Zheng Quan Zhi Xing·2025-04-14 00:06Group 1: Zhongjian Technology - The management emphasizes high-quality and sustainable development, aligning with national strategies and the real economy [1] - Over 90% of overseas sales are from the European region, with limited and controllable impact from U.S. tariff policy adjustments [1] - The "mowing robot" developed by subsidiary Shanghai Gaike has received small batch orders, showcasing its advanced features [1] - A subsidiary in Thailand is set up in 2024, and the construction of the smart manufacturing center is progressing steadily [1] Group 2: Zhongke Lanyun - The product line has expanded to include ten categories, such as Bluetooth headset chips and Bluetooth speaker chips [2] - The non-net profit for 2024 is expected to grow by 40.44% year-on-year, driven by a rich product variety and increased sales volume [2] - In 2025, the company plans to develop audio chips for smart speakers, smartwatches, and R/VR devices, along with launching Wi-Fi and video product lines [2] - Collaborations with ByteDance's Volcano Engine have led to solutions compatible with the Doubao large model [2] Group 3: Kede CNC - The company has minimal exposure to U.S. tariffs as its core technology and components are not sourced from the U.S. [3] - Focus on independent R&D of key components has led to the successful development of five-axis CNC systems and servo drives [3] - Orders are driven by both repurchases of old models and the expansion of new products, with a 13% increase in traditional five-axis vertical machining center orders [3] Group 4: Xujie Electric - In 2024, the company achieved revenue of 17.089 billion yuan and a net profit of 1.117 billion yuan, marking an 11.09% year-on-year increase [4] - The revenue structure has been optimized, with a decline in low-margin new energy and system integration segments, while high-margin DC transmission revenue has grown [4] - The company has secured multiple State Grid DC transmission projects and increased orders in the Southern Grid market [4] - R&D investment reached 880 million yuan, focusing on key technologies like offshore wind power DC transmission systems [4]