Core Viewpoint - The company, Shenzhen Ugreen Technology Co., Ltd., has engaged with 32 institutions and 89 participants during a recent investor research event, highlighting its revenue distribution and overseas expansion strategies. Group 1: Revenue Insights - In the first half of the year, Ugreen's revenue from major domestic e-commerce platforms was as follows: Tmall generated 425 million yuan, accounting for 11.01% of main business revenue; JD.com generated 513 million yuan, accounting for 13.30% of main business revenue [1]. Group 2: Overseas Expansion Strategy - Ugreen has established a presence in Hong Kong, the United States, and Germany to enhance its overseas market penetration. The company plans to recruit management and sales talents with international experience and strong marketing skills, while also optimizing its compensation management system to attract and retain top talent [2]. Group 3: Historical Development - Founded in 2012, Ugreen began its brand development by entering major domestic e-commerce platforms like Tmall and JD.com. From 2013 to 2015, the company expanded globally by joining international platforms like Amazon and building offline distribution networks. Between 2016 and 2019, it focused on product design and supply chain enhancements. From 2020 to 2023, Ugreen deepened its brand strategy and localization efforts, and since 2024, it has continued to enhance brand localization and announced a global brand ambassador [3]. Group 4: Product Offering - Ugreen's NAS products cover a full range from entry-level to mid-to-high-end, with prices starting from around 1,000 yuan to several thousand yuan. The entry-level products are cost-effective and suitable for general users, while mid-to-high-end products cater to small businesses or individuals with higher data storage needs [4]. Group 5: Production Model - Ugreen has developed a dual-driven smart supply chain system comprising "outsourced finished product procurement + self-production." The company has strengthened its self-production capabilities through its subsidiaries, with self-production accounting for over 20% and outsourced production for about 70% in recent years [5]. Group 6: Audio and Video Product Highlights - Ugreen's audio and video product line includes various types of headphones and microphones. New products include the T6s×Xiaolong Green co-branded headphones with deep noise cancellation and high-resolution sound; the HiTune T6s headphones, which received a national A-level 52dB noise reduction certification; the HiTune Max6 headphones featuring AI real-time translation; the HiTune S7 headphones designed for sports with lightweight and waterproof features; and the HiTune S8 headphones that combine active noise cancellation with AI capabilities for a comfortable and interactive experience [6].

Group 1: Financial Performance - In the first half of the year, Tmall's revenue reached 425 million CNY, accounting for 11.01% of the main business revenue [1] - JD's revenue amounted to 513 million CNY, representing 13.30% of the main business revenue [1] Group 2: International Expansion - The company has established localized service subsidiaries and offices in key markets including Hong Kong, the USA, and Germany [2] - The company aims to attract international management talents and outstanding sales personnel to support overseas business development [2] Group 3: Development History - The company was founded in 2012 and began its brand development by entering major domestic e-commerce platforms [2] - From 2013 to 2015, the company expanded globally by entering international e-commerce platforms like Amazon and AliExpress, while also building a distribution network [2] - Between 2016 and 2019, the company upgraded its R&D and design capabilities, establishing a leading supply chain system [2] - From 2020 to 2023, the company focused on brand localization and technological innovation, achieving industry leadership in products like NAS private cloud and GaN chargers [2] Group 4: Product Pricing and Production - The price range for NAS products starts from around 1,000 CNY to several thousand CNY, catering to diverse user needs [3] - The company operates a dual-driven supply chain system with approximately 20% of production being in-house and about 70% outsourced [4] Group 5: Audio-Video Product Highlights - The audio-video product line includes headphones, microphones, and various audio cables, with new headphone models launched to meet diverse user demands [4] - Notable new products include the T6s headphones with deep noise cancellation and high sound quality, and the HiTuneMax6 headphones featuring AI real-time translation capabilities [4]

Core Insights - The company reported a revenue of 3.857 billion yuan for the first half of 2025, representing a year-on-year growth of 40.6% [1] - Net profit attributable to the parent company reached 275 million yuan, an increase of 32.74% compared to the previous year [1] Product Categories - Charging products generated sales of 1.427 billion yuan, up 44.39% year-on-year, accounting for 37.01% of total revenue [1] - Transmission products achieved sales of 1.028 billion yuan, reflecting a growth of 29.00% [2] - Audio and video products recorded sales of 630 million yuan, with a year-on-year increase of 28.22% [2] - Storage products saw a significant surge in sales, reaching 415 million yuan, a 125.13% increase [2] - Mobile peripheral products generated sales of 304 million yuan, growing by 28.92% [3] Innovation and Product Development - The company launched several innovative products, including the MagFlow magnetic wireless charger and a 500W GaN desktop charger [1] - New transmission products include a hard disk expansion dock designed for Apple Mac mini and a 16-port gigabit switch [2] - The audio product line introduced AI headphones with adaptive noise cancellation and AI voice assistant features [2] - The storage product line includes a new NAS private cloud model with advanced AI functionalities [2] Sales Channels and Market Strategy - The company employs an "online + offline" integration model, achieving balanced revenue growth across domestic and international markets [3] - Online sales reached 2.847 billion yuan, up 36.79%, while offline sales were 1.008 billion yuan, growing by 52.90% [3] Research and Development - R&D investment for the first half of the year was 174 million yuan, a 24.99% increase [3] - The company received 10 Red Dot Design Awards and 6 iF Design Awards in 2025, with over 70 design awards accumulated [3] - A total of 298 new core technology patents were granted, focusing on smart charging and data processing [3] Product Quality Assurance - The company confirmed that all mobile power supplies and chargers on sale have obtained CCC certification, ensuring product quality and safety [4]