Core Viewpoint - Junhe Co., Ltd. reported significant growth in 2024, with revenue reaching 1.111 billion yuan and net profit at 79.4481 million yuan, representing year-on-year increases of 54.62% and 116.96% respectively, with a remarkable 726% increase in non-recurring net profit [1] Group 1: Financial Performance - The company achieved a revenue increase of approximately 88% from its online brand development on platforms like Amazon [1] - The revenue from domestic sales and online sales reached 58.41 million yuan and 38.02 million yuan, showing year-on-year growth of 62% and 87% respectively [1] - Direct and indirect export revenues were 678 million yuan and 307 million yuan, with year-on-year increases of 52% and 58% respectively [1] Group 2: Market Expansion and Strategy - In 2024, Junhe Co., Ltd. opened its first offline store in January, and by September, it had established a total of 7 stores, marking the formation of a complete sales ecosystem [2] - The company intensified customer engagement in North America and Europe, participated in international exhibitions, and established subsidiaries in countries like Thailand, Indonesia, and Russia [2] - A planned investment of 200 million yuan for a factory in Thailand aims to enhance the global supply chain, with production expected to commence by late 2025 [2] Group 3: Industry Trends - The household water pump market is characterized by stable demand, primarily concentrated in developed regions such as Europe, America, and Oceania [3] - The global pump industry is highly concentrated, with major players located in the Americas and Europe, which dominate both supply and demand for high-end pump products [3] - Junhe Co., Ltd. aims to stand out in the global market through a comprehensive product line, market insight, and innovative strategies, establishing itself as a leader in the industry [3] Group 4: Product Development - The company has developed several new products, including the WQD sewage pump, which is lighter and more efficient, and the QDX6-15-0.55PH265 high-lift clean water pump, known for its compact size and low noise [4] - Junhe Co., Ltd. is committed to becoming a globally influential smart manufacturing brand, focusing on technological advancement and sustainable development in the water pump industry [4]