Core Viewpoint - The company held an online performance briefing on September 19, 2025, discussing various business highlights and future strategies, emphasizing its confidence in growth despite recent challenges [1] Group 1: Business Performance - The company reported that over 90% of its revenue in the first half of 2025 came from overseas markets, with significant growth in South America but a decline in Europe due to regional economic fluctuations [1] - The company has established partnerships with several major domestic two-wheeler manufacturers, focusing on IoT smart terminals that comply with new national standards [1] Group 2: New Products and Innovations - The company is driving product line upgrades and expansions through technological innovation, particularly in AI and edge computing [1] - Recent advancements in low-power technology have improved the operational time of several products by 20% to 50% through optimized energy management [1] Group 3: Market Strategy and Management - The company is committed to enhancing its core competitiveness through potential mergers and acquisitions that align with its existing business and technology [1] - Management expressed confidence in the company's future, attributing recent stock reductions by executives and major shareholders to personal financial needs rather than a lack of faith in the company's prospects [1] Group 4: Challenges and Responses - The company faced operational disruptions in the first half of 2025 due to trade tensions, new product line upgrades, and fluctuations in customer demand, but is implementing a "Four New Strategy" to stabilize and grow its business [1] - The company is actively communicating key value information to the market to bolster investor confidence amid stock price fluctuations influenced by macroeconomic factors and industry competition [1]

Core Viewpoint - The company received a warning letter from the Shenzhen Securities Regulatory Bureau regarding its shareholder, Xu Yusuo, for failing to halt trading when his shareholding reached a multiple of 5% [1] Group 1 - The warning was issued on September 19, 2025, after an investigation revealed that Xu Yusuo, who holds over 5% of the company's shares, did not comply with trading regulations on August 6, 2025 [1] - The combined shareholding of Xu Yusuo and his concerted parties reached a multiple of 5% during the mentioned period [1] - The regulatory measure is directed at the company's controlling shareholder and will not affect the company's normal business operations [1]

Group 1: Company Performance and Market Presence - The company achieved over 90% of its revenue from overseas markets in the first half of 2025 [2] - The South American market showed business growth year-on-year, while the European market experienced a decline [3] - As of August 29, 2025, the total number of shareholders was 41,697 [8] Group 2: Product Development and Innovation - The company is focusing on technology innovation in areas such as AI, edge computing, satellite communication, and smart driving [4] - New products, including IoT smart terminals for electric bicycles, have been developed to comply with new regulations [4] - Low-power technology upgrades have improved product battery life by 20% to 50% [8] Group 3: Strategic Initiatives and Market Expansion - The company is actively exploring mergers and acquisitions that align with its core business and technology [5] - A "Four New Strategy" is being implemented to enhance business recovery through new business layouts, product optimization, and customer expansion [8] - The company is committed to maintaining investor confidence through transparent communication and strategic planning [9] Group 4: Management and Shareholder Actions - The management remains confident in the company's future despite some executives and major shareholders reducing their stakes for personal financial needs [6] - The company emphasizes that stock price fluctuations are influenced by macroeconomic factors and industry competition [9]

Group 1 - The establishment of Foshan Xutai Gulin Plastic Products Co., Ltd. has been registered with a capital of 1 million RMB [1] - The company's business scope includes manufacturing and sales of plastic products, research and development of hardware products, and sales of integrated circuit chips and products [1] - The company is also involved in software development and sales, electronic product sales, and domestic trade agency services [1] Group 2 - Additional services offered by the company include IoT technology research and development, information system operation and maintenance services, and technical consulting services [1] - The company is authorized to conduct import and export activities, as well as technology import and export [1] - The business activities are conducted independently based on the business license, except for projects that require approval by law [1]

Group 1: Company Overview - The company specializes in the research, production, and sales of IoT intelligent products, recognized as a high-tech enterprise and a "specialized and innovative" small giant [1] - The mission is to empower everything with intelligence and create a better future, focusing on customer success, innovation, pragmatism, and quality [1] - In 2024, the company achieved a revenue of CNY 1.402 billion, a year-on-year increase of 24.85%, and a net profit of CNY 176 million, an increase of 0.81% [1] Group 2: Financial Performance - In the first half of 2025, the company reported a revenue of CNY 805 million, a year-on-year increase of 20.17%, and a net profit of CNY 108 million, an increase of 19.07% [2] - Revenue breakdown for the first half of 2025: - Intelligent vehicle terminals: CNY 312 million - Smart travel components: CNY 229 million - Other smart hardware: CNY 187 million [2] Group 3: Market Trends and Growth Opportunities - The domestic market for intelligent vehicle terminals is undergoing a product upgrade, with traditional devices being replaced by advanced models featuring video recording and driver assistance [2] - The company has entered the qualified supplier list for an overseas automotive brand, aiming to expand its presence in the overseas vehicle market [2] - In the smart sleep sector, the company plans to diversify its product offerings based on overseas customer demands [3] - The implementation of the "Electric Bicycle Safety Technical Specification" is expected to accelerate the smartization of electric bicycles, presenting further growth opportunities [3] Group 4: Production Capacity and Challenges - The company has established a full-link production capability from modules to terminal solutions, allowing flexible adjustment of production capacity across product lines [3] - Current production capacity is generally sufficient for daily needs, and upcoming investment projects are expected to alleviate any capacity bottlenecks due to revenue growth [4]

Group 1 - The company, Jinka Intelligent, announced the release of 24.53 million shares from pledge by its controlling shareholder, Zhejiang Jinka High-Tech Engineering Co., Ltd. [1] - As of the announcement date, the total pledged shares by Jinka Engineering and its concerted parties amounted to approximately 19.31 million shares, representing 12.45% of the shares held by them [1] - For the first half of 2025, Jinka Intelligent's revenue composition indicates that smart utility IoT solutions accounted for 94.45% of total revenue, while other businesses contributed 5.55% [1] Group 2 - The market capitalization of Jinka Intelligent is reported to be 5.3 billion yuan [2]

Group 1 - The index experienced a rise of 1.1% at midday closing, with a rolling price-to-sales ratio of 63.3 times, reflecting a 99.7% increase since its inception [4] - Another index showed a rise of 0.9% at midday closing, with a rolling price-to-sales ratio of 32.5 times, indicating a 46.7% increase since its inception [5]

Company Overview - Huihan Microelectronics Co., Ltd. is located in Fuzhou, Fujian Province, and was established on July 11, 2008. The company was listed on September 11, 2024. Its main business involves the research, development, production, and sales of vehicle networking smart terminals and IoT smart modules, along with providing software and technical services [1]. Business Composition - The revenue composition of Huihan Microelectronics is as follows: 74.71% from vehicle networking smart terminals, 18.17% from IoT smart modules, 7.00% from software and services, and 0.12% from other sources [1]. Stock Performance - On September 19, Huihan shares fell by 5.19%, trading at 141.15 yuan per share, with a transaction volume of 405 million yuan and a turnover rate of 8.67%. The total market capitalization is 14.753 billion yuan [1]. Fund Holdings - Dongwu Fund has one fund heavily invested in Huihan shares. The Dongwu Double Triangle Stock A (005209) increased its holdings by 507 shares in the second quarter, bringing the total to 4,507 shares, which accounts for 3.15% of the fund's net value, ranking it as the tenth largest holding. The estimated floating loss today is approximately 34,800 yuan [2]. Fund Performance - The Dongwu Double Triangle Stock A (005209) was established on December 5, 2017, with a latest scale of 5.8348 million. Year-to-date returns are 56.84%, ranking 234 out of 4,222 in its category. Over the past year, returns are 60.5%, ranking 1,582 out of 3,805. Since inception, the fund has experienced a loss of 28.37% [2]. Fund Management - The fund manager of Dongwu Double Triangle Stock A (005209) is Chen Weibin, who has been in the position for 200 days. The total asset size of the fund is 13.9964 million yuan, with the best return during his tenure being 40.93% and the worst return being 40.58% [3].

Summary of Zhongke Chuangda Conference Call Company Overview - Zhongke Chuangda is focused on transforming automotive electronics architecture through an integrated AI framework, enhancing local data processing capabilities with AI Box, and improving human-machine interaction with its AI OS [2][3]. Key Industry Insights - The automotive industry is shifting from software-defined vehicles to AI-defined vehicles, driven by the demand for AI applications and integrated AI solutions [3][4]. - The AI Box platform, developed in collaboration with Geely and NVIDIA, supports real-time operation of a 7 billion parameter model, significantly enhancing AI capabilities in vehicles [2][4]. Core Product Features - **AI Box**: - Utilizes NVIDIA Drive AGX chip, providing 200 TOPS AI computing power and over 200 GB/s bandwidth, enabling the operation of 7 billion parameter models on the vehicle side [2][6]. - Facilitates seamless integration with in-vehicle devices through standardized open protocols, allowing for rapid support of multimodal models and multi-cloud combinations [6]. - **Dish OS**: - Transitioned to an AI-native architecture, enabling dynamic allocation of computing power and flexible model scheduling, which supports deeply integrated AI applications and seamless cloud service connectivity [5][9]. - Designed to reconstruct the interaction and service logic of smart cockpits without altering existing automotive electronic architectures [5]. Strategic Initiatives - Zhongke Chuangda employs a dual-engine strategy centered on Dish OS and AI Box, supporting comprehensive scene expansion and technological innovation [7]. - The company is also focusing on the development of IoT and mobile business sectors, benefiting from the rapid recovery trends in these areas due to the influence of edge AI [7][10]. Future Outlook - The company is optimistic about its future, particularly in domestic and international markets, leveraging its robust technology platform and ecosystem [7][10]. - Plans to expand its presence in 16 countries and regions globally, emphasizing the integration of AI and IoT in its offerings [10][12]. Emerging Technologies - The company is venturing into the robotics sector with Autonomous Mobile Robots (AMR) aimed at factory and warehouse logistics, utilizing multimodal perception technology for precise positioning and complex task handling [8]. - The AIoT platform is rapidly evolving, driven by the integration of AI technologies and the development of new products like AI glasses and AI PCs, which are closely tied to edge computing [11][12][14]. Product Development - The mobile business remains crucial, with ongoing innovations in AI smartphones that can be leveraged across various sectors, including automotive and IoT [17]. - The Turbo X AI glasses, featuring a dual-chip architecture, have significantly reduced power consumption and improved performance, setting a foundation for future developments in AI eyewear [18]. Conclusion - Zhongke Chuangda is positioned at the forefront of the automotive and IoT industries, with a strong focus on AI integration and innovative product development, indicating a promising trajectory for growth and market expansion [7][10].

Core Viewpoint - The company emphasizes the rapid development of various technologies that will deeply empower the smart IoT sector, aiming to provide smarter and more efficient solutions for customers, thereby promoting high-quality development in the IoT business [2] Group 1 - The company is committed to embracing new technologies with an open attitude [2] - The focus is on enhancing the smart IoT business through technological advancements [2] - The company aims to deliver high-quality solutions to its clients [2]