Loctek(300729)2025-04-21 09:16Group 1: Overall Business Performance - In 2024, the company achieved a revenue of 5.67 billion CNY, a year-on-year increase of 45.33% [2] - Net profit attributable to shareholders was 336 million CNY, a decline of 46.99% compared to the previous year [2] - The decrease in net profit was primarily due to a significant drop in non-recurring gains from the sale of overseas warehouses [2][3] Group 2: Overseas Warehouse Operations - The number of self-operated overseas warehouses increased from 12 to 21, with total operational area expanding by 128.63% to 662,100 square meters by the end of 2024 [4] - The company served 1,175 outbound enterprises, with over 11 million packages shipped [4] - Current warehouse utilization is between 60%-70%, with new warehouses at 40%-50% utilization expected to rise [5] Group 3: New Product Development and Profitability - New products, including ergonomic chairs and electric sofas, accounted for over 10% of cross-border e-commerce revenue in 2024 [6] - The company aims to increase the sales proportion of new products to 15%-20% in the future [6] - New products have similar gross margins to traditional products, but higher marketing costs reduce net profit [6] Group 4: Impact of Trade Tariffs - Some customers are hesitant to ship due to concerns over tariffs, while larger sellers continue to ship to maintain platform rankings [7] - The company has raised prices and is utilizing factories in Vietnam to mitigate the impact of a 10% tariff [7] Group 5: Future Outlook - The company aims to maintain steady growth in 2025, focusing on smart home and overseas warehouse sectors [7] - Plans include enhancing product offerings in smart home and health office categories, and strengthening brand development [7]