Core Viewpoint - Changxin Technology is entering the computing power sector by establishing a joint venture with Fujian Huarui Information Technology Co., Ltd., Suzhou Feisa Venture Capital Partnership, and Jiang Jianhua, aiming to diversify its business from a single display component supplier to a dual-driven model of "display + computing power" [1][2]. Group 1: Joint Venture and Business Strategy - The joint venture, Wuhu Changxin Huarui Intelligent Computing Technology Co., Ltd., has a registered capital of 100 million yuan, with Changxin Technology contributing 41 million yuan, holding a 41% stake as the largest shareholder [2]. - The joint venture will focus on three main business areas: procurement and sales of computing power-related equipment and software, collaboration with various sectors to provide intelligent computing systems and leasing, and construction and operation of intelligent computing centers with government or third parties [2]. - The establishment of the joint venture is expected to open new revenue channels and enhance existing business capabilities, contributing to a second growth curve for the company [2]. Group 2: Financial Performance - In 2024, Changxin Technology reported a total revenue of 11.058 billion yuan, a year-on-year increase of 24.4%, and a net profit of 357 million yuan, up 47.7% [3]. - For the first quarter of 2024, the company achieved revenue of 2.793 billion yuan and a net profit of 79.7 million yuan, representing year-on-year growth of 7.31% and 61.09%, respectively [3]. - The company's domestic revenue reached 6.017 billion yuan, a 10.25% increase, while overseas revenue was 5.041 billion yuan, with a significant growth of 46.92%, indicating successful international market expansion [3]. Group 3: International Expansion - To support its overseas business development, Changxin Technology plans to invest up to 27 million USD in establishing a wholly-owned subsidiary and production base in Vietnam, marking the first step in its international industrial strategy [4].