The dual-main business strategy drives performance growth, and Pathfinder won the

Driven by the dual main business development strategy of "outdoor + chip", Pathfinder's performance growth is strong. Behind a series of vital data, Pathfinder is exploring a broader world through technological innovation: assisting new product iterations, serving national strategies, and gaining social recognition... With its spirit of facing difficulties that has not changed in the past 25 years, Pathfinder won the honor of "Industry Influence Brand of the Year" in the 2024 Financial Network New Consumption and New Economy Selection.

Adhering to the "outdoor + chip" dual main business strategy, the performance growth trend is strong

Thanks to the "outdoor + chip" dual main business development strategy, Pathfinder continued its strong performance growth trend in the first three quarters of this year. According to the financial report, in the first three quarters of 2024, Pathfinder achieved revenue of 1.108 billion yuan, a year-on-year increase of 19.04%; net profit attributable to shareholders of listed companies was 102 million yuan, a year-on-year increase of 120.78%; non-net profit after deducting was 91 million yuan, a year-on-year increase of 159.51%.

Exploring the core driving force behind the company's breakthroughs, the "outdoor + chip" dual main business development strategy is the key to helping Pathfinder use technology to break through industry barriers, build competitive advantages with its own "technological power", and thus lock in new opportunities.

Currently, domestic outdoor sports have gradually evolved into a new lifestyle. With the growth of the outdoor products market, competition among related companies in the industry has intensified. At the same time, people’s demand for unlimited styles of outdoor products also poses new challenges to industry players. As China's leading outdoor enterprise, Pathfinder relies on long-term accumulation in products, technologies, channels, etc., and has achieved high-quality development in the new consumption environment and brand competition cycle with new gameplay, multiple channels, and new styles.

It is reported that Pathfinder’s outdoor business mainly focuses on improving the three core competitiveness of brand power, product power and channel power. In terms of brand building, it takes "professionalization", "youthfulness" and "high-end" as its strategies to deeply cultivate young consumers and outdoor professional consumer groups. In the first three quarters of 2024, Pathfinder has promoted significant growth in both its outdoor business revenue and profits by optimizing its business structure and strengthening internal management. Its brand renewal and product rejuvenation strategies have also achieved certain results.

In terms of chip business positioning, Pathfinder is committed to becoming an IC leader in the field of high-quality displays, focusing on all categories of touch chip IC products and Mini/Micro LED display driver ICs. It has also acquired G2 Touch, a high-end touch chip company in South Korea, and Beijing Xineng, an analog chip design company specializing in the display field, allowing the chip business to begin to take shape. Among them, G2 Touch is a chip design company that provides customers with touch solutions for all categories (touch laptops, smartphones, tablets, etc.) based on its own patents. Its core team mainly comes from electronic companies such as Samsung and LG and has many years of industry experience. Beijing Xineng focuses on the Mini/Micro LED display driver chip business and is one of the few companies in the world that can provide Mini LED active display driver chip products. It is also the first domestic company to have both direct display and backlight MiniLED active display driver chip products.

It is worth noting that in terms of business connectivity, the chip business also provides more possibilities for Pathfinder’s outdoor business intelligence. Considering that the smart outdoor business is particularly suitable for creating outdoor products in special scenarios, Pathfinder starts from positioning, monitoring and search and rescue products, explores demand pain points, speeds up research and development and product iteration, and actively explores new forms of products.

The financial report shows that Pathfinder’s R&D investment in the first three quarters reached 50.28 million, a year-on-year increase of 16.56%. This data also shows that the company attaches great importance to technological innovation. After continuous investment and construction from 2021 to 2024, Pathfinder has ushered in a harvest period. With the chip business and outdoor business complementing each other, Pathfinder has broken the "ceiling" of the business space. At the same time, based on the second growth pole of chips entering the fast lane and the differentiated competitiveness of the dual main businesses, Pathfinder's foundation for sustainable development is becoming increasingly solid.

Focus on technology research and development, empower new product iterations, and serve national strategies

In the 25 years since its establishment, Pathfinder has been deeply aware that if it wants to maintain the uniqueness and competitiveness of the brand, it must continue to innovate. Whether it is continuous iteration of products or support for national key projects, it all reflects Pathfinder's leading position in the field of technology research and development.

On January 11, 2024, Pathfinder ushered in the glorious moment of its 25th anniversary. As a gift, Pathfinder released the HIMEX series of Chinese ladder jackets at ISPO Beijing 2024, aiming to inherit the spirit of extreme exploration and go to the world's extreme harsh environments with outdoor Pathfinders. It is reported that the Pathfinder HIMEX series of products was launched in 2013 and is positioned as a cutting-edge product series specially developed and customized for exploring the three poles of the earth (Antarctica, North Pole, and Everest). The newly released HIMEX series of Chinese ladder jackets - HIMEX 33 PRO and HIMEX 33, are Pathfinder's deep dive into the field of jackets. Through strong product awareness and R&D technology support, they have differentiated layouts in the fields of appearance design, fabric use, technology research and development, etc., with "professionalism and technology" as the core, strengthening the pattern structure, material technology, Advantages in processing technology and other aspects, strengthen the grasp of fashion trends, color matching, product design and comprehensive reflection of resource integration.

HIMEX33 PRO in the HIMEX series of Chinese ladder jackets uses GORE-TEX PRO 100D fabric. Compared with conventional jackets, its waterproof performance is increased by 75% and its windproof performance is increased by 5 times. It is continuously protected from storms and is more wear-resistant and scratch-resistant. The HIMEX series of Chinese ladder jackets are also specially designed based on Chinese people's climbing habits. The hood and sleeve elbows are three-dimensionally cut to better fit the human body and meet the needs of the wearer when climbing; the armpits are cut in one piece, so that the wearer has more room under the armpits when putting down the arms, and the hem is not involved when raising the arms; diagonal breathable zippers are added to the armpits, and the tilt angle makes it easier for the wearer to operate; the hem is increased to make the clothing fit the human body better and have better wrapping properties. In addition, the safety management details of the HIMEX series of Chinese ladder jackets are also implemented one by one based on the characteristics of extreme outdoor sports. Currently, the widths of the common jacket tape taping strips on the market are mostly 25mm and 13mm. HIMEX 33PRO uses an 8mm taping width for the inner non-stressed parts, which is a high-end technology in jackets.

At the end of 2024, Pathfinder once again returned with a variety of outdoor smart equipment, launching four outdoor smart equipment: lower limb exoskeleton, 5G smart outdoor watch, smart ski helmet and suspended mirror high-definition outdoor cinema.

Among them, the Pathfinder lower limb exoskeleton was jointly developed with Maibao Intelligent. It is fully autonomous and controllable from materials, structure to control system. Compared with similar products at home and abroad, the Pathfinder lower limb exoskeleton has achieved significant technological breakthroughs and performance improvements in many key areas. It has improved in terms of assist effect, battery life, adaptability, lightweight, and intelligent interaction. It can well meet the high-intensity use needs of users in various outdoor sports environments and provide safe and reliable assistance to outdoor enthusiasts. The Pathfinder 5G smart outdoor watch has a 1.85-inch high-definition super large round screen, an independent SIM card, supports 5G calls, Beidou positioning, one-key alarm, AI intelligent voice control and electronic compass and other functions. It can also be used as an emergency power bank. The Pathfinder smart ski helmet is a revolutionary product launched in partnership with the international smart helmet brand LIVALL that integrates safety, intelligence and comfort. The helmet has patented fall detection and SOS distress alarm functions. It has a built-in high-precision sensor. Once an accidental fall is detected, it will automatically send a text message containing precise positioning and distress to the emergency contact preset in the APP. Pathfinder suspended mirror high-definition outdoor cinema with small body Compact and lightweight, the main unit weighs only 110 grams, making it suitable for portable use when going out, and can be worn for long periods of time without stress. This product uses a glass-plastic hybrid aspheric multi-lens solution to present very high-definition image quality; it has an adjustable interpupillary distance function and supports millimeter-level adjustment accuracy of 58mm-74mm. For myopic people, it supports diopter adjustment function from 0D to -3.5D, and can be worn directly with glasses to always keep the eyes comfortable.

Han Ye, Vice President of Brand of Pathfinder Group, said, "Since its establishment 25 years ago, Pathfinder has always been driven by technological innovation and is committed to providing better products and services to the majority of outdoor enthusiasts. These products with excellent performance and advanced technology also mark that China's outdoor smart products are joining the world's advanced ranks."

While new products continue to be launched, Pathfinder continues to guarantee a number of national key projects. Pathfinder will begin to provide the "Jiaolong" submariners with a full set of work equipment for high-intensity and high-precision operations in 2023, successfully supporting many China Ocean scientific expedition missions. In August 2024, Pathfinder Group signed a contract with the National Deep Sea Base Management Center to jointly implement my country's "Marine Community with a Shared Future" concept through continued cooperation and provide strong support for improving global deep sea governance capabilities.

Currently, the recognition of Pathfinder’s technological innovation capabilities from all walks of life is also increasing. According to the "2024 China Textile and Apparel Industry Federation Science and Technology Award Award List" released in November, Pathfinder Group, as the main completion unit of the "Key Technologies and Applications of High-Performance Clothing Research and Development for Winter Sports Training Competitions" project, appeared in the first-class list of the "Science and Technology Progress Award". This honor is undoubtedly support and encouragement for Pathfinder to achieve higher leaps.

Looking forward to the future, Pathfinder will continue to rely on years of brand accumulation and technology accumulation, increase product development efforts, focus on core categories, and launch more competitive products. At the same time, the company also plans to carry out digital empowerment and multi-industry integration through endogenous growth and epitaxial expansion of the "outdoor + chip" dual main business development strategy, contribute to China's intelligent manufacturing, and draw a new blueprint for the development of industrial intelligence.