Group 1: Financial Performance - The company achieved a turnaround in 2024 with a net profit of ¥7,074,173.83, benefiting from cost reduction and efficiency measures [5] - The overall gross margin increased from 17.78% in 2023 to 22.93% in 2024, a rise of 5.15% [5] - The self-owned brand business generated revenue of ¥120,504,600, accounting for 15.82% of total revenue, with a year-on-year growth of 7.70% [7] Group 2: Business Strategy and Operations - The company focuses on two main business segments: ODM/OEM services and self-owned brand operations, with no major adjustments planned for the business model [5] - Cost control is implemented through precise management in sales, administration, and R&D, leading to a continuous reduction in management expenses as a percentage of revenue [3] - The ODM/OEM business achieved a gross margin of 16.74% in 2024, an increase of 6.26% from the previous year [7] Group 3: Market Position and Industry Context - In 2024, global smartphone shipments reached 1.24 billion units, a year-on-year increase of 6.4%, driving demand for related accessory products [3] - The company is positioned as a leading manufacturer of mobile intelligent terminal protective accessories, leveraging its advantages in R&D, innovation, and brand recognition [6] - The competitive landscape in the protective accessory segment is fragmented, making direct comparisons with other companies challenging [3] Group 4: Future Outlook - The company aims to become a global leader in the smart terminal industry, focusing on revenue growth and cost efficiency as core strategies [2] - Future growth will be driven by technological cooperation and product development tailored to key clients [3] - The management is committed to enhancing core competitiveness and achieving operational goals to boost shareholder confidence [5]

Core Viewpoint - The global consumer electronics industry is emerging from a downturn, leading to a significant performance turnaround for Jiemite (300868.SZ) in 2024, with a reported revenue of 762 million yuan, a year-on-year increase of 12.59%, and a net profit of 7.07 million yuan, marking a successful return to profitability [1][2]. Financial Performance - In 2024, the consumer electronics terminal product market showed signs of recovery, with global smartphone shipments increasing by 6.4%, halting a two-year decline [2]. - Jiemite's ODM/OEM business generated revenue of 641 million yuan, up 13.56%, while its own brand business reached 121 million yuan, a 7.70% increase [2]. - The proportion of ODM/OEM revenue rose to 84.18%, solidifying its role as the main revenue driver [2]. - The company achieved a net profit of 7.07 million yuan in 2024, a turnaround from losses in 2023, with a year-on-year profit increase of over 107.72% [2]. - Gross margins improved significantly, with ODM/OEM business gross margin rising by 6.27 percentage points and own brand gross margin increasing by 1.17 percentage points [2]. Operational Improvements - Jiemite enhanced its credit management mechanisms, resulting in a reduction of credit impairment losses by over 31 million yuan compared to 2023, which supported profit recovery [3]. - The company optimized its expense structure across sales, management, and R&D, leading to a decrease in expense ratios and improved management efficiency [3]. - Sales improvements included enhanced responsiveness to major clients and reduced customer acquisition costs through innovative marketing strategies [3]. Strategic Reforms - The turnaround is attributed not only to market recovery but also to proactive management reforms and business structure optimization [4]. - Jiemite focused on a core strategy of "increasing revenue, reducing costs, and improving efficiency," building a competitive operating system around products, customers, and organization [4]. - The company improved product design capabilities and targeted the mid-to-high-end smart terminal accessory market, enhancing brand influence [4]. - Jiemite deepened partnerships with global terminal manufacturers and e-commerce platforms, reinforcing its position as a value-oriented supplier [4]. Organizational Development - The company implemented a customer strategic management (CSM) organizational change and talent development mechanism, focusing on customer value creation as a core assessment criterion [5]. - A comprehensive business data management system was established to enhance project collaboration and inter-departmental responsiveness [5]. - Future investments will focus on "technical cost reduction," "cost sandboxes," and "flexible intelligent manufacturing" to build sustainable competitive advantages [5].