Core Insights - The company achieved a revenue of 3.531 billion yuan in 2024, representing a year-on-year growth of 11.98%, and a net profit attributable to shareholders of 142 million yuan, up 30.95% [1] - In Q4 2024, the company reported a revenue of 1.132 billion yuan, a year-on-year increase of 28.24%, and a net profit of 38.41 million yuan, growing by 333.24% [1] - For Q1 2025, the company generated a revenue of 778 million yuan, an 8.61% increase year-on-year, with a net profit of 23.62 million yuan, up 1.15% [1] Revenue Structure Optimization - The company focuses on three core sectors: cleaning appliances, water health, and personal health, leveraging a dual-brand strategy with Philips to enhance product offerings and market reach [2] - R&D investment reached 190 million yuan in 2024, a 25.54% increase, supporting product innovation and competitive advantage [2] - The revenue from home environment and water health products accounted for 39.17% and 39.41% of total revenue, respectively, with water health product revenue growing by 19.51% [2] Personal Health Product Growth - The personal health product category, particularly fascia guns and neck massagers, saw sales exceed 731 million yuan in 2024, marking a year-on-year growth of 27.11% [3] Manufacturing and Global Expansion - The company emphasizes lean manufacturing as a foundation for growth, enhancing production capabilities and efficiency through technology and automation [4] - In 2024, overseas revenue grew by 20.42%, with significant market presence in Southeast Asia, Japan, Korea, Europe, and the Middle East [4] - The company is actively expanding its overseas channels by leveraging local teams and participating in international trade events to enhance market influence [5] Policy Alignment and Market Opportunities - The company is strategically positioned to benefit from national policies such as "old-for-new" and energy efficiency subsidies, aligning product innovation with energy-efficient upgrades [5]
德尔玛2024年年报：营收净利双增，多赛道创新驱动高质量发展