Bluetrum(SH:688332)2024-04-30 07:37Financial Performance - In Q1 2024, the company achieved a revenue of 363 million CNY, representing a year-on-year increase of 18.19% [2] - The net profit attributable to shareholders was 54.89 million CNY, up by 11.07% year-on-year [2] - The net profit after deducting non-recurring gains and losses was 45.80 million CNY, with a year-on-year increase of 24.27% [2] Taxation and Profit Impact - Starting from 2024, the company will pay corporate income tax at a rate of 10%, which is lower than the standard rate of 25% for ordinary enterprises and 15% for national high-tech enterprises [3] - The new tax rate will have an impact on net profit but remains favorable compared to standard rates [3] Gross Margin and Inventory Management - The gross margin in Q1 2024 decreased due to seasonal factors and promotional strategies, but it increased by 0.85% compared to Q1 2023 [3] - As of March 31, 2024, inventory levels saw a slight increase compared to the end of the previous year, with proactive stock management in place to prepare for new product launches [3] Product Development and Market Strategy - The company is enhancing chip integration and performance, focusing on high-end markets with the "Xunlong" series chips, which have been adopted in Baidu's AI products [4] - The smart wearable business is expanding rapidly, with a comprehensive product lineup catering to various customer needs, particularly in the smartwatch segment [4] Cost Management - The R&D team is focused on upgrading chips to ensure high cost-performance ratios while maintaining reasonable expense levels [4] - Long-term partnerships with suppliers are established to manage inventory and respond to market demand effectively [4]