Core Viewpoint - The company is building a 5 billion yuan wind turbine gearbox smart factory in Yinchuan, which will be the only large-scale wind turbine gearbox R&D and production base in Western China, addressing a critical gap in the wind power industry chain in the northwest region [1][2]. Group 1: Company Development Stages - The company has undergone three significant phases since its establishment in 2003: the entrepreneurial phase (2003-2006), focusing on industrial gearboxes; the wind power expansion phase (2007-2016), where it developed specialized wind turbine gearboxes; and the transformation and diversification phase (2017-present), marked by its listing on the New Third Board and the development of high-capacity offshore wind turbine gearboxes [1][2][3]. Group 2: Technological Innovation and Capacity Expansion - The company emphasizes technological innovation as its core competitive advantage, with R&D expenses increasing from 42.56 million yuan in 2023 to 51.35 million yuan in 2024, a growth of 20.65% [2][3]. - As of June 30, 2025, the company holds 204 valid patents, including 31 invention patents, indicating a strong focus on R&D and innovation [3]. - The smart factory is expected to achieve an annual production capacity of 2,000 wind turbine gearboxes upon full operation, with a cumulative investment of 1.231 billion yuan as of August 2023 [3][4]. Group 3: Market Strategy and Expansion - The company plans to leverage the anticipated global wind power installation capacity of 981 GW from 2025 to 2030 to drive demand for wind turbine gearboxes [4][5]. - A dual-path strategy is being implemented for market expansion, focusing on domestic partnerships with leading companies like Goldwind Technology and international breakthroughs in regions such as Europe and Southeast Asia [5][6]. - The company is actively participating in the "Thousand Villages and Ten Thousand Villages Wind Action" project, with a total installed capacity of 65 MW, which will further enhance its position in the wind power industry [6][7].