周专题：电子价签行业空间广阔，汉朔科技居国内第一

Investment Rating - Industry rating: Recommended [5] Core Insights - The electronic price tag industry has significant growth potential, with HanShuo Technology being the leading player in China. The company has developed a comprehensive business system centered around electronic price tag systems and SaaS cloud platform services, continuously innovating its product offerings [1][9] - The penetration rate of electronic price tags is expected to continue rising, with the current global penetration at approximately 15%. In China, the penetration rate is only 15% as of 2023, but it is projected to reach 40% in the next five years. The global electronic price tag market size has grown from 2.8 billion to 16.9 billion from 2017 to 2023, with a CAGR of 34.9%, and is expected to reach 34.9 billion by 2028 [2][14][15] Summary by Sections Section 1: Electronic Price Tag Industry Overview - HanShuo Technology is the top electronic price tag manufacturer in China and ranks among the top three globally. The company has established international operations since 2014 and has formed strategic partnerships with major retailers [1][9][10] - The company reported a revenue of 4.49 billion in 2024, an increase of 18.8% year-on-year, with electronic price tag terminal revenue at 4.113 billion, up 16.9% year-on-year [10] Section 2: Market Dynamics - The electronic price tag market is characterized by a high concentration of leading service providers, with HanShuo Technology holding a 62% market share in China and a 28% share globally. The competitive landscape is expected to continue favoring top-tier service providers as retailers increasingly invest in digital solutions [2][15] Section 3: Company Performance - HanShuo Technology's revenue has grown from 1.19 billion in 2020 to 4.49 billion in 2024, with a CAGR of 39.3%. The net profit attributable to the parent company increased from 0.82 billion to 0.71 billion during the same period, with a CAGR of 71.3% [10][11]