Group 1: Company Performance Overview - In 2024, the company achieved a total revenue of ¥16,758,313,911.83, representing a year-on-year growth of 5.35% [2] - Operating profit reached ¥550,614,854.80, an increase of 22.53% compared to the previous year [2] - Total profit amounted to ¥569,171,945.32, marking a growth of 23.96% year-on-year [2] - Net profit attributable to shareholders was ¥404,620,959.25, a decrease of 4.76% from the previous year [2] Group 2: Market Position and Product Segmentation - The company's network equipment revenue accounts for over 50% of total revenue, primarily driven by switch products [2] - The company holds a significant market share in the Chinese Ethernet switch market, with a ranking of 3rd [3] - In the data center switch market, the company also ranks 3rd, indicating strong competitive positioning [3] Group 3: Future Market Trends and Strategic Focus - The company anticipates a transformative period in the communication industry driven by AI, which will necessitate upgrades in communication infrastructure [3] - By 2025, the company plans to focus on ICT infrastructure and AI application solutions, including areas like the metaverse and smart manufacturing [4] - The company aims to enhance its overseas market presence, with international revenue projected to reach nearly ¥3.4 billion, accounting for 20% of total revenue in 2024 [4] Group 4: Challenges and Growth Factors - The company has experienced slower growth in recent years due to a combination of factors, including seasonal revenue fluctuations and project delivery timelines [3] - Increased demand from internet enterprises and growth in overseas business contributed to the 5.35% revenue increase in 2024 [3] - The company is focusing on customized solutions and addressing client needs in various sectors, including government, finance, and education [2]