Summary of Yitian Intelligent Conference Call Company Overview - **Company**: Yitian Intelligent - **Industry**: AI and Smart Home Appliances Key Points and Arguments Strategic Partnerships and Collaborations - Yitian Intelligent is collaborating with Yuanxu Technology to expand its industrial chain and promote the development of domestic computing power, particularly through a strategic partnership with the government of Qingyang to build a 100,000-card computing power cluster and a new productivity ecosystem [2][3] Product Development and Market Expansion - The company plans to launch a smart wristband chip by 2028, with a framework agreement valued at 5.5 billion yuan, contingent on the progress of Huiyuan Technology [2][5] - Yitian Intelligent is focusing on integrating kitchen appliances into the smart home ecosystem through AI voice control and smart home system integration, while also expanding its market in the split kitchen appliance sector [4][9] Financial Developments - The company has increased its comprehensive credit line by 4 billion yuan, bringing the total to 6 billion yuan to meet operational and financing needs [2][7] AI Solutions and Revenue Growth - Yitian Intelligent's wholly-owned subsidiary, Shuyun Zhili, specializes in AI solutions across various sectors, with Q1 2025 revenue exceeding the total for 2024, indicating strong market opportunities and improved operational capabilities [2][8] Domestic vs. Overseas Chip Comparison - Domestic computing power chips have advantages in cost control, customization, and autonomy, particularly in edge computing and intelligent cockpit applications. In contrast, overseas chips lead in performance, ecosystem maturity, and established technology [2][6] Market Dynamics and Future Outlook - The company is actively seeking international market opportunities while considering cultural differences and policy dynamics. It aims to optimize its operational strategies to ensure sustainable growth amid market fluctuations [4][11][12] - Despite pressures in the integrated stove industry, Yitian Intelligent remains committed to its traditional business while exploring new business avenues [16][17] Business Segmentation and Future Plans - The company has segmented its business into traditional integrated stoves, main feeders, computing hardware, and AI applications, with a focus on long-term growth despite current uncertainties [13][16] Considerations for Convertible Bonds - Yitian Intelligent is monitoring the potential for strong redemption conditions for its convertible bonds, with future decisions to be based on board resolutions and investor feedback [10] Additional Important Information - The company is committed to maintaining its traditional business while adapting to new market demands and technological advancements, ensuring a balanced approach to growth and stability [12][17]

Group 1: Company Overview and Recent Developments - Zhejiang Yitian Intelligent Kitchen Appliances Co., Ltd. has signed a strategic cooperation framework agreement with Suiruan Technology to build a domestic computing power cluster [2][3] - The cooperation includes purchasing computing power servers and providing related services, aiming to expand the "East Data West Calculation" scale [3][4] - The company is optimistic about the domestic computing power market and aims to enhance its service offerings through collaboration with Suiruan Technology [3][4] Group 2: Domestic vs. Overseas Computing Power Chips - Domestic computing power chips offer advantages in cost control, customization, and autonomous security, particularly in sensitive fields like smart cockpits and edge computing [4] - Overseas chips excel in performance, ecosystem maturity, and technological sophistication, making them suitable for high-end market demands [4] - The company adopts a dual strategy by collaborating with both domestic and overseas chip manufacturers to optimize solutions across various sectors [4] Group 3: International Market Expansion - The company is actively monitoring international market trends and exploring new business opportunities [5] - Plans include deepening existing market penetration and collaborating with international enterprises [5] - The company commits to transparent communication with investors regarding international market developments [5] Group 4: Smart Home Integration - The company is integrating kitchen appliances into the smart home ecosystem through AI and IoT technologies [5] - Features include AI voice control and remote operation via mobile apps, enhancing user experience and product value [5] - Innovative product designs, such as combined steam and baking modules, cater to diverse cooking needs while saving space [5] Group 5: Financial Strategy and Funding - The company has approved an increase in its credit limit by RMB 4 billion, allowing for a total credit limit of up to RMB 6 billion to support its computing power business [8] - This funding aims to meet production and operational financing needs while enhancing decision-making efficiency [8] - The company is also expanding partnerships with banks and financial leasing companies to optimize resource allocation [8]