Financial Performance - In 2024, the company achieved a revenue of 1.402 billion CNY, an increase of 24.85% compared to the previous year [3] - In Q1 2025, the revenue reached 348 million CNY, marking a 40.28% increase year-on-year [3] - The net profit attributable to shareholders for 2024 was 176 million CNY, up by 0.81% from the previous year [3] - For Q1 2025, the net profit was 40 million CNY, reflecting a 14.42% increase compared to the same period last year [3] Market Expansion and Growth Drivers - The company is focusing on the commercial vehicle monitoring sector, anticipating a shift towards smart vehicle-mounted video recorders with advanced features [4] - In overseas markets, the company is actively pursuing product certifications in the EU and Americas, aiming to expand its presence in these regions [4] - The company plans to enhance its market share in passenger vehicle positioning terminals while exploring new applications in pet tracking and asset management [4] - The smart travel sector is expected to grow due to the increasing demand for updated shared electric bicycles, driven by new safety regulations [4] Industry Outlook - The company aims to be a leader in the Internet of Things (IoT) sector, leveraging advancements in communication, storage, positioning, and AI technologies [5] - The ongoing technological breakthroughs are expected to accelerate the iteration of IoT products, expanding applications into smart transportation and payment systems [5] - AI technology, particularly models like DeepSeek, is anticipated to drive new growth opportunities within the IoT industry [6] Product Development and Strategy - The company positions itself as a solution provider in the IoT vertical, covering the entire value chain from core technology to end-user applications [7] - It has developed advanced products for smart vehicles, including those with features for driver assistance and monitoring [7] - The company is committed to maintaining a significant R&D investment to enhance its technological capabilities and product offerings [7] Financial Management and Risk Mitigation - In 2024, the company’s export revenue reached 327 million CNY, accounting for 23.35% of total revenue [9] - The company has implemented a foreign exchange hedging policy to mitigate risks associated with currency fluctuations [9] - The impact of tariffs due to the US-China trade conflict is considered minimal, as most raw materials have been domestically sourced [9] Profitability Challenges - The gross margin for smart travel products dropped to 8.52% in 2024 from 16.78% in 2023, attributed to increased competition and pricing pressures [10] - The company is focusing on optimizing product structure and improving operational efficiency to enhance profitability [10] - Despite a slight decline in revenue from smart payment hardware, the overall business remains stable, supported by strong growth in core operations [10]
博实结(301608) - 2024年年度网上业绩说明会投资者关系活动记录表2025年5月7日