Core Viewpoint - The company is deeply engaged in the consumer electronics component sector and is expected to benefit from the AI-driven new cycle of smart device upgrades, with significant revenue growth projected in the coming years [1][4]. Group 1: Financial Performance - In 2024, the company achieved a revenue of 820 million yuan, representing a year-on-year growth of 22%, with a CAGR of 13.0% from 2019 to 2024 [1]. - The net profit attributable to shareholders for 2024 was 110 million yuan, up 3.7% year-on-year, with a CAGR of 5.5% from 2019 to 2024 [1]. - In the first half of 2025, the company reported a revenue of 360 million yuan, a year-on-year increase of 9.4%, but the net profit dropped by 52.4% to 20 million yuan due to increased resource investments [1]. Group 2: Market Position and Client Relationships - The company has established a strong position in the supply chains of major manufacturers such as Foxconn, BOE, and Amphenol, enhancing its brand recognition and market share [2]. - The company is a supplier for major clients like Meta and Amazon, providing functional components and automation equipment, which is expected to increase with the launch of foldable smartphones [2]. Group 3: Product Development and Innovation - The company's cooling products are categorized into three main types: liquid cooling modules for data centers, air cooling modules for data centers, and air cooling modules for consumer electronics [3]. - The company has secured sample qualification from major North American clients and is collaborating with leading domestic manufacturers in the cooling sector, indicating a strong potential for market expansion [3]. Group 4: Future Projections - The company is projected to achieve revenues of 1.065 billion yuan, 1.391 billion yuan, and 1.746 billion yuan from 2025 to 2027, with respective year-on-year growth rates of 30.0%, 30.6%, and 25.5% [4]. - The net profit attributable to shareholders is expected to reach 145 million yuan, 253 million yuan, and 355 million yuan during the same period, with growth rates of 32.56%, 73.74%, and 40.32% respectively [4].