Core Insights - The company reported a slight increase in revenue but a decline in net profit and non-recurring net profit, indicating challenges in cost control and profitability [1] - The company is actively expanding its overseas production to mitigate tariff impacts and has established a factory in Thailand with a production capacity of 5 million sets of lighting products for export to the U.S. [4] - The company has made significant progress in its hydrogen energy strategy, including the establishment of a subsidiary focused on hydrogen technology and the development of a microgrid demonstration project [5][6] - The company has optimized its product and customer structure, achieving a 4.8% increase in lighting sales and significant growth in various regional markets [7] Financial Performance - The company achieved total revenue of 3.176 billion yuan, a year-on-year increase of 3.27% [1] - The net profit attributable to shareholders was 203 million yuan, a year-on-year decrease of 5.73% [1] - The non-recurring net profit was 147 million yuan, down 19.77% year-on-year [1] Overseas Expansion - To counter U.S. tariffs on Chinese products, the company invested 300 million Thai Baht (approximately 61.92 million yuan) to establish a subsidiary in Thailand [4] - The Thai factory commenced operations in June 2024 and has been certified for quality and safety standards [4] - The company signed an exclusive export agreement with a Vietnamese lighting company, with export amounts nearing 10 million USD in 2024 [4] Hydrogen Energy Strategy - The company established Zhejiang Sunshine Green Hydrogen Technology Co., Ltd. to focus on hydrogen energy research and applications [5] - A 5kW anion exchange membrane electrolyzer was successfully developed, and a microgrid demonstration project was completed at the company’s headquarters [5][6] - The company collaborates with research institutions to promote hydrogen technology and has applied for national innovation projects [6] Market Expansion - The company achieved a 4.8% increase in lighting sales, marking a successful transition from a focus on light sources to lighting products [7] - The Asia-Pacific marketing center saw a 12% growth in South Korea and a remarkable 142.41% growth in Taiwan [7] - The Americas marketing center experienced a 14.02% sales increase, while the European marketing center's net profit grew by 22.87% [7]