Group 1 - The Hang Seng Index fell by 0.55%, down 131 points, closing at 23,695 points, while the Hang Seng Tech Index decreased by 0.66% [1] - The early trading volume in Hong Kong stocks reached HKD 1,076 million [1] - Robot-related stocks were active, with DCH Holdings (00179) rising nearly 6% and SUTENG (02498) increasing over 2% due to the upcoming CMG World Robot Competition [1] Group 2 - Eucan Vision Bio-B (01477) surged over 18% after OT-703 was approved for real-world research in Boao, Hainan [2] Group 3 - Smoore International (06969) rose over 5% as Glo Hilo is set to launch in Japan, with positive feedback from the trial market for heated non-combustible products [3] - Youjia Innovation (02431) increased over 5% after its L4 autonomous driving minibus received project designation, following a series of product showcases at the Shanghai Auto Show [3] Group 4 - Maanshan Iron & Steel (00323) saw a rise of over 7% as the steel industry showed improving performance in Q1, with institutions noting a marginal improvement in the sector's fundamentals [4] - InnoCare Pharma (02577) surged over 15% due to a partnership with NVIDIA for the next-generation 800V power architecture, drawing attention to third-generation semiconductors [4] Group 5 - Gu Ming (01364) increased by 4.5%, reaching a new high, with expectations of being included in the Hong Kong Stock Connect next month and a projected net increase of over 2,000 stores for the year [5] Group 6 - Dekang Agriculture and Animal Husbandry (02419) rose over 7%, with stock prices hitting a new high as institutions are optimistic about the company's valuation recovery potential [6] Group 7 - Gome Retail (06808) saw an early rise of nearly 7%, reporting a turnaround with a profit of RMB 410 million for the year, while Dehong Capital will promote the development of various store formats [7] - New Town Development (01030) fell over 3% amid reports of plans to issue guaranteed bonds domestically, aiming to raise RMB 1.5 to 2 billion [7] - Alibaba Health (00241) dropped over 4%, despite a year-on-year profit increase of over 62%, with analysts stating that profits did not meet expectations [7]

Financial Performance - Revenue for 2024 reached RMB 654.5 million, a 37.4% increase from RMB 476.2 million in 2023[28] - Gross profit increased by 54.1% from RMB 68.0 million in 2023 to RMB 104.8 million in 2024, with a gross margin improvement from 14.3% to 16.0%[31] - The revenue from intelligent driving solutions rose by 25.2% to RMB 483.6 million in 2024, driven by increased demand and production stability[29] - Intelligent cockpit solutions revenue surged by 467.8% to RMB 104.2 million in 2024, attributed to a diverse range of solutions developed[29] - Sales costs increased by 34.7% to RMB 549.7 million in 2024, aligning with revenue growth[30] - Total loss for the year increased by 9.9% from RMB 207.2 million in 2023 to RMB 227.7 million in 2024[39] Revenue Breakdown - The revenue from intelligent driving solutions reached RMB 483.6 million in 2024, an increase of 25.2% compared to 2023, accounting for 73.9% of total revenue[10] - The revenue from intelligent cockpit solutions amounted to RMB 104.2 million in 2024, a significant increase of 467.8% compared to 2023, representing 15.9% of total revenue[12] - The revenue from vehicle-road collaboration business is projected to reach RMB 63.3 million in 2024, a decrease of 11.5% compared to 2023, accounting for 9.7% of total annual revenue[14] Research and Development - The R&D team consists of 376 employees, representing 64.6% of the total workforce, with a focus on diverse expertise from top universities[17] - The company has established five R&D centers, with the headquarters in Shenzhen coordinating efforts across Beijing, Shanghai, Wuhan, and Nanjing[17] - The company aims to enhance its end-to-end and large model technology capabilities to build more competitive intelligent driving solutions[20] - The integration of deep learning technology is being leveraged to optimize the human-machine co-driving experience, enhancing driving safety[15] Strategic Partnerships and Market Position - The company has established partnerships with leading OEMs and tier-one suppliers, enhancing its industry reputation and market presence[8] - The intelligent driving solutions market is driven by increasing demand and a growing number of contracts with OEMs[10] - The company aims to align its strategic positioning with current market trends to seize broader market opportunities[8] - Future strategies include deepening strategic cooperation with vehicle manufacturers to customize high-cost-performance mid-to-high-end intelligent driving solutions for various vehicle models[19] Operational Enhancements - The production process has been enhanced with the introduction of automated production lines and smart warehousing systems, aiming for high quality and flexibility[18] - The company aims to expand the operational design domain (ODD) of its intelligent driving systems from highways to complex urban roads, improving functionality coverage and scene pass rates[19] - The vehicle-road collaboration solutions are being redirected towards smart driving and smart cockpit businesses, aligning with advancements in single-vehicle intelligence technology[14] Employee and Governance - The company emphasizes competitive compensation packages, including performance-based bonuses and long-term incentive plans for employees[56] - The company has established a regular assessment system to evaluate employee performance, which influences salary increases and promotions[56] - The company is committed to employee training and development, providing onboarding and tailored continuous training programs[56] - The company has adopted the corporate governance code as per the listing rules and has complied with all provisions since the listing date, except for a specific provision mentioned in the report[99] Risk Management - The company has established a comprehensive risk management system, including risk assessment, strategy formulation, and monitoring processes[158] - The audit committee, consisting of three independent non-executive directors, oversees the implementation of the company's risk management policies[163] - The company has implemented strict internal procedures to ensure compliance with relevant rules and regulations, enhancing risk awareness across the organization[161] Corporate Governance - The board consists of nine directors, including four executive directors, two non-executive directors, and three independent non-executive directors[103] - The company has established four board committees: Audit Committee, Remuneration and Assessment Committee, Nomination Committee, and Strategic Committee to oversee specific areas of governance[108] - The company will continue to review the effectiveness of its corporate governance structure to assess the necessity of separating the roles of Chairman and CEO[114] Market Expansion and Competition - The company is actively exploring diversified business models and expanding into international markets, including the EU and Australia[23] - The company faces significant competition in its industry, which could adversely affect its business and financial performance if it fails to compete effectively[184] - The company is committed to investing heavily in research and development, although the outcomes may not meet expectations, potentially impacting short-term cash flow and profitability[184]

在国内我们今年已经看到了众多车企像BRD、吉利、奇瑞等等都掀起了制价平权的这样一个驾驶普惠行动 支架系统也正在从中高端的车型逐步的向中低端的车型在进行普及这个也将极大的带动支架相关功能的一个装配毫无疑问这也给我们所在的这样一个支架行业带来了非常重大的这样一个历史性的机遇 下面开始播报名字声明本次会议仅服务于邀请参会的广大投资者会议音频及文字记录的内容仅供参会者内部使用不得公开发布右驾创新未授权任何媒体转发本次会议相关内容未经允许和授权的转载转发均属侵权右驾创新将保留追究其法律责任的权利右驾创新不承担因转载转发而产生的任何损失和责任 市场有风险投资需谨慎提醒广大投资者谨慎做出投资决策在会议开始前我们提示各位投资者在主讲嘉宾翻译结束后将留有提问时间接下来请允许我介绍出席本次会议的公司管理层右驾创新CEO刘国钦先生右驾创新CFO文奇先生右驾创新董事会秘书罗希文女士下面有请公司领导发言谢谢 大家好我是优价创新的CEO刘国钦今天是优价创新上市后的首次年度业绩说明会很高兴在这里和大家汇报和分享我们2024年的业绩和进一步情况首先介绍一下我们这个行业的大的背景目前我们汽车行业正处在 智能化的一个高速发展期特别是人工智能技术 ...

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of RMB 654.5 million, a 37.4% increase from RMB 476.2 million in 2023[4]. - Gross profit for the same period was RMB 104.8 million, with a gross margin of 16.0%, up from 14.3% in 2023[4]. - The company experienced a net loss of RMB 227.7 million, compared to a net loss of RMB 207.2 million in the previous year[4]. - The adjusted net loss for the year was RMB 166.7 million, an improvement from RMB 184.8 million in 2023[4]. - Total comprehensive loss increased by 9.9% from RMB 207.2 million in 2023 to RMB 227.7 million in 2024[37]. - The total loss for the year was RMB 227.7 million, compared to RMB 207.2 million in the previous year[40]. - Cash and cash equivalents reached RMB 798.8 million as of December 31, 2024, up from RMB 199.6 million a year earlier[41]. - Total assets as of December 31, 2024, amounted to RMB 1,678,290,000, up from RMB 1,087,808,000 in 2023, showing a growth of 54.3%[55]. - The company reported a net loss attributable to owners of RMB (216,487) thousand in 2024, compared to RMB (197,238) thousand in 2023, indicating an increase in losses[80]. Revenue Breakdown - The intelligent driving solutions generated revenue of RMB 483.6 million in 2024, representing a 25.2% increase year-over-year and accounting for 73.9% of total revenue[10]. - Revenue from intelligent cockpit solutions is projected to reach RMB 104.2 million in 2024, a significant increase of 467.8% compared to 2023, accounting for 15.9% of total annual revenue[12]. - Revenue from the vehicle-road collaboration business is expected to reach RMB 63.3 million in 2024, a decrease of 11.5% from 2023, representing 9.7% of total annual revenue[13]. - Revenue from intelligent driving solutions increased by 25.2% from RMB 386.2 million in 2023 to RMB 483.6 million in 2024[27]. - Revenue from intelligent cockpit solutions surged by 467.8% from RMB 18.3 million in 2023 to RMB 104.2 million in 2024[28]. - Revenue from vehicle-road collaboration decreased by 11.5% from RMB 71.5 million in 2023 to RMB 63.3 million in 2024[28]. Expenses and Costs - Total sales cost rose by 34.7% from RMB 408.2 million in 2023 to RMB 549.7 million in 2024, consistent with revenue growth[29]. - General and administrative expenses increased by 43.9% from RMB 74.3 million in 2023 to RMB 106.9 million in 2024, primarily due to listing expenses[32]. - Financial asset impairment losses surged by 270.5% from RMB 6.1 million in 2023 to RMB 22.6 million in 2024, attributed to increased provisions for trade receivables[34]. - Net financial costs increased by 271.4% from RMB 1.4 million in 2023 to RMB 5.2 million in 2024, mainly due to higher interest expenses on bank loans[36]. - Research and development expenses rose by 4.2% from RMB 149.8 million in 2023 to RMB 156.1 million in 2024, driven by increased technical service costs[33]. Workforce and Talent Development - The R&D team consists of 376 employees as of December 31, 2024, making up 64.6% of the total workforce, with a focus on diverse professional backgrounds[18]. - The company has established a comprehensive internal talent development mechanism, including regular training and knowledge-sharing initiatives for employees[18]. - The company had 582 full-time employees as of December 31, 2024, all located in China, emphasizing its local workforce strategy[52]. - The company has established a competitive compensation package for employees, including performance-based bonuses and long-term incentive plans[52]. Research and Development - The company is leveraging its full-stack R&D capabilities, which include core algorithms, hardware design, and verification, to strengthen its competitive advantage in the automotive intelligence sector[17]. - The company will focus on the research and innovation of end-to-end and large model technologies to enhance technical capabilities and provide safer driving experiences[21]. - The company has developed a modular algorithm architecture suitable for different computing platforms, covering intelligent driving scenarios from L2 to L4[14]. - The integration of intelligent driving and intelligent cockpit technologies aims to optimize human-machine interaction and enhance driving safety[16]. Market and Business Strategy - The intelligent driving industry is rapidly expanding in China, driven by favorable government policies and increased demand for technological innovation[5]. - The company aims to create a comprehensive solution portfolio to meet diverse customer needs and contribute to the automotive intelligence ecosystem[6]. - The company is actively expanding overseas business, with solutions selected by multiple OEMs for export to regions including the EU, Australia, and Singapore[23]. - The company plans to deepen the integration of driving and cabin functions, enhancing the driving experience through the iPilot series[24]. - The company will explore diversified business models, focusing on specific scenarios such as airports and mining, to provide automated transportation solutions[25]. - The company emphasizes continuous technical innovation and optimization of solutions to adapt to complex traffic scenarios[26]. Financial Health and Stability - The company has not experienced significant adverse changes in financial or trading conditions since December 31, 2024, indicating stable financial health[26]. - The current ratio decreased from 3.49 to 3.14, primarily due to increased operating liabilities and interest-bearing bank loans[44]. - The debt-to-asset ratio declined from 3.25 to 3.14, influenced by increased cash and trade payables[45]. - The net cash outflow from operating activities for 2024 was RMB 215.8 million, a decrease from RMB 276.3 million in 2023[41]. Corporate Governance and Compliance - The company is committed to high standards of corporate governance, which is crucial for its development and protecting shareholder interests[95]. - The company has adopted standard codes to regulate the trading behavior of its directors and employees with insider information since its listing[98]. - The board of directors has approved comprehensive risk management policies to mitigate various financial risks, including market and credit risks[50]. Listing and Shareholder Information - The company successfully listed on the Hong Kong Stock Exchange on December 27, 2024[58]. - The H-shares of the company are listed on the Hong Kong Stock Exchange under stock code 2431[106]. - The company decided not to declare a final dividend for the year ended December 31, 2024, reflecting a conservative approach to cash management[91].