UNILUMIN(SZ:300232)2025-04-25 12:20Financial Performance - In 2024, the company achieved a revenue of CNY 7.774 billion, a year-on-year increase of 4.90% [2] - Overseas revenue reached CNY 4.777 billion, accounting for 61.45% of total revenue, with a year-on-year growth of 18.33% [2] - The gross profit margin for 2024 was 29.11%, up by 1.09 percentage points from the previous year [3] - The net profit attributable to shareholders was CNY 100 million, a decrease of 30.86% year-on-year [3] - Excluding investment losses and exchange rate fluctuations, the adjusted net profit was CNY 193 million, up from CNY 95 million the previous year [3] - In Q1 2025, revenue was CNY 1.576 billion, a year-on-year increase of 5.63%, with a net profit of CNY 74.155 million, up 737.04% [3] Market Outlook - The domestic market is expected to benefit from policy incentives and the maturation of Mini/Micro LED technology, driving demand in various sectors [4] - The company plans to expand its presence in high-value downstream applications, integrating AI technology into its products [4][5] - The international market is projected to grow steadily, with strategic inventory management to ensure supply chain stability [5] Product Development - The Mini/Micro LED product line saw a doubling in sales in 2024, with a projected market share increase to 25%-30% in 2025 [6] - The company is focusing on high-margin Mini/Micro products and enhancing product value through technological advancements [6] - New AI products are being developed for both consumer and business markets, incorporating traditional cultural elements for differentiation [8][9] Strategic Responses - The company has proactively managed global supply chains to mitigate the impact of U.S. tariffs, including local acquisitions [7] - A balanced global sales network helps to reduce risks associated with geopolitical changes [7] - The company emphasizes continuous R&D investment to maintain competitive advantages and drive sustainable growth [14][15] XR Virtual Production - The company has established over 100 XR virtual studios globally, leading the market in this segment [16] - Collaborations with major video platforms and educational institutions are driving growth in XR virtual production [16] Financial Management - The company has implemented a robust credit rating system for accounts receivable management to ensure timely collections [17][19] - Inventory management practices focus on accurate demand forecasting and product standardization to enhance operational efficiency [19]