply with current safety standards [4].