On February 28, Wasion Information (688100) announced its 2024 annual report, with an operating income of 2.74 billion yuan, an increase of 23.3% year-on-year; the net profit attributable to the parent company was 631 million yuan, an increase of 20.1% year-on-year; net profit after deducting non-attributable to the parent company was 610 million yuan, an increase of 24.9% year-on-year; net operating cash flow was RMB474 million, representing a year-on-year increase of 13.5%; EPS (fully diluted) was 1.2827 yuan.

In the fourth quarter, the company's operating income was 804 million yuan, an increase of 42.7% year-on-year; the net profit attributable to the parent company was 208 million yuan, an increase of 16.4% year-on-year; net profit after deducting non-attributable to the parent company was 200 million yuan, an increase of 53.0% year-on-year; EPS was 0.4234 yuan.

As of the end of the fourth quarter, the company's total assets were 4.957 billion yuan, an increase of 16.4% over the end of the previous year; The net assets attributable to the parent company were 3.351 billion yuan, an increase of 14.1% from the end of the previous year.

In its 2024 Annual Report, the Company highlighted its significant progress in operating its business. The report pointed out that in 2024, the company will focus on "improving quality and efficiency", and achieved sustained growth in operating income and net profit, especially the leapfrog development of overseas business, with overseas business revenue increasing by 85.40% year-on-year. The company launched nearly 50 new products during the reporting period, especially in AI products, with revenue accounting for 30% of new product revenue. In addition, the communication chip and module business also performed strongly, becoming the company's first major product.

In terms of internationalization strategy, the company has set up more than 10 overseas subsidiaries and sales representative offices by the end of 2024, and factories in Saudi Arabia and Indonesia are under construction to further promote the expansion of the international market. The report also mentioned that the company won more than 770 million yuan in the centralized procurement bidding of the State Grid and China Southern Power Grid, showing its leading position in the industry. Overall, the company's operating quality and cash flow have been significantly optimized in many areas, showing its strong development potential in the digital economy and new energy transformation.