Core Viewpoint - The implementation of several important national standards related to artificial intelligence, cybersecurity, smart home appliances, electric bicycles, and furniture will support the healthy development of emerging industries, promote energy conservation and emission reduction, create a favorable consumer environment, and ensure the safety of people's lives and property [1] Group 1: Artificial Intelligence and Cybersecurity Standards - The mandatory national standard "Methods for Identifying AI-Generated Synthetic Content" (GB45438—2025) aims to prevent security risks associated with AI-generated content and enhance the safety level of the AI industry [2] - The recommended national standard "Criteria for Network Attacks and Incident Determination" (GB/T37027—2025) provides guidelines for monitoring and analyzing network attacks, contributing to improved cybersecurity [2] Group 2: Electric Bicycle and Kitchen Appliance Standards - The mandatory national standard "Safety Technical Specifications for Electric Bicycles" (GB17761—2024) sets technical requirements for electric bicycles, enhancing product safety and promoting fair competition in the industry [3] - The mandatory national standard "Energy Efficiency Limits and Levels for Kitchen Appliances" (GB21456—2024) establishes energy efficiency levels for kitchen appliances, encouraging advanced products and promoting green consumption [3] - The mandatory national standard "Energy Efficiency Limits and Levels for High Voltage Three-Phase Asynchronous Motors" (GB30254—2024) aims to improve energy-saving technology in motor manufacturing [3] Group 3: Smart Home Appliances and Furniture Standards - The recommended national standard "Voice Interaction Technology for Smart Home Appliances Part 1: General Requirements" (GB/T45354.1—2025) aims to enhance the convenience and safety of voice interaction in smart home appliances [4] - The mandatory national standard "Flame Retardant Performance Safety Technical Specifications for Furniture" (GB17927—2024) sets requirements for the flame retardant performance of soft furniture, improving product quality and market order [5] Group 4: Drug Testing Standards - The mandatory national standard "Threshold Values and Testing for Drug Content in Vehicle Drivers" (GB45248—2025) establishes testing methods for 11 types of drugs, providing technical support for combating drug-related driving offenses [6][7]

Core Viewpoint - Jiangsu Leili plans to establish overseas production bases in Malaysia, Vietnam, and Mexico to enhance its global industrial layout and meet the growing demand in the micro-special motor market [1][2]. Group 1: Investment Projects - The investment in Malaysia amounts to 216 million yuan, focusing on household appliance motors and industrial control motors [1]. - The investment in Vietnam is 139 million yuan, targeting household appliance motors, industrial control motors, and health movement motors [1]. - The investment in Mexico totals 84.94 million yuan, with products including refrigerator injection molding components [1]. - The total external investment for these projects is approximately 440 million yuan [1]. Group 2: Strategic Importance - The investments aim to deepen the company's global presence, enhance product competitiveness, and reduce trade risks while optimizing the supply chain [2]. - The company also plans to invest 500 million yuan in a micro motor and component production base and laboratory in Changzhou [2]. - An additional investment of no less than 150 million yuan is planned for smart sensing lidar and vehicle thermal management micro motors in Jiaxing [2]. Group 3: Business Overview - Jiangsu Leili specializes in the R&D, production, and sales of micro-special motors for household appliances, new energy vehicles, medical instruments, and industrial control [3]. - In the first half of 2025, the company reported revenues of 1.958 billion yuan, a year-on-year increase of 20.71%, and a net profit of 186 million yuan, up 8.45% [3]. - The company has established R&D and manufacturing bases in North America, Europe, and Southeast Asia, enhancing its global operational system [3].

Core Viewpoint - Jiangsu Leili (300660.SZ) aims to enhance its production and delivery capabilities in the automotive micro-special motor sector by investing in a new production base and laboratory in Changzhou Economic Development Zone, with a total investment of approximately 500 million yuan [1] Group 1: Investment and Development - The company plans to invest in a production base and laboratory for automotive micro-motors and components, covering an area of about 45 acres [1] - The new facilities will focus on the research, production, and sales of products such as automotive air conditioning compressor motors, automotive air conditioning actuators, and automotive oil pump motors [1] - The investment is part of the company's strategy to respond promptly to orders from automotive manufacturers and first-tier component manufacturers while strengthening collaborations with automotive manufacturers, component suppliers, and research institutions [1]

Core Viewpoint - Jiangsu Leili (300660.SZ) is enhancing its global strategy by establishing overseas production bases in Malaysia, Vietnam, and Mexico to improve market competitiveness [1] Group 1: Project Overview - The overseas production base project consists of three sub-projects: Malaysia, Vietnam, and Mexico [1] - The Malaysian production base will be implemented by Leili Malaysia Co., with an investment of 215.65 million RMB, focusing on home appliance motors and industrial control motors [1] - The Vietnamese production base will be managed by Vietnam Leili Motor Co., with an investment of 139 million RMB, producing home appliance motors, industrial control motors, and sports health motors [1] - The Mexican production base will be operated by the wholly-owned subsidiary Mexico Aidesi Motor Co., with an investment of 84.9415 million RMB, focusing on refrigerator injection molding components [1] Group 2: Investment Details - The total investment for the overseas projects amounts to 439.6 million RMB, with specific allocations of 215.65 million RMB for Malaysia, 139 million RMB for Vietnam, and 84.9415 million RMB for Mexico [1] - These investments fall within the decision-making authority of the company's board and do not require shareholder approval [1]

Core Viewpoint - Jiangsu Leili (300660.SZ) announced plans to invest in a new project focused on smart sensing lidar and vehicle thermal management micro motors, which aims to enhance its technological leadership and production capacity in the automotive and industrial sectors [1] Investment Project Details - The investment framework agreement was signed with the local government of Jiaxing, with a total planned investment of no less than RMB 150 million, including at least RMB 120 million in fixed asset investment [1] - The project involves the establishment of a smart manufacturing industrial base and the upgrade of related micro motors and component systems for automotive and industrial laser equipment [1] Strategic Implications - Successful implementation of the project is expected to significantly improve the company's production and delivery capabilities, as well as enhance the intelligence level of its products [1] - The initiative aims to broaden the company's product business matrix to align with the trends of intelligent development in the automotive and industrial sectors, positioning the company favorably in future market competition [1] - The project is anticipated to provide abundant market opportunities and collaboration prospects within the industry [1]

Core Viewpoint - Jiangsu Leili (300660.SZ) is enhancing its global strategy by establishing overseas production bases in Malaysia, Vietnam, and Mexico to improve market competitiveness [1] Group 1: Project Overview - The overseas production base project consists of three sub-projects: Malaysia, Vietnam, and Mexico [1] - The investment amounts for each project are as follows: - Malaysia: 215.65 million RMB for home appliance motors and components, and industrial control motors and components [1] - Vietnam: 139 million RMB for home appliance motors and components, industrial control motors and components, and sports health motors and components [1] - Mexico: 84.9415 million RMB for refrigerator injection molding components [1] Group 2: Investment Details - The total external investment for the overseas projects amounts to 439.6 million RMB [1] - The investments will be made by Jiangsu Leili or its wholly-owned subsidiaries, with no need for shareholder approval as it falls within the board's decision-making authority [1]

Group 1 - Jiangsu Leili (SZ 300660) announced the convening of its 11th meeting of the 4th board of directors on September 1, 2025, to review investment agreements related to its subsidiaries [1] - For the first half of 2025, Jiangsu Leili's revenue composition is as follows: 57.12% from home appliance motors and components, 19.34% from automotive parts, 12.97% from industrial control motors and components, 6.26% from medical and sports health motors and components, and 4.3% from other businesses [1] - As of the report date, Jiangsu Leili's market capitalization is 22.8 billion yuan [1]

Core Viewpoint - Jiangsu Leili Electric Co., Ltd. plans to invest in a project for smart perception lidar and vehicle thermal management micro motors, with a total investment of no less than RMB 150 million [1] Group 1: Investment Details - The investment framework agreement was signed between Jiangsu Leili's subsidiary Zhejiang Ruichi Tongli Automotive Electronics Co., Ltd. and the local government of Jiaxing [1] - The total planned investment for the project is at least RMB 150 million, with fixed asset investment not less than RMB 120 million [1]

Core Viewpoint - The company reported a strong revenue growth of 20.71% year-on-year for the first half of 2025, driven by robust performance in various sectors including home appliances and automotive components [1][3]. Financial Performance - For the first half of 2025, the company achieved a revenue of 1.958 billion yuan, with a net profit attributable to shareholders of 186 million yuan, reflecting an increase of 8.45% year-on-year [1]. - In Q2 2025, the company recorded a revenue of 1.050 billion yuan, a year-on-year growth of 16.62%, but the net profit attributable to shareholders decreased by 6.13% [1]. - The gross margin for the first half of 2025 was 27.20%, down by 1.71 percentage points year-on-year, while the net profit margin was 9.51%, a decrease of 1.08 percentage points [2]. Segment Performance - Revenue from home appliances, automotive components, industrial control, and medical and sports health sectors for H1 2025 was 1.119 billion, 379 million, 254 million, and 123 million yuan respectively, with year-on-year growth rates of 5.09%, 63.72%, 34.49%, and 30.91% [1]. - The automotive components segment benefited from accelerated production of laser radar motors and electric air conditioning compressor motor components [1]. Research and Development - The R&D expense ratio for H1 2025 was 4.43%, showing a slight decrease of 0.24 percentage points year-on-year, indicating stable R&D investment [2]. - The company has secured multiple clients for its automotive laser radar motors, including Hesai, BYD, and SUTENG, and is developing laser radar optoelectronic module products [2]. Investment Outlook - The company is positioned as a leading player in the global micro-motor industry, with strong performance and technological capabilities across various sectors [3]. - Revenue projections for 2025-2027 are 4.286 billion, 5.206 billion, and 6.295 billion yuan, with net profits expected to be 370 million, 462 million, and 575 million yuan respectively [3].

Financial Performance - The company's total revenue for the first half of 2025 was 308 million yuan, an increase of 55.4652 million yuan compared to the same period last year, representing a year-on-year growth of 21.94% [1] - The net profit attributable to shareholders was 34.9712 million yuan, an increase of 59.7867 million yuan compared to the same period last year [1] - The company reported a negative net cash flow from operating activities of 19.2401 million yuan [1] Profitability Metrics - The latest gross profit margin was 27.52%, ranking 5th among disclosed peers, with an increase of 4.38 percentage points from the previous quarter and 5.86 percentage points from the same period last year [3] - The return on equity (ROE) was 5.24%, ranking 7th among disclosed peers, with a year-on-year increase of 9.10 percentage points [3] Efficiency Ratios - The diluted earnings per share were 0.15 yuan, an increase of 0.26 yuan compared to the same period last year [4] - The total asset turnover ratio was 0.27 times, an increase of 0.04 times year-on-year, representing a growth of 19.12% [4] - The inventory turnover ratio was 0.77 times, an increase of 0.10 times year-on-year, reflecting a growth of 14.37% [4] Shareholder Structure - The number of shareholders was 13,900, with the top ten shareholders holding 162 million shares, accounting for 69.00% of the total share capital [4] - The largest shareholder, Beijing Gaodi Resource Development Co., Ltd., holds 30.00% of the shares [4]