The 2024 annual report of VRC provides an overview of financial performance and significant activities during the year. VRC recorded a 15% revenue growth compared to the previous year, reaching $150 million. The company has also expanded its market into Asia, particularly in countries like Indonesia and Thailand. VRC’s flagship products, including renewable energy technology, received positive feedback from both the market and customers. Last year, VRC invested heavily in research and development, with total expenditure of $20 million, launching several highly-rated new products. Additionally, the report highlights challenges faced by the company, including competition from strong rivals and supply chain issues. The management commits to implementing adaptive strategies to maintain competitive positioning and promote sustainable growth. Finally, the report also forecasts for 2025, with a revenue growth target of $180 million.
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