Core Viewpoint - The company, Zhenyu Technology, plans to raise up to 1.88 billion yuan through a convertible bond issuance to fund expansion projects in lithium battery precision components, humanoid robot modules, and motor core production, as well as to supplement working capital [1] Group 1: Investment Projects - Zhenyu Technology's subsidiary, Suzhou Fanster, signed a strategic cooperation agreement to invest no less than 1 billion yuan in projects related to core components for new energy vehicle drives, low-altitude aircraft drives, and humanoid robot drives [1] - Another subsidiary, Ningbo Martin, plans to invest 1 billion yuan in the industrialization of humanoid robot precision modules and components [1] - The investment amounts mentioned are estimates and may differ from actual execution, indicating potential uncertainties in future market conditions [1] Group 2: Industry Trends and Risks - The low-altitude aircraft and humanoid robot industries align with future development trends, but they will experience a lengthy growth cycle requiring significant initial investments in technology, processes, equipment, and team building [2] - The company reported that its revenue for the first three quarters of 2025 was approximately 6.6 billion yuan, with a small proportion coming from robot-related businesses, indicating that the revenue structure may not change significantly in the short term [2] Group 3: Company Performance - For the first three quarters of 2025, Zhenyu Technology achieved revenue of 6.593 billion yuan, a year-on-year increase of about 31.47%, and a net profit of 412 million yuan, up approximately 138.93% [4] - The lithium battery structural components business saw revenue growth exceeding 45% year-on-year, with a notable recovery in gross profit [4] - The company expects continued rapid growth in the lithium battery structural components business due to strong demand from downstream energy storage batteries [4]