Core Viewpoint - The company, Haoyang Electronics, reported a decline in revenue and net profit for 2024 and Q1 2025, while outlining strategies to address market challenges and drive future growth [1][2]. Group 1: Financial Performance - In 2024, the company achieved revenue of approximately 1.212 billion yuan, a year-on-year decrease of about 7.12% [1] - The net profit attributable to the parent company was approximately 302 million yuan, down about 17.61% year-on-year [1] - For Q1 2025, total revenue was 300 million yuan, reflecting a year-on-year decline of approximately 8.04% [1] - The net profit attributable to the parent company for Q1 2025 was around 53 million yuan, a significant drop of about 47.04% year-on-year [1] Group 2: Market Outlook and Strategies - The company is optimistic about the U.S. market, believing that if tariffs return to reasonable levels, they can mitigate tariff impacts through price adjustments [2] - In 2024, the company plans to acquire assets from Denmark's SGM and establish subsidiaries in Denmark and the U.S. to support market needs [2] - Future growth drivers include enhancing core technology R&D, optimizing production efficiency, and expanding enterprise customer resources [2] - Demand outlook indicates positive trends in Europe, steady growth in Asia due to performing arts activities, and a recovery in the Middle East, while the U.S. remains affected by tariffs [2] Group 3: R&D and Product Development - The company has multiple innovative product projects under development, with updates to be disclosed in regular reports [2] - There is a commitment to increasing R&D investment in the coming years, although the growth rate of R&D expenses is expected to slow compared to 2024 [2] - The aim is to maintain or improve gross margins and operational quality through the introduction of new products [2]

Financial Performance - In 2024, the company achieved a revenue of approximately RMB 1.212 billion, a year-on-year decrease of about 7.12% [2] - The net profit attributable to the parent company was approximately RMB 302 million, down about 17.61% year-on-year [2] - In Q1 2025, total revenue was RMB 300 million, reflecting a year-on-year decline of approximately 8.04% [2] - The net profit attributable to the parent company for Q1 2025 was approximately RMB 53 million, a significant decrease of about 47.04% year-on-year [2] Market Outlook - The overseas performance of the entertainment industry is expected to maintain steady growth over the next two years, despite uncertainties in U.S. tariff policies [3] - The company believes that if tariffs can be adjusted to a more reasonable level, it can mitigate the impact through price adjustments [3] - Demand in Europe remains positive, while Asia continues to see steady growth in entertainment activities, contributing to increased demand for performance equipment [6] Strategic Initiatives - In 2024, the company acquired assets from Denmark's SGM and established subsidiaries in Denmark and the U.S. to leverage their technology and capacity for the U.S. market [4] - The company plans to enhance its core technology research and development, optimize production efficiency, and expand its customer base to drive future profit growth [5] - Ongoing investment in R&D is expected to continue, with a projected overall increase in R&D expenses, although the growth rate may slow compared to 2024 [8] Product Development - The company has multiple innovative product projects under development, with updates to be disclosed in regular reports [7] - New product development may face uncertainties, and investors are advised to be aware of associated risks [7] Investment Strategy - Recent external investments aim to enrich and enhance the company's position in the performance equipment industry, improving market competitiveness and customer service capabilities [9]