Core Viewpoint - The company held its 2024 annual performance briefing, highlighting strong growth in revenue and net profit, alongside strategic developments in various business sectors, including AI, cloud services, and smart IoT devices [1][11][14]. Group 1: Financial Performance - In 2024, the company achieved a revenue of 74.10 billion yuan, representing a year-on-year increase of 59.08% [11][14]. - The net profit attributable to shareholders was 6.92 billion yuan, up 140.80% from the previous year [11][14]. - The net profit after deducting non-recurring gains and losses was 6.71 billion yuan, reflecting a growth of 144.33% year-on-year [11][14]. Group 2: Business Strategy and Development - The company is focusing on developing new capabilities in computing power and embodied intelligence, while maintaining its core business in storage devices and IoT terminals [1][5]. - The strategic core is centered around an "intelligent IoT ecosystem," integrating smart terminals, computing infrastructure, and cloud services [1][19]. - The company has established a comprehensive product system in the smart IoT terminal field, covering AIoT hardware, data storage terminals, edge computing devices, and smart control terminals [1][19]. Group 3: Market and Product Insights - The company is actively expanding its server recycling business, which is primarily aimed at sales rather than self-use [4][6]. - The demand for server recycling is strong, and the company is increasing its investment to enhance competitiveness in this area [4][6]. - The company’s overseas revenue is mainly derived from sales to regions such as Hong Kong, Singapore, and India, with a low proportion of direct sales to the U.S. [15][19]. Group 4: Future Outlook - The company plans to continue expanding its computing power service sector and aims to become a leading comprehensive cloud service platform globally [5][20]. - The company is also focusing on the development of service robots, including machine dogs and humanoid robots, to enhance its advanced manufacturing capabilities [2][5]. - The company is committed to maintaining a robust talent management system to support its growth and development [4][5].

点击注册小程序 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告摘要 公司聚焦"云 - 边 - 端 " 一体的智慧存储与智能物联体系，深耕智慧存储、智能物联、云服务、算力服务 器、服务器再制造等业务条线。根据公司公告， 2024 年公司预计实现归母净利润 6.81-8.33 亿元，同比增 长 137.16%-189.86% 。 AI需求强力驱动，推动数据存储设备增长 随着ChatGPT的问世， AI应用需求迎来增长，芯片供应商也陆续推出 AI 高端芯片以满足日益提升的算力 需求。根据Trendforce预测，随着运算速度的提升，2024年存储器在各类AI终端，如智能手机、服务器、 笔记本电脑的单机平均搭载容量将均有增长，服务器领域增长幅度最高。公司在SSD产品上具备完整的产 品线，推出的企业级SSD具备高速运 ...