Core Viewpoint - Wanliyang is transitioning from a gearbox expert to a diversified industrial group, focusing on technology transfer, large-scale manufacturing, and full value chain control to establish a solid foothold in multiple sectors [1] Group 1: Company Growth and Financial Performance - Wanliyang's growth trajectory began in 1996, initially focusing on gear and gearbox components, and later achieving a breakthrough in complete gearbox assembly around 2000 [2] - After going public in 2010, the company maintained annual revenues between 1 billion to 1.5 billion yuan in the commercial vehicle sector [2] - In the first half of 2025, Wanliyang reported revenues of 2.812 billion yuan, a year-on-year increase of 2.69%, and a net profit of 277 million yuan, up 50.24% [2] Group 2: Multi-Track Strategy and Product Development - Wanliyang has established a dual-track structure in the automotive parts sector, covering both automotive transmission and new energy vehicle drive systems [3] - The company's heavy-duty truck transmission series has become a new growth engine, with 22 models in mass production and 28 models undergoing calibration [3] - In the new energy sector, revenue from electric vehicle (EV) reducers grew by 117% year-on-year in the first half of 2025, with expected monthly sales of around 6,000 units in 2024 [3] Group 3: Expansion into Robotics - Wanliyang established a robotics division in May, expanding its strategic landscape to include harmonic reducers, planetary reducers, and brushless motors [4] - The company’s robotics products have superior temperature control capabilities, achieving a temperature rise of 30K, which is significantly better than the industry average of 45K [4] - The robotics joint module products are set to begin delivery for machine verification in November, with mass production capacity expected by February 2026 [4] Group 4: Long-Term Strategic Vision - The robotics business is viewed as a strategic long-term initiative, focusing on establishing core advantages in product performance and quality rather than short-term profits [5] - Wanliyang aims to become a globally competitive industrial group, leveraging its technological foundation and manufacturing capabilities to drive growth across multiple sectors [5]