Loctek(300729) 新浪财经·2025-04-21 06:43Core Insights - The company reported a significant increase in revenue for 2024, with total revenue reaching 5.67 billion, a year-on-year growth of 45.3%, while net profit decreased by 47% to 336 million [1] - The decline in profit is attributed to several factors, including the transition from small to large warehouses, increased R&D and operational costs, and high shipping fees impacting cross-border e-commerce profitability [1] Group 1: Financial Performance - In Q4 2024, revenue was 1.695 billion, up 39.4% year-on-year, but net profit fell by 39.7% to 7 million [1] - The company's gross margin for 2024 was 29.1%, down 7.4 percentage points, and net profit margin was 5.9%, down 10.3 percentage points [4] - The company adjusted its profit forecast for 2025-2027, expecting net profits of 390 million, 460 million, and 530 million respectively [5] Group 2: Business Segments - The overseas warehouse business generated 2.423 billion in revenue for 2024, a remarkable growth of 154.76%, with a gross margin of 10.37% [2] - The cross-border e-commerce segment reported revenue of 2.026 billion, a year-on-year increase of 14.28%, with a strong focus on expanding product categories and enhancing brand presence [3] - The company has established itself as a leading player in the overseas warehouse sector, serving 1,175 outbound enterprises and handling over 11 million packages in 2024 [2] Group 3: Strategic Developments - The company is enhancing its competitive edge by building self-operated overseas warehouses, with the first one expected to be operational by the end of 2025 [2] - The company is focusing on developing new products and business models, with a significant increase in R&D investment to support innovation [1][3] - The independent sales channel has shown strong growth, with revenue from independent sites reaching 819 million, a 22.04% increase year-on-year [3]