Jade Bird Fire(SZ:002960)2025-04-15 11:58Financial Performance - In 2024, the company achieved a revenue of CNY 4.923 billion with a gross margin of 36.56%, maintaining stability [4] - The net profit attributable to shareholders was CNY 353 million, with a decline attributed to increased stock incentive costs (CNY 31.45 million), foreign exchange losses, and increased human resource costs [3][4] - The revenue in Q4 2024 showed a year-on-year growth of 5.65%, indicating signs of recovery [4] Business Segments - Domestic commercial and residential alarm and evacuation business generated CNY 3.272 billion, a decrease of 6.61% due to a 27.7% drop in real estate completion area and inventory clearance pressures [4] - The industrial and sector fire safety business saw significant growth, with cumulative shipments reaching CNY 510 million, a year-on-year increase of 46% [4] - Overseas business revenue was approximately CNY 703 million, reflecting a growth of 9.92% year-on-year [5] Strategic Initiatives - The company plans to strengthen its domestic commercial fire safety business while expanding overseas and industrial fire safety operations [6] - Emphasis on developing integrated solutions combining fire safety and communication technologies, leveraging core technologies for enhanced safety [6] - The company is exploring the application of fire-fighting robots, focusing on specific high-risk scenarios [10] Market Outlook - The company anticipates a gradual stabilization of the domestic commercial fire safety market, benefiting from new national standards and urban renewal initiatives [7] - The competitive landscape in the evacuation market is expected to evolve, with a focus on maintaining market share amid industry pressures [7] Challenges and Responses - The gross margin decreased by 1.68% due to shrinking market demand and intensified competition, but the company has implemented flexible pricing strategies to mitigate impacts [7] - The management team has been optimized to strengthen the foundation for global expansion despite challenges posed by tariffs and trade adjustments [7][9]