Group 1: Revenue Decline and Market Adjustments - The revenue of asynchronous motors in 2024 decreased by 29.8% due to the adjustment in the real estate industry affecting HVAC demand and the structural reduction in demand caused by the efficiency of brushless DC motors [1] - The company has adjusted its production capacity to enhance manufacturing capabilities in other fields [1] Group 2: R&D Investment and Personnel - R&D expenses for 2024 are projected to be 28.8 million, an increase of 17.81% compared to the previous year, representing 5.65% of revenue, up by 1.45% year-on-year [2] - The number of R&D personnel increased to 123, a rise of 2.5% from the previous year, with 44% holding a bachelor's degree or higher [2] Group 3: Market Expansion and Sales Performance - The main downstream markets for the motor business in 2024 include HVAC, information industry, transportation, healthcare, and cold chain logistics [2] - Export revenue increased by 9.87% year-on-year, while domestic sales declined by 20.31% due to the impact of the real estate sector [2] Group 4: Strategic Goals and Future Plans - The company is implementing the "Motor+" strategy to actively expand into high-efficiency technologies, intelligent integration, and new energy sectors [2] - The strategic goal is to achieve a new "growth curve" through a combination of technology, industry, and capital, focusing on quality improvement and enterprise development [2]