Group 1 - The core profit source of Huaron Co., Ltd. is the explosion-proof sector, with a focus on becoming a leading enterprise in the global explosion-proof field [1] - The company is expected to enhance its market share due to its comprehensive competitive advantages amid increasing domestic competition in the explosion-proof industry [1] - The foreign trade business is projected to continue its positive trend, while the domestic trade business is anticipated to recover in the first half of 2025, with revenue gradually confirmed in the second half [1] Group 2 - The company is strategically adjusting its intelligent safety business, optimizing its business structure, which is expected to improve profit margins despite a slowdown in revenue growth [1] - Huaron Co., Ltd. possesses technological advantages in the explosion-proof robot business, having successfully integrated explosion-proof technology with robotic systems [1] - The foreign trade segment is becoming a significant growth engine, with foreign trade revenue expected to increase by 35% and 85% year-on-year in 2024 and the first quarter of 2025, respectively [1] Group 3 - The company is waiting for the provincial regulations to be released to reassess the cost-effectiveness of its new energy EPC business, focusing on expanding into new business areas [1] - The professional lighting business is actively expanding and is currently in a platform development phase, gradually entering overseas markets [1]

Core Viewpoint - The company reported a revenue increase of 24.01% year-on-year for 2024, reaching 3.964 billion yuan, while net profit saw a slight increase of 0.26% to 462 million yuan, indicating stable financial performance despite challenges in traditional markets [2]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 3.964 billion yuan, a year-on-year increase of 24.01% [2]. - The net profit attributable to shareholders was 462 million yuan, reflecting a year-on-year growth of 0.26% [2]. - The non-recurring net profit was 448 million yuan, showing a decline of 0.98% year-on-year [2]. - The company proposed a cash dividend of 10 yuan per 10 shares (including tax) [2]. Group 2: Business Segment Performance - The core business segment of explosion-proof electrical appliances generated revenue of 2.506 billion yuan, a decrease of 3.5% year-on-year, primarily due to reduced capital expenditure in the domestic traditional oil and gas sector [3]. - The safety intelligent system within the explosion-proof electrical segment achieved revenue of 362 million yuan, growing over 72% year-on-year, with significant demand in hazardous chemical parks [3]. - The military and nuclear power sectors generated revenue of 135 million yuan, up over 21% year-on-year [3]. - The marine engineering segment reported revenue of 168 million yuan, an increase of 19% year-on-year [3]. - The foreign trade segment of explosion-proof electrical appliances reached a record high of 944 million yuan, growing 35% year-on-year, benefiting from proactive overseas operations [3]. - The professional lighting segment achieved revenue of 279 million yuan, a growth of 3.6% year-on-year, facing pressures from shrinking downstream demand and intensified competition [3]. - The new energy segment saw a remarkable revenue increase of 314.7%, contributing significantly to overall revenue growth [3]. Group 3: Market Expansion Strategies - The company is actively expanding its overseas market presence, with strong demand in international markets, particularly outside North America [4]. - A subsidiary in Saudi Arabia commenced operations in September 2024, focusing on local service provision for major clients like Saudi Aramco [4]. - The company is progressing in Europe, Southeast Asia, and Central Asia, while also planning to establish international operations in Africa and South America [4]. - Domestically, the company is focusing on the Xinjiang coal chemical sector, with significant investment planned from 2025 to 2028, which is expected to drive demand for explosion-proof equipment [4].