Core Viewpoint - The company specializes in the research, production, and sales of thermistors, temperature sensors, oxygen sensors, and pressure sensors, possessing a leading intelligent sensor R&D platform and mastering key core technologies across the entire industry chain from materials to chips to sensors [1] Group 1: Company Overview - The company's main products include pressure sensors, oxygen sensors, temperature sensors, PTC thermistors, NTC thermistors, and torque sensors, which are widely used in various fields such as automotive, robotics, smart home, photovoltaic, energy storage, charging piles, IoT, consumer electronics, aerospace, and industrial control [1] - The revenue composition indicates that thermistors and temperature sensors, along with pressure sensors, are the primary sources of income, each accounting for nearly 50% in 2024 [1] - The company has experienced steady revenue growth with a year-on-year growth rate of approximately 20% from 2020 to 2024, while maintaining a gross margin of around 30% from 2021 to 2023 [1] Group 2: Market Potential - The global market for thermistors is expected to grow steadily, with NTC and PTC market sizes projected to reach 5.1 billion and 477 million USD by 2030, respectively [2] - The temperature sensor market is anticipated to reach 8.646 billion USD by 2030, with significant contributions from home appliances, consumer electronics, and industrial sectors [2] - The company has expanded its application scenarios from home appliances to automotive, photovoltaic, energy storage, and medical fields, indicating promising future development [2] Group 3: Product Development - The company is rapidly developing pressure sensors, with the global market for mid-high pressure sealed pressure sensors expected to reach 58.9 million USD and low-pressure sealed pressure sensors projected to reach 15.2 million USD by 2032 [3] - The company offers a range of pressure sensor products, including ceramic capacitive, MEMS, and glass micro-melt pressure sensors, covering low, medium, and high-pressure ranges, with some products already in mass delivery in the automotive sector [3] - The company is also developing force sensors based on MEMS technology and glass micro-melt processes, which are expected to see rapid growth as application scenarios industrialize [3] Group 4: Oxygen Sensors - Initially used in home appliances, the company's oxygen sensors have successfully expanded into automotive and medical industries, with the global oxygen sensor market projected to reach 7.417 billion USD by 2032 [4] - Major players in the oxygen sensor market include DENSO, Niterra, Bosch, Drager, and Walker Products, with the top five manufacturers holding nearly 70% of the market share [4] - The company is set to become the first domestic sensor company to secure a project in the automotive front-mounted market for oxygen sensors by 2024 [4] Group 5: Financial Forecast and Valuation - Revenue projections for the company from 2025 to 2027 are 1.17 billion, 1.44 billion, and 1.76 billion CNY, with growth rates of 24.5%, 23.1%, and 22.2% respectively [5] - Net profit forecasts for the same period are 112 million, 143 million, and 180 million CNY, with growth rates of 36.1%, 27.0%, and 26.1% respectively [5] - The company is expected to benefit from its mastery of the entire industry chain, the ongoing trend towards domestic production of sensors, and the rapid development of humanoid robots, leading to a positive outlook for future growth [5]