Company Overview - The company is a high-tech enterprise specializing in the R&D, manufacturing, and sales of relays and transformers, ranking among the top in China's electronic components industry [2] - The product range includes six major categories of relays and transformers, with plans to strengthen core areas while diversifying based on market demand [2] Financial Guidance for 2025 - The company aims for high-quality growth driven by technology, global expansion, and lean operations, focusing on increasing market share in core and emerging business areas [3] - Specific financial targets will be optimized based on market conditions and reported regularly [3] Market Position and Competitiveness - The global electromagnetic relay market is projected to grow at an average rate of 8.6% from 2023 to 2028, with China's market expected to reach approximately 49.16 billion yuan by 2028 [4] - The company plans to enhance profitability through smart manufacturing and a focus on high-margin products [4] New Energy Sector Strategy - The company has established a capacity management system for the new energy sector, ensuring significant production capacity for high-voltage direct current relays and photovoltaic relays [4] - Future capacity optimization will focus on improving existing production efficiency and expanding to meet overseas demand [4] Business Unit Revenue Planning - The company aims for organic growth across its business units by reinforcing core operations and exploring new high-growth areas such as new energy and smart grids [5] - The strategy includes enhancing product lines and expanding into new markets while maintaining a focus on technology and operational efficiency [5] Product Development and Market Expansion - The company is exploring new product lines with an emphasis on lightweight, energy-efficient, and intelligent designs [6] - There is a commitment to adapting products for emerging fields such as low-altitude economy and robotics, leveraging existing technological capabilities [6]

Core Viewpoint - The company is preparing for its 2024 annual shareholders' meeting, outlining the agenda and procedures for voting and participation, while emphasizing the importance of investor rights and corporate governance [1][2][3]. Group 1: Meeting Procedures - The meeting is scheduled for June 9, 2025, at 13:30 in Wuxi, Jiangsu Province, with specific requirements for attendance and voting methods [2][3]. - Shareholders must register and provide necessary documentation for participation, and questions must be submitted in advance [1][2]. - Voting will be conducted through either on-site or online methods, with specific rules regarding the validity of votes [2][3]. Group 2: Financial Performance - In 2024, the company reported a revenue of 504.20 million yuan, a decrease of 38.70% compared to the previous year [6][19]. - The net profit attributable to shareholders was 22.91 million yuan, down 88.24% year-on-year [6][19]. - Total assets increased by 63.62% to 1.71 billion yuan, while net assets attributable to shareholders rose by 116.88% to 1.57 billion yuan [6][19]. Group 3: Business Strategy and Future Plans - The company aims to enhance its product innovation strategy in response to structural changes in the industry, focusing on developing new products and services [5][9]. - The strategic direction for 2025 includes a commitment to innovation, quality, global expansion, and sustainable development [9][10]. - The company plans to increase R&D investment and optimize product structure to expand both domestic and international markets [9][10]. Group 4: Governance and Compliance - The board of directors has been active in ensuring compliance with legal and regulatory requirements, maintaining transparency and accountability [7][11]. - The company emphasizes the importance of investor relations and has implemented measures to improve communication and engagement with shareholders [7][11]. - Independent directors have fulfilled their responsibilities diligently, with no objections raised during board meetings [9][11].