Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company has recently announced significant progress in its electric tools business, including a forecasted net profit of 1.253 to 1.373 billion yuan for the first half of 2025, representing a year-on-year growth of 5% to 15% [2][6]. - The company has secured a procurement confirmation for electric tools with an expected annual order value of no less than 30 million USD [2][6]. - The acquisition of shares in Micro-Nano Technology enhances the company's capabilities in control chips and interactive chip solutions [2][6]. - The company has made a strong entry into the European electric tools market, winning a bid from a major European retailer with an expected annual procurement amount of no less than 15 million USD [2][6]. Summary by Sections Recent Developments - The company has seen an increase in gross profit margin due to the growth in cross-border e-commerce sales and new product launches, particularly in electric tools [2][6]. - The procurement confirmation for electric tools is a significant milestone, marking the company's first order for production and delivery outside of China, specifically for the U.S. market [13]. - The acquisition of Micro-Nano Technology shares for a total consideration of 50.79 million yuan is aimed at strengthening the company's chip design capabilities for smart tools [13]. Market Expansion - The company has successfully entered the European market for electric tools, marking a significant expansion since the development of its electric tools product line began in 2021 [13]. - The ongoing acquisition of electric tool orders indicates growing recognition of the company's technology and overseas production capabilities, suggesting an upcoming surge in orders [13]. Financial Projections - The company is projected to achieve net profits of 2.73 billion, 3.365 billion, and 4.07 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-earnings ratios of 14, 11, and 9 [13].