Core Viewpoint - The company, Lexin Technology, reported significant growth in both revenue and profit for the year 2024, driven by the expansion of new customers and applications in the AIoT sector, indicating a strong market position and innovative capabilities [1][2]. Financial Performance - In 2024, the total revenue reached 2.01 billion yuan, representing a year-on-year increase of 40% - The net profit attributable to shareholders was 340 million yuan, up 149% year-on-year - The company's chip revenue was 783 million yuan, also up 43% year-on-year, while module and development kit revenue was 1.21 billion yuan, increasing by 38.7% [1] - For Q4 2024, revenue was 547 million yuan, reflecting a year-on-year growth of 34.7% and a quarter-on-quarter increase of 1.3% [2] Profitability Metrics - The gross margin for the IC business was 43.9%, an increase of 3.35 percentage points year-on-year - The gross margin for chips was 51.5%, up 4.64 percentage points year-on-year, while the gross margin for modules and development kits was 38.9%, an increase of 2.45 percentage points [1] - In Q4 2024, the gross margin was 46.9%, which is a year-on-year increase of 6.8 percentage points [2] Business Expansion and Innovation - The company is expanding its AIoT ecosystem, with a focus on both cloud and edge solutions - As of the end of 2024, the number of GitHub ESP32 projects reached 82,100, indicating a robust developer community - The acquisition of a majority stake in M5Stack has strengthened the company's position in the education and developer markets [2] Product Development - The company has integrated AI algorithms into its products, enhancing capabilities such as image recognition and voice wake-up features - New products like the S3 and P4 have reinforced edge AI functionalities, while the C61 supports WiFi6, significantly improving connectivity [2]