Core Highlights - The robot industry is experiencing a significant boom, with broker estimates suggesting a market space exceeding 300 billion. The company has a solid technical reserve in screw rod processing and is actively embracing industry trends, including indirect entry into the Tesla supply chain, which is expected to generate substantial revenue in the future [1] - The company's main business focuses on bearing sleeves, and since its listing, it has been expanding production capacity through fundraising. After completing capacity ramp-up and depreciation, there are expectations for improved profitability in the future [1] - The company has independently developed aluminum oxide insulated bearing sleeves, which can reduce costs by 40% compared to high-end ceramic sleeves. The demand for insulated products is expected to be broad under high-voltage electrical platforms, and the company plans to strengthen its position in this niche market [1] Conclusion Strategy - In terms of performance forecasts, the company is expected to grow due to significant capacity expansion and new production lines. However, the robot screw rod business has not yet shown financial validation, and there is a risk of performance realization due to a single customer base [2] - Regarding valuation, the market has significantly increased expectations, with broker predictions estimating net profits of around 120-130 million for January 2026, corresponding to a valuation of approximately 83 times earnings. For 2027, a projected net profit of around 220 million corresponds to a valuation of about 47 times earnings, indicating that the current stock price is overvalued [2] Tracking Indicators - Key indicators to monitor include robot shipment volumes, progress on major contract signings, developments related to the Thailand factory, and revenue from insulated bearing sleeves [3]