Revenue Structure - The company's total revenue for 2024 is projected to be 1.402 billion CNY, with the following revenue breakdown: - Smart appliance controllers: 761 million CNY (54.31%), up 18.76% year-on-year [2] - Power tools: 241 million CNY (17.16%), up 70.09% year-on-year [2] - Robotics and innovative smart products: 246 million CNY (17.54%), down 23.59% year-on-year [3] - Automotive electronic controllers: 73 million CNY (5.17%), down 2.02% year-on-year [3] - New energy products: 55 million CNY (3.95%), up 140.78% year-on-year [3] International Operations - The revenue from the Vietnam factory for 2024 is expected to reach 320 million CNY, a growth of 117.26% year-on-year, covering multiple sectors including power tools and smart appliances [3] - The company plans to expand production capacity in Vietnam and establish a factory in Indonesia to mitigate supply chain risks and optimize cost structure [3] Business Development - The company is exploring humanoid robot technology but commercial implementation is still in the future [3] - The growth strategy for power tools focuses on deepening relationships with major global clients and expanding product lines, leveraging advanced technologies [3] Financial Performance - The gross margin for Q1 2025 has decreased to 23.57%, attributed to changes in product mix and increased fixed costs due to expansion efforts in Shenzhen and Vietnam [4] Strategic Initiatives - The company is considering mergers and acquisitions in emerging technology sectors, supported by a strong cash position and high shareholder ownership [4] - There are ongoing stock incentive plans aimed at retaining talent and enhancing employee engagement, with two plans already implemented since 2021 [4] - The company has no current plans to list on the Hong Kong Stock Exchange, focusing instead on improving core operational capabilities and sustainable growth [4]