Cosonic(SZ:300793)2025-05-09 09:26Strategic Positioning and Market Response - The company emphasizes the importance of product quality over price competition in the ODM market, aiming to optimize production processes and enhance efficiency to maintain competitive pricing while providing value-added solutions to brand partners [1][2]. - The company plans to expand growth through external investments that align with its strategic goals and enhance core competitiveness [2]. Financial Performance and Profitability - In 2024, the company achieved a revenue of CNY 2.467 billion, a 3.76% increase from the previous year, but experienced a notable decline in net profit due to customer structure adjustments and increased management costs [11]. - The gross profit margin decreased by 3.33% due to lower margins from certain domestic clients, prompting the company to implement cost control measures and focus on high-value customers [16]. Research and Development - The company allocated approximately CNY 129 million to R&D in 2024, representing 5.22% of total revenue, with plans to increase investment to maintain competitiveness and meet market demands [12]. - The company holds 33 patents related to AI/AR technology, indicating a strong commitment to innovation in the AI glasses market [3]. Supply Chain and Cost Management - The company has established close relationships with domestic suppliers to mitigate the impact of import tariffs on raw materials, ensuring stable supply chains [5]. - Strategies include optimizing raw material procurement, inventory management, and production processes to control unnecessary expenses and maintain profitability [3]. Market Expansion and Customer Strategy - The company aims to balance domestic and international market development, particularly focusing on the European and American markets as key growth areas [3]. - Plans to diversify customer bases and reduce reliance on single markets or product categories are in place, especially in light of potential tariff impacts on overseas revenues [10]. Operational Efficiency and Performance Stability - The company employs flexible production planning and inventory management to smooth out seasonal performance fluctuations, ensuring alignment with market demand [14]. - Continuous communication with clients helps in forecasting market needs and adjusting production accordingly [13]. Shareholder Returns and Future Outlook - The company plans to distribute dividends based on a three-year shareholder return plan, committing to a minimum of 10% of distributable profits annually, provided there are no significant investment plans [15]. - The management is focused on improving profitability while balancing cost control and business expansion efforts [11].