On the evening of August 28, Greenlink Technology (301606), which just landed on GEM in July of this year, revealed its first semi-annual report since listing. Financial reports show that in the first half of 2024, Greenlink Technology achieved operating income of 2.743 billion yuan, an increase of 29.31% year on year; net profit attributable to shareholders of listed companies was 0.207 billion yuan, up 11.30% year on year; and net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 0.201 billion yuan, an increase of 13.59% year on year. The company's mid-report debut achieved a “good start” and handed over a brilliant answer to the market.
In the first half of 2024, Greenlink Technology actively grasped market demand and launched competitive new products to the market through scientific and technological innovation, thereby expanding the product matrix, compounding the continuous deepening of overseas channel layout, and achieving steady growth in performance highlighting growth potential.
The scale of performance has been steadily expanding, and innovation has created a moat for development
Greenlink Technology has been deeply involved in the field of consumer electronics for many years and is committed to providing users with a full range of digital solutions. The products mainly cover five major series: transmission, audio and video, charging, mobile peripherals, and storage, creating an ecological closed loop for the use of smart devices. During the reporting period, Greenlink Technology's five series of products all achieved varying degrees of growth. Among them, charging products and storage products performed particularly well, achieving year-on-year revenue growth of 53.48% and 34.73%, respectively.
Facing the rapidly changing wave of consumer electronics, Greenlink Technology adheres to the development concept of original technology innovation and has formed many core technologies. As of the disclosure date of the semi-annual report, Greenlink Technology and its subsidiaries had 24 invention patents (another 139 invention patents are pending) and 292 utility model patents. At the same time, product innovation was promoted with a high growth rate of R&D investment. In the first half of 2024, the company's R&D expenses were 0.139 billion yuan, an increase of 42.42% over the previous year.
With strong innovative strength, Greenlink Technology is at the forefront of the industry and is committed to product iteration and optimization to meet the growing needs of the market and consumers. The company has successively launched new products including NAS private cloud DXP series, Qi2 magnetic wireless power bank, 300W gallium nitride charger, H6Pro Bluetooth headset, etc., which are popular among consumers.
The overseas layout has achieved remarkable results and continues to open up room for long-term growth
With the deepening of globalization and digitalization, cross-border e-commerce has become a new engine of global economic growth. Statistics from the General Administration of Customs show that in the first half of 2024, China's cross-border e-commerce imports and exports reached 1.22 trillion yuan, an increase of 10.5% over the previous year. Against this backdrop, Greenlink Technology's overseas sales continued to “accelerate”. During the reporting period, the company's overseas revenue was 1.516 billion yuan, an increase of 44.43% over the previous year, accounting for 55.31% of revenue.
Lvlian Technology relies on the “UGREEN Greenlink” brand. Overseas customers mainly come from economically developed markets and regions such as Europe and America. During the reporting period, the company's revenue in Europe and America increased by 43.90% and 54.14%, respectively. It is worth noting that due to good economic growth in Southeast Asia, the company's sales revenue in the region increased by 64.23% year-on-year during the reporting period.
The company has accelerated its entry into the fast track of overseas business development, mainly thanks to the continuous promotion of brand localization and channel system construction. Specifically, Greenlink Technology is promoting the rapid growth of dealer and supermarket channels through the construction of domestic and foreign subsidiaries and offices and the expansion of personnel organizations. Furthermore, while increasing the number of cross-border e-commerce platform sites such as Amazon, the company is also focusing on the refined operation of overseas e-commerce platforms, strengthening the emotional ties between brands and consumers through personalized marketing strategies, and further expanding the brand's voice.
Looking forward to the future, Greenlink Technology will rely on the power of the capital market to actively grasp consumer electronics industry trends and market needs, enhance product R&D and design capabilities, deepen domestic and foreign market construction, and provide consumers with more high-quality technology products and value. At the same time, the company will continue to improve standardized operation and management capabilities to achieve long-term stable development of the enterprise and create greater value for society and investors.