Absen’s revenue in 2024 is 3.663 billion yuan, with good growth in overseas markets

On April 1, Absen (300389.SZ) released its 2024 annual report. The company's total operating income was 3.663 billion yuan, a decrease of 344 million yuan compared with the same reporting period last year, and a decrease of 8.58% compared with the same period last year. The net profit attributable to the parent company was 117 million yuan, a decrease of 199 million yuan from the net profit attributable to the parent company in the same reporting period last year, and a year-on-year decrease of 62.98% in the same period last year. The net cash inflow from operating activities was 153 million yuan, a decrease of 377 million yuan from the net cash inflow from operating activities during the same reporting period last year, and a year-on-year decrease of 71.18% from the same period last year.

About the performance description, during the reporting period, the company created differentiated brand advantages through years of intensive cultivation and rational layout in overseas markets, effectively enhancing its competitiveness in overseas markets. The overseas market showed a good growth trend and achieved operating income of 2,930.8814 million yuan, an increase from the same period in 2023. 13.78%; the Chinese market is affected by the economic environment and competitive situation. The company has adjusted from focusing on scale expansion to selecting value customers for in-depth development, and has implemented The current operating income is 731.7351 million yuan, a decrease of 48.84% compared with the same period in 2023.

The company achieved a gross profit margin of 27.48%, a decrease of 1.53% year-on-year in 2023. In the face of competitive challenges, the company actively responded and continued to focus on the efficient implementation of business strategies such as cost control, pricing strategy optimization, and product structure adjustment. The gross profit margin in the second half of the year increased compared with the first half of the year.

The company adheres to strategic foresight, adheres to a long-term investment strategy, closely focuses on market demand, optimizes product strategic layout, and strives to improve product research and development capabilities. With excellent product performance and profound technology accumulation, the company won the honor of "National Manufacturing Individual Champion".

At the same time, the company continues to strengthen key dimensions such as talent echelon, brand marketing, channel construction and operational capabilities to enhance overall competitiveness. Due to the advancement of the above strategic initiatives, Expenses increased compared to the same period in 2023, which had an impact on net profit.

In 2025, the company will continue to adopt the DSTE strategic management methodology to ensure the effective execution of the company's strategy and the realization of business goals. In the 2025 annual business plan, the company will start from multiple aspects to further expand business scale and brand influence. Specific measures include: improving the global sales network and deepening market penetration and layout; creating domestic high-end COB products to lead ultra-high-definition displays and intelligent experiences; strengthening the dual drive of brand value and marketing to help the rise of Absen's high-end technology brand; deepening global service competitiveness and consolidating service leadership; digital intelligence empowerment, transformation to reduce costs and increase efficiency; continue to establish and improve human resources management systems to enhance organizational effectiveness and talent competitiveness.