Core Viewpoint - The article emphasizes the high-quality materials and craftsmanship of the Niu M1 electric scooter's original controller, highlighting its superior design and components compared to cheaper alternatives available in the market [76]. Group 1: Controller Design and Materials - The controller features a robust black ABS outer shell and an aluminum alloy base with heat dissipation fins, indicating a strong build quality [3][5]. - The assembly of the controller is user-friendly, allowing for easy disassembly, which is beneficial for users with modification skills [7]. - The controller is designed with waterproof features, including silicone seals and a well-structured layout that enhances durability [14][16]. Group 2: Component Analysis - The controller's circuit board layout is symmetrical and well-organized, with significant components like power bus connections and large capacitors placed for optimal performance [19]. - It utilizes high-quality MOSFETs (STP15810) rated at 100V and 110A, which are more efficient than lower-cost alternatives that manufacturers might use to cut costs [35]. - The main control chip is an STM32F051C8T6 from ST, indicating a focus on reliable and efficient processing capabilities [51]. Group 3: Market Comparison and Consumer Insights - The article suggests that the original controller's quality is significantly higher than that of many aftermarket replacements, which often compromise on materials and performance [70]. - Consumers may be misled by repair shops into replacing high-quality components with inferior ones, highlighting a gap in consumer awareness regarding product quality [70]. - The author expresses curiosity about the current quality of controllers in new Niu electric scooters, suggesting that competition in the industry may have led to changes in manufacturing standards [70].

Core Viewpoint - The company has achieved significant growth in revenue and net profit during the reporting period, driven by the recovery in downstream industries and continuous innovation in product development and manufacturing capabilities [11][12][13]. Company Overview - The company operates in three main business segments: smart controllers, new energy, and smart terminal products, focusing on chip applications and smart control technology [4][5]. - The smart controller segment includes products for electric tools, home appliances, automotive electronics, and robotics, while the new energy segment covers lithium battery packs and energy storage inverters [4][5]. Financial Performance - In 2024, the company reported a revenue of 1,622,839,167.08 yuan, representing a year-on-year increase of 21.67% [11]. - The net profit attributable to shareholders was 51,706,423.16 yuan, up 29.20% from the previous year, with a non-recurring net profit of 45,756,022.60 yuan, an increase of 28.47% [11]. Business Drivers - The growth in revenue is attributed to the recovery of the downstream consumer market, particularly in the electric tools and home appliance sectors [11][12]. - The company has increased its R&D investment, with R&D expenses totaling 92.21 million yuan, accounting for 5.68% of revenue, leading to a 11.92% increase in patent numbers [12]. - Manufacturing capabilities have improved significantly, with the establishment of a new industrial park in Vietnam, enhancing production capacity for Southeast Asian markets [12]. Operational Model - The company follows a flexible production model based on customer demand, ensuring efficient and customized production processes [8]. - Sales are conducted through direct sales channels, with a focus on both domestic and international markets [9]. Future Outlook - The company aims to continue expanding into new business areas while consolidating its traditional business advantages, setting a solid foundation for sustainable growth [13].