supor(002032) 新浪财经·2025-04-25 10:34Group 1 - The company reported Q1 2025 revenue of 5.786 billion yuan, an 8% year-on-year increase, and a net profit attributable to shareholders of 497 million yuan, a 6% increase year-on-year [1] - The company benefited from the home appliance replacement policy, with core categories like rice cookers and microwaves included in the national subsidy program [1] - The external sales experienced rapid growth due to export demand influenced by U.S. tariff policies [1] Group 2 - In 2024, the cookware business generated revenue of 6.836 billion yuan, a 12.88% increase year-on-year, while the electrical appliances business achieved revenue of 15.3 billion yuan, a 2.25% increase year-on-year [2] - The company focused on product innovation in key categories, such as non-stick technology for iron pans and launched popular multifunctional products [2] - Domestic sales revenue was 14.757 billion yuan, a 1.20% decrease year-on-year, while external sales reached 7.411 billion yuan, a 21.28% increase year-on-year [2] Group 3 - The company is accelerating the integration of online and offline channels, maintaining growth in online sales despite intensified competition [3] - Collaborations with platforms like Meituan and JD Daojia are enhancing the offline store ecosystem [3] - The company expects a total amount of related transactions for 2025 to be 7.46 billion yuan, a 5% increase year-on-year, benefiting from the recovery in overseas demand [3] Group 4 - The profit forecast for 2025-2027 is set at 2.38 billion, 2.48 billion, and 2.61 billion yuan, representing year-on-year growth of 6.0%, 4.2%, and 5.4% respectively [4] - The company maintains a "buy" rating due to its strong market position in traditional small appliances and successful online channel transformation [4]