Core Viewpoint - Yirui Technology's 2024 annual report shows a slight decline in revenue and profit, but the company continues to focus on technological innovation, global expansion, and new business development to lay a solid foundation for future growth [2][3][5]. Financial Performance - In 2024, Yirui Technology achieved revenue of 1.831 billion yuan, a year-on-year decrease of 1.74% - The net profit attributable to shareholders was 465 million yuan, down 23.43% year-on-year [2][3]. Performance Review - The company faced short-term pressure due to weak global economic recovery, increased trade barriers, and sluggish downstream demand, leading to a slight decline in revenue and profit - Despite this, Yirui Technology demonstrated strong resilience by increasing R&D investment, optimizing the supply chain, and expanding into overseas markets - R&D investment reached 310 million yuan, accounting for 16.94% of revenue, with 115 new intellectual property rights added, including 30 invention patents [5]. Technological Innovation - Yirui Technology emphasizes technology as its core, achieving significant results in new product development and core technology breakthroughs in 2024 - In the medical field, the company launched high-resolution detectors and advanced products such as the 64-slice medical CT detector module - In the industrial sector, new products include flexible detectors and security CT detector modules, catering to diverse detection needs - The successful development of UEG series rare earth garnet scintillation ceramics fills a material gap in high-energy industrial CT imaging [6][7][8]. Global Expansion - To address domestic market pressures, Yirui Technology accelerated its global expansion - The company established sales or customer service platforms in various countries, including the USA, Germany, South Korea, and India, and participated in major global industry exhibitions to enhance brand influence - The production bases in Haining and Taicang (Phase II) have been put into operation, and the Cleveland factory in the USA is now operational, increasing the global factory layout to six locations, forming an international supply chain network [10][11]. Development Strategy - Yirui Technology has outlined six strategic directions, focusing on: - Technological self-control: Accelerating the localization of core components and promoting import substitution across the X-ray industry chain - Product high-end positioning: Focusing on cutting-edge technologies such as photon counting detectors and optimizing product structure - Global competition: Strengthening overseas R&D and sales networks to become the preferred brand for global customers - Cultivating new productive forces: Expanding into new businesses such as life science instruments to create a second growth curve [12][13][14][15]. Future Outlook - In 2025, Yirui Technology plans to continue increasing R&D investment, improving global layout, and enhancing operational efficiency through intelligent production and supply chain optimization - The company emphasizes a "big customer strategy" to deepen customer cooperation with differentiated products and services, further solidifying its global competitiveness in the X-ray core component field [16]. Conclusion - Despite short-term performance pressures in 2024, Yirui Technology showcases strong long-term growth potential through technological innovation and global strategies, steadily progressing towards its goal of becoming a leading global supplier of X-ray products and solutions [17].