Jinma Rides(SZ:300756)2025-04-25 09:24Group 1: Company Performance Overview - In 2024, the company experienced a net profit decline of 84.07%, with a non-recurring net profit of only 874,100 yuan [3][6] - Overall revenue and product gross margin decreased compared to 2023, primarily due to market fluctuations and new market expansions [3][12] - The company achieved a significant increase in new orders, with a 42.35% rise in domestic and international markets compared to 2023 [3][9] Group 2: Revenue Growth and Market Expansion - International market revenue surged by 414.84% in 2024, attributed to successful product entries into major theme parks like Universal Studios [3][11] - Revenue from amusement investment operations increased by 174.31% compared to 2023, indicating a growing regional influence [3][6] - The company aims to enhance its international market presence by establishing subsidiaries and marketing channels in regions like Southeast Asia and North America [4][11] Group 3: Strategic Initiatives and Future Outlook - The company plans to continue its "manufacturing + cultural tourism" dual-drive strategy, focusing on technology innovation and global expansion [3][6] - Upcoming projects, such as the "Golden Horse Digital Cultural Tourism Industrial Park," are expected to improve product delivery capabilities and support long-term growth [12][18] - The company is committed to optimizing product structure and enhancing delivery capabilities to improve gross margins and overall profitability [12][18] Group 4: Challenges and Responses - The company faces challenges from macroeconomic fluctuations, rising operational costs, and intensified market competition [3][12] - To address declining gross margins, the company will adjust its operational strategies and enhance core customer development [12][18] - The company acknowledges the impact of historical orders on current performance, as many deliveries in 2024 were for previously signed low-margin products [8][12]