FSL(SZ:000541)2024-05-17 01:41Group 1: Financial Performance - In Q1 2024, Nanning Liaowang achieved revenue of 1.585 billion CNY, a year-on-year increase of 1.67% [1] - Nanning Liaowang's net profit for 2023 was 471.943 million CNY, up 6.84% year-on-year [1] - Guoxing Optoelectronics reported Q1 2024 revenue of 941 million CNY, a year-on-year growth of 18.12% [1] - Guoxing Optoelectronics achieved a net profit of 27.9434 million CNY in Q1 2024, increasing by 29.03% year-on-year [1] Group 2: Business Operations - Nanning Liaowang's main clients include major automotive manufacturers such as SAIC-GM-Wuling and Changan Automobile [1] - The company launched 8 new vehicle projects and 5 module projects in Q1 2024, focusing on expanding the new energy vehicle market [1] - The general lighting business has four main sales channels: hardware distribution, home channels, engineering channels, and e-commerce/retail, with hardware distribution being the largest [2] Group 3: Profitability and Market Trends - The gross profit margin for general lighting products in 2023 was 25.03%, an increase of 2.87 percentage points year-on-year [2] - In Q1 2024, the gross profit margin was 23.16%, up 1.74 percentage points year-on-year [2] - The downturn in the real estate market has impacted the general lighting industry, leading to slower market growth and increased competition [2] - The increase in net profit outpacing revenue growth in Q1 2024 is attributed to optimized product structure and cost control [3]