Bluetrum(SH:688332)2024-11-22 10:22Group 1: Company Overview - Zhongke Lanyun specializes in the research, design, and sales of wireless audio SoC chips, with a product structure that includes eight main product lines such as Bluetooth headset chips and AI voice recognition chips [2] - The company’s products are widely used in brands like Xiaomi, realme, Baidu, and Anker, among others [2] Group 2: Financial Performance - In the first three quarters of 2024, the company achieved a revenue of 1.248 billion CNY, representing a year-on-year growth of 18.91% [2] - The net profit attributable to shareholders was 207 million CNY, with a year-on-year increase of 4.80%, while the net profit excluding non-recurring items reached 175 million CNY, up by 26.45% [2] Group 3: Product Development and Market Strategy - Since 2019, the company has been implementing a brand strategy, gaining recognition in the mid-to-high-end market with its "Lanyun Xunlong" series high-end chips [3] - The company plans to launch the "Xunlong 2nd Generation +" chip in 2024, which has already been adopted by several brands for various audio products [3] Group 4: AI Integration and Future Plans - The Xunlong 3rd Generation BT895x chip supports AI functionalities and has been integrated into products like the FIIL GS Links AI headphones, marking it as the second product in the market supporting large model AI [4] - The company is collaborating with ByteDance's cloud service platform to enhance AI capabilities in its products, aiming to provide better user experiences in AI wearable solutions [4] Group 5: Market Trends and Competitive Edge - The company’s smart wearable products, particularly the AB568X and AB569X series, are expected to significantly boost revenue and improve gross margins due to their high performance and cost-effectiveness [4] - The company is actively exploring mergers and acquisitions to enhance its technological capabilities and product offerings in response to market demands [5]