证券代码：300296 证券简称：利亚德 利亚德光电股份有限公司投资者关系活动记录表 编号：2025-08 | | ■特定对象调研 □分析师会议 | | --- | --- | | 投 资 者关 | □媒体采访 □业绩说明会 | | 系 活 动类 | □新闻发布会 □路演活动 | | 别 | ■现场参观 | | | □其他（电话会议） | | 参 与 单位 | 程子盈 中信证券 | | 名 称 及人 | 李凌霄 易方达基金 | | 员姓名 | | | 时间 | 2025 年 4 月 29 日 10:00-12:00 | | 地点 | 会议室 | | 上市公司 | 刘阳 董事会秘书兼副总经理 | | 接待人员 | 梁青筠 证券事务代表 | | 姓名 | | | | 本次调研以现场参观和会议交流的方式举行，会议中，董秘刘总做 | | | 了业绩分析和未来发展的展望，并回答了投资者的提问，主要内容如下： | | | 年业绩分析 一、2024 | | | 2024 年公司从报表数据上来看确实不太理想，主要原因是 NP 公司 | | | 的商誉减值及其他一些减值。公司从 年开始通过外延并购增加了 15、16 | | 投 ...

Group 1: 2024 Performance Analysis - The company's performance in 2024 was impacted by goodwill impairment and other write-downs, with goodwill peaking at over 2.7 billion and reducing to 130 million after impairment [1] - Excluding these impairments, the company remained profitable from an operational perspective [1] - Increased market competition in 2024 led to significant adjustments in the company's strategy, including a severe decline in channel orders and low profit margins [1] Group 2: Strategic Adjustments - The company adopted a "direct channel integration" sales strategy, transitioning to a provincial-level management approach to enhance market penetration [2] - Major adjustments were made in overseas markets, including a change in CEO and a unified management approach across core departments [2] - Cost reduction and efficiency improvements were prioritized through digital transformation and organizational restructuring [2] Group 3: 2025 Focus Areas - All business units will be assessed based on profit-centric metrics [4] - The display segment will focus on domestic direct channel integration and overseas dual-brand strategies, with accelerated development of new products like Hi-Micro [4][5] - The company aims to enhance its system integration capabilities and transition towards becoming a comprehensive service provider in display applications [5] Group 4: AI and Space Computing - The company is expanding its core optical motion capture technology and integrating AI with robotics, enhancing its offerings in special industries [6][7] - An internal AI service platform has been established to improve operational efficiency, alongside external AI-integrated products [7] Group 5: Overseas Market and Production - The overseas business has grown from 30% in 2021 to 45.64% in 2024, with North American operations accounting for about 20% of revenue [8] - The company has established a factory in Slovakia to mitigate trade war impacts, with plans to accelerate construction of a factory in Saudi Arabia [9][10] Group 6: NP Company Performance - NP Company reported a revenue of 282 million with a net profit of 60-70 million in 2024, but faced a decline due to reduced demand in the U.S. and operational disruptions [11] - The goodwill impairment was a result of various factors, including a significant drop in revenue and operational challenges [12] Group 7: Cultural Tourism and Future Prospects - The cultural tourism segment generated 710 million in revenue in 2024, maintaining a steady 10% share of total revenue, but faced profitability challenges [12] - The company is poised to leverage new government policies to enhance cash flow and expand its service offerings in the cultural tourism sector [12]