Bluetrum(688332)2024-08-16 10:34Financial Performance - In the first half of 2024, the company achieved a revenue of 7.91 billion CNY, representing a year-on-year growth of 21.11% [1] - The net profit attributable to shareholders was 1.35 billion CNY, with a year-on-year increase of 19.83%; the net profit after deducting non-recurring gains and losses was 1.09 billion CNY, reflecting a growth of 31.10% [1] Product Development and Market Expansion - The company has expanded its product line to include Bluetooth audio chips, AI voice recognition chips, and various IoT chips, with applications in TWS headphones, smart wearables, and wireless microphones [1][3] - The second-generation BT892X series is utilized in translation headphones supporting 40 languages, featuring adjustable playback speeds and advanced noise reduction capabilities [3] - The company has successfully integrated its chips into products from major brands such as Xiaomi, realme, and Baidu, enhancing its brand supply system [1][3] Inventory and Cash Management - As of June 30, 2024, the company's inventory increased compared to the end of the previous year, attributed to proactive stocking in preparation for the traditional sales peak in the third and fourth quarters [4] - The cash on hand is primarily from raised funds, which will be allocated to upgrading Bluetooth audio chips, IoT chip development, and establishing a research and development center [4] Market Trends and Competitive Position - The company is well-positioned to benefit from the trend of brands offering more cost-effective products, as it has focused on high cost-performance products for years [5] - The gross margin improved significantly in the second quarter due to expanded product applications and strict cost control measures [5] Future Outlook - The company plans to continue enhancing product performance and expanding its market presence, with a focus on smart wearable technology and new product development [4][5] - There is an ongoing commitment to maintain reasonable inventory levels and manage procurement costs effectively in response to market demand [4]