智能手环可能真的要在国内市场"失宠"了。根据洛图科技（RUNTO）公布的线上监测数据显示，2024 年智能手环TOP5品牌中只有小米实现了增长，就连排名第二的华为销量也同比下滑9.7%、排名第三的 荣耀则同比下滑了10.3%。 | 品牌 | 市场份额 | 销量同比 | | --- | --- | --- | | 小米 | 50. 9% | 32. 2% | | 华为 | 33. 8% | -9. 7% | | 荣耀 | 3. 4% | -10. 3% | | KEEP | 2.7% | -8. 6% | | DiDo | 1.4% | -35. 2% | 除了独占鳌头的厂商之外，其他友商都在衰退，这即使是放在马太效应更强的互联网行业都不太正常， 更何况作为消费电子行业一员的智能手环赛道。这个现象也就意味着整个智能手环市场已经进入了衰退 期，小米也仅仅只是"吃下"了一部分华为、荣耀、KEEP丢掉的份额。 随着消费者开始关注健康监测、运动追踪等更复杂的功能，智能手环的体积和成本问题就开始陆续暴 露。受限于使用体验和成本，智能手表能内置的传感器类型有限，比如心率监测、血氧检测，以及血压 检测依赖的PPG和ECG传感 ...

Core Viewpoint - Crown City Watch and Jewelry Group Limited reported a significant decline in revenue and a substantial net loss for the fiscal year 2024, indicating severe challenges across its business segments [2][4]. Financial Performance - Total revenue for 2024 was HKD 1.336 billion, a decrease of 18% year-on-year [2]. - The company experienced a net loss of HKD 282 million, an increase of 545.8% compared to the previous year [4]. - The gross profit from non-banking operations plummeted by 50.4% to HKD 309 million [2]. Business Segment Analysis - The watch business saw a revenue decline of 26.9%, with local brand revenues halved and Rosini's revenue down by 21.3% [2][4]. - The property business revenue decreased by 6%, while the banking business had the smallest decline at 0.3% [2]. - The contribution from joint ventures shrank by 76% [4]. Financial Health - The asset-liability ratio reached 78.8%, an increase of 6.1 percentage points year-on-year [4]. - Short-term borrowings amounted to HKD 410 million, with a risk of default [4]. - Cash reserves stood at HKD 3.78 billion at the end of 2024 [4]. Operational Developments - The company is focusing on digital transformation, with e-commerce revenue rising to 30% and live sales increasing by 41% [5]. - The introduction of an AI customer service system aims to enhance online conversion rates [5]. - The light smart watch has entered mass production, expected to launch in Q2 2025 [5]. Global Expansion - The automation upgrade of the European production base has been completed, and a new center in North America is set to cover all 50 states by 2025 [5].