Group 1: Performance Drivers - The global LED display market is expected to reach $7.971 billion in 2025 and $10.236 billion by 2028, with a CAGR of 7% from 2023 to 2028 [3] - The Mini LED market is projected to grow to $3.3 billion by 2028, with a CAGR of approximately 40% from 2024 to 2028 [3] - The company is focusing on high-definition technology upgrades, transitioning from 2K to 4K and exploring 8K and 16K markets, indicating significant growth potential [3] Group 2: Revenue and Profitability - The company's overseas revenue increased by 32.03% in 2024, accounting for 19.10% of total revenue [4] - The gross margin improved due to the rapid growth in the MLED sector and higher-margin overseas sales, which increased by 3.57% year-on-year [4] - The top five customers contributed 27.20% of total sales, with the largest customer generating $28.4 million, representing 8.66% of total sales [5] Group 3: Inventory and Supply Chain Management - The inventory turnover rate decreased from 1.39 times in 2023 to 1.03 times in 2024 due to increased IC reserves [5] - The company employs a "PO+Forecast" model for procurement planning to enhance supply chain efficiency [5] - A diversified supplier strategy is in place, with 1-2 international and 2-3 domestic suppliers for the same type of chips to mitigate risks [5] Group 4: Investor Relations and Communication - The investor relations activity involved thorough communication and adherence to regulations, ensuring no significant undisclosed information was leaked [6]
诺瓦星云(301589) - 2025年6月24日投资者关系活动记录表