Core Viewpoint - XINWANGDA has demonstrated strong financial performance in Q1 2025 and throughout 2024, showcasing resilience and growth in the face of industry challenges, driven by a dual strategy of "consumer electronics + smart energy" [1][2][4] Financial Performance - In Q1 2025, XINWANGDA achieved revenue of 12.289 billion yuan, a year-on-year increase of 11.97%, and a net profit of 386 million yuan, up 21.23% [1] - For the full year 2024, the company reported revenue of 56.021 billion yuan, a 17.05% increase, and a net profit of 1.468 billion yuan, growing 36.43% [1] Consumer Battery Segment - The consumer battery segment generated revenue of 30.405 billion yuan in 2024, reflecting a 6.52% growth and maintaining a 54.27% revenue share with a gross margin of 17.65% [2] - Global smartphone shipments reached 1.24 billion units in 2024, marking six consecutive quarters of growth, while the PC market saw shipments of approximately 253 million units, also growing for five consecutive quarters [2] Global Expansion - XINWANGDA is expanding its global footprint with the construction of a manufacturing base in Vietnam, aiming to create a "China R&D + global manufacturing" collaborative network [3] Strategic Emerging Segments - The strategic emerging segment, particularly the power battery sector, saw revenue of 15.139 billion yuan in 2024, a 40.24% increase, with a shipment volume of 25.29 GWh, up 116.89% [4] - The energy storage segment became a highlight with revenue of 1.889 billion yuan, a 70.19% increase, and installed capacity doubling to 8.88 GWh [4] Technological Advancements - XINWANGDA is advancing its technology portfolio, launching its first aviation power battery and making significant progress in solid-state battery development, with the first generation achieving over 300 Wh/kg energy density [5][6] - The company is transitioning from a battery supplier to an energy ecosystem builder, leveraging synergies between consumer electronics and new energy sectors [6]

Core Viewpoint - The company reported strong financial performance in 2024, with significant growth in revenue and net profit, driven by the expansion of its consumer battery and energy storage businesses [1][4]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 56.021 billion yuan, a year-on-year increase of 17.05%, and a net profit attributable to shareholders of 1.468 billion yuan, up 36.43% year-on-year [1]. - The fourth quarter of 2024 saw operating revenue of 17.742 billion yuan, a 31.00% increase year-on-year, but a net profit decrease of 6.06% to 256 million yuan [1]. - The company's gross profit margin improved to 15.18% in 2024, up 0.58 percentage points year-on-year, while the net profit margin was 2.62%, an increase of 0.37 percentage points [4]. Group 2: Business Segments - The consumer battery business generated revenue of 30.405 billion yuan in 2024, a 6.52% increase year-on-year, with a gross margin of 17.65%, up 2.74 percentage points [2]. - The company’s power battery shipments reached 25.29 GWh in 2024, a remarkable increase of 116.89% year-on-year, resulting in revenue of 15.139 billion yuan, up 40.24% [3]. - The energy storage system installed capacity reached 8.88 GWh, a 107% increase year-on-year, with revenue of 1.889 billion yuan, up 70.19% [3]. Group 3: Future Outlook - The company is expected to continue its growth trajectory, with projected revenues of 67.068 billion yuan, 78.268 billion yuan, and 88.942 billion yuan for 2025-2027, representing year-on-year growth rates of 20%, 17%, and 14% respectively [4]. - Net profit forecasts for the same period are 2.301 billion yuan, 2.755 billion yuan, and 3.162 billion yuan, with year-on-year growth rates of 57%, 20%, and 15% respectively [4]. - The company is enhancing its self-supply rate for consumer battery cells and expanding its global footprint, including projects in Vietnam, Hungary, and Thailand [2][3].