Core Viewpoint - Liyuanheng, a leading high-end new energy equipment manufacturer, emphasizes its commitment to innovation and quality in the solid-state battery sector, aiming to adapt to market changes and enhance operational efficiency [1][3][11]. Group 1: Company Overview - Liyuanheng was founded in 2002 with a small team and has grown to become a prominent player in the high-end new energy equipment manufacturing industry, listed on the STAR Market in 2021 [1]. - The company specializes in providing intelligent factory solutions for various sectors, including new energy, smart logistics, ICT, AI computing power, and automotive components [1]. Group 2: Financial Performance - In 2024, Liyuanheng achieved a revenue of 2.482 billion yuan, with 2.025 billion yuan coming from lithium battery manufacturing equipment, representing a significant portion of the company's total revenue [3]. - The company has experienced a decline in sales and management expenses, with a 26% reduction in operating costs and a 41% decrease in management expenses year-on-year [3][4]. Group 3: Strategic Focus - Liyuanheng has adopted a "practice internal skills strategy" since the second half of 2023, focusing on cost management across various dimensions, including R&D, manufacturing, and after-sales service [4]. - The company maintains a large customer strategy, developing products in collaboration with industry leaders and focusing on high-end capacity, which remains insufficient despite an overall industry slowdown [3]. Group 4: Solid-State Battery Development - Liyuanheng has invested over 12% of its revenue in R&D, enhancing its market competitiveness, particularly in the solid-state battery sector, which is gaining traction in the industry [7]. - The company is one of the early players in the domestic market to offer complete solid-state battery production line solutions, covering key equipment and processes across various solid-state battery technologies [7][8]. Group 5: Global Expansion - Since 2011, Liyuanheng has expanded its operations overseas, establishing subsidiaries and R&D centers in Europe, North America, and the Asia-Pacific region [11]. - The company's global strategy aims to enhance its R&D capabilities, provide localized services during domestic market adjustments, and support long-term growth through a global network [11].