EDIFIER(002351)2025-05-23 07:26Financial Performance - In 2024, the company achieved total revenue of CNY 2.943 billion, a year-on-year increase of 9.27% [1] - Gross margin reached 40.35%, up 3.02% from the previous year [1] - The audio product series generated revenue of CNY 999 million, a growth of 20.39% year-on-year, with a gross margin of 41.31%, an increase of 2.85% [1] - Domestic sales revenue grew by 23.12%, while export revenue increased by 13.66% [1] - The net profit attributable to the parent company for 2024 was CNY 429 million, reflecting a year-on-year growth [1] Product Development and Market Strategy - The company launched several high-end flagship products, including TWS NeoBuds Pro3 and Hi-Fi level flagship speaker S300 [3] - New products in various price segments were released, such as the X1 Evo TWS earphones and Lolli ANC headphones [3] - The open-ear headphone market is rapidly growing, with the company investing heavily in this direction since 2024 [3] - The company has established a multi-brand strategy, launching brands like "AIRPULSE" for Hi-Fi audio and "HECATE" for esports [3] Recent Trends and Challenges - In Q1 2025, the company's revenue and net profit slightly declined compared to the same period last year [1] - The gross margin for Q1 2025 was 40.94%, an increase of 1.64% year-on-year, indicating a continued upward trend in profitability [1] - The company is focusing on high-end and differentiated product development to address market challenges [1]