Major global markets all declined, IPG's performance was under pressure

IPG's performance in major global markets declined across the board. Except for Japan, where sales increased by 15% year-on-year, other markets such as North America, China and Europe all declined by 31%, 22% and 22%, respectively. In addition, the company's order backlog also decreased to US$636 million, a year-on-year decrease of 8%, which further increased the company's pressure. IPG expects sales in the first quarter of 2025 to be between US$210 million and US$240 million, with a gross profit margin of between 36% and 39%. The company said it will continue to focus its main efforts on R&D investment in future products and the optimization of existing business processes.