Core Viewpoint - The company reported a significant increase in revenue and profit for 2024, indicating a strong recovery in the storage industry and successful market expansion efforts [2][3]. Group 1: Financial Performance - In 2024, the company achieved revenue of 6.704 billion yuan, representing a year-on-year growth of 86.71% [2]. - The company recorded a net profit attributable to shareholders of 176 million yuan, marking a turnaround from losses [2]. - The net profit excluding non-recurring items was 74 million yuan, also reflecting a recovery from previous losses [2]. Group 2: Industry Recovery and Market Position - The storage industry is experiencing a recovery, with the company benefiting from its comprehensive capabilities in product planning, design, and advanced manufacturing [3]. - The company has established a strong market presence, securing global operational authorizations from major brands like HP, Acer, and Predator, and has entered the supply chains of first-tier domestic and international clients [3]. - In the mobile sector, embedded storage products have been adopted by clients such as OPPO, Transsion, and Motorola, while SSD products have gained traction with Lenovo, Acer, and HP in the PC sector [3]. Group 3: Product Development and Growth Areas - The company is focusing on AI smartphones and AIPC products, launching embedded storage products like UFS3.1 and LPDDR5/5X, and is expanding into high-capacity LPDDR offerings [4]. - In the wearable technology sector, the company’s ePOP products are gaining traction, with expected revenue of approximately 800 million yuan in 2024, showing significant year-on-year growth [4]. - Collaborations with clients such as Meta for AI glasses are anticipated to drive further business growth in the coming years [4]. Group 4: Research and Development Investment - The company is increasing its investment in R&D, focusing on chip design, storage medium characteristics, and advanced packaging technologies to enhance competitiveness [5]. - In 2024, R&D expenses reached 452 million yuan, reflecting an increase of 80.75% year-on-year [5]. - The subsidiary, Tailai Technology, has developed advanced packaging processes that support the mass production of NAND Flash, DRAM, and SiP chips [5].