Core Viewpoint - The global kitchen appliance industry is transitioning from "incremental popularization" to "stock renewal," with Vatti Holdings maintaining a strong position in the market through a focus on product and user-centric strategies [1][3]. Group 1: Company Performance - Vatti Holdings reported a revenue of approximately 6.372 billion yuan in 2024, representing a year-on-year growth of 2.23%, while the net profit attributable to shareholders was 485 million yuan, up 8.39% year-on-year [1]. - The company's R&D expenditure for 2024 was about 263 million yuan, with a total of 4,416 national-level patents, including 885 new patents, positioning it among the industry leaders [2]. Group 2: Product Innovation - Vatti's new generation of energy-efficient cooking technology has achieved a thermal efficiency of 84%, significantly exceeding industry standards, with emissions of carbon monoxide and nitrogen oxides well below national standards [1]. - The company has launched the "Net White Series" products, which combine aesthetic design with innovative cleaning technology, reflecting a vision for kitchen appliances that go beyond functional value to include emotional value [4]. Group 3: Market Strategy - In 2024, Vatti's online sales channel generated 2.059 billion yuan, accounting for 32.32% of total revenue, driven by efforts in e-commerce platforms and new consumption methods like live streaming [5]. - The company has positioned itself as a leader in the high-end kitchen appliance market, focusing on user needs and technological innovation to drive product upgrades and brand evolution [3].