Core Viewpoint - Zhuhai Zhiditech Co., Ltd. has shown robust performance in the first three quarters of 2025, driven by industry recovery and increased demand for high-end gaming products and PC accessories [2] Group 1: Financial Performance - In the first three quarters of 2025, the company achieved revenue of 1.099 billion yuan, representing a year-on-year increase of 14.29% [2] - The net profit attributable to shareholders reached 77 million yuan, reflecting a year-on-year growth of 13.45% [2] - The growth in performance is attributed to increased orders for bundled products and retail items, alongside enhanced delivery capabilities from the Vietnam factory [2] Group 2: Competitive Advantages - The company's competitive edge lies in three main areas: vertical integration in manufacturing, strong R&D capabilities, and a solid customer base [3] - Vertical integration covers the entire production chain from mold injection to assembly, ensuring product quality and delivery efficiency [3] - The company has developed automated production lines to reduce costs and possesses core technologies such as magnetic axis, supporting its high-end product strategy [3] Group 3: Magnetic Axis Product Market Position - The magnetic axis technology is based on non-contact sensing principles, relying on high-precision Hall sensors and customized driver chips, which are more costly than traditional mechanical axis products [4] - The magnetic axis products are positioned in the high-end market, offering advantages such as adjustable trigger key travel, zero latency, and extended lifespan, aligning well with high-end gaming and professional interaction needs [4] - The company anticipates a positive outlook for market share growth in magnetic axis products due to increasing customer collaboration and expanding application scenarios [4] Group 4: High-End Gaming Product Trends - The global gaming peripheral market is experiencing high demand, with clear trends towards high-end and scenario-based products [5] - The penetration rate of high-performance products like magnetic axis keyboards is rapidly increasing, supported by the rise of AIPC, which broadens the demand for high-end interaction [5] - The company is enhancing product structure by iterating on chips, axis types, and wireless solutions to meet high-end performance premium demands [5] Group 5: Future Growth Path - The company plans to continue focusing on its ODM core business, leveraging production capacity in Zhuhai and Vietnam to support steady growth in high-end gaming products [6] - In the medium to long term, the company aims to optimize profitability through technological innovation and operational efficiency, while sharing business results with all shareholders [6]