Core Insights - The company focuses on a "two intelligence and one innovation" strategy to enhance market share in the competitive landscape of the low-voltage electrical industry [1][2] - The Haiyan Super Factory is currently operational, featuring over 140 automated and semi-automated production lines, with a capacity of 376,000 units per shift [1] Group 1: Company Strategy - The company aims to deepen its market penetration by developing key clients and enhancing its product competitiveness through innovative R&D [1] - The transition from a component supplier to a comprehensive solution provider is emphasized, focusing on integrated hardware and software capabilities [1] Group 2: Production Capacity - The Haiyan factory has received the "2023 Zhejiang Province Future Factory" certification, indicating its advanced manufacturing capabilities [1] - The factory's core processes include electroplating, welding, and electronics, which contribute to cost optimization and improved product reliability [1]

Core Viewpoint - In 2024, the company reported a revenue of 4.238 billion yuan, a year-on-year decrease of 7.57%, and a net profit attributable to shareholders of 312 million yuan, indicating challenges in the market environment [1] Group 1: Financial Performance - The company achieved a revenue of 4.238 billion yuan in 2024, reflecting a decline of 7.57% compared to the previous year [1] - The net profit attributable to shareholders was reported at 312 million yuan for the year [1] Group 2: Strategic Initiatives - The company is focusing on the "Two Intelligence and One New" strategy, enhancing product upgrades in smart and digital solutions tailored for various sectors including new energy and intelligent buildings [1] - In the low-voltage component sector, the company executed over 160 product development and enhancement plans, completing 84 product developments, including the launch of 19 new products [1] Group 3: Research and Development - The company emphasizes technological accumulation and R&D capabilities, applying the IPD2.0 transformation and deepening the end-to-end process-oriented product line model [2] - In 2024, the company applied for 456 domestic and international patents, including 127 invention patents, and obtained 356 new authorizations [2] - As of the end of 2024, the company has cumulatively applied for 3,103 patents, including 922 invention patents, and has received 2,171 authorizations [2] Group 4: Product and Market Position - The company is a leading player in the high-end market of the domestic low-voltage electrical industry, involved in the R&D, production, and sales of terminal electrical appliances, distribution electrical appliances, control electrical appliances, and smart home products [2] - The low-voltage electrical products produced by the company are widely used across various sectors of the national economy, including new energy, intelligent computing centers, and electric vehicles [2]