湍流中的裁员，关税影响和中国市场

Core Viewpoint - Bosch Group achieved a challenging performance in the 2024 fiscal year, with a sales revenue of €90.3 billion, a year-on-year decrease of 1.4%, and an EBIT margin dropping from 5.3% to 3.5% [4][6]. Group 1: Financial Performance - The automotive sector remains Bosch's largest segment, generating sales of €55.8 billion, maintaining the previous year's level [4]. - The home appliance business grew by 1.6% to €20.3 billion, while energy and building technology fell by 2.7% to €7.5 billion, and machinery and manufacturing saw the largest decline of 13% to €6.4 billion [4]. - In China, Bosch's sales reached ¥142.7 billion, a year-on-year increase of 2.7%, contributing 20% to the overall sales [6]. Group 2: Strategic Focus and Market Position - Bosch's Chairman emphasized the importance of the Chinese market, stating that without entering China, it is difficult to establish a foothold in the automotive supply industry [6]. - The company plans to invest approximately ¥6 billion in China in 2024, with cumulative investments exceeding ¥60 billion over the past decade [6]. - Bosch aims to become one of the top three suppliers in core markets within the next five years [8]. Group 3: Future Outlook and Challenges - Bosch anticipates a 1%-3% natural growth in sales for the 2025 fiscal year, with a significant improvement in EBIT margin expected by 2026 [12]. - The company is implementing structural and personnel adjustments to enhance competitiveness, with a projected reduction in global employee numbers [13]. - Bosch views electric mobility, hydrogen energy, and software-defined vehicles as key growth drivers in the smart mobility sector [15]. Group 4: Technological Development and Innovation - Bosch has supplied over 17 million powertrain components for electric and hybrid vehicles, including 5.5 million electric motors [18]. - The company is focusing on hydrogen internal combustion engines as a significant future technology, despite current market demand challenges [19]. - Bosch is actively developing advanced driver assistance systems (ADAS) and aims to capture a significant share in urban driving assistance [21][24]. Group 5: Impact of Geopolitical Factors - The impact of the U.S.-China trade war on Bosch's operations in China is relatively minor, as most products are locally sourced and produced [26]. - Bosch is increasing R&D investments in China to support local product development and procurement [26]. - The company has established a commercial vehicle group in China, focusing on traditional and emerging technologies [27].