Core Insights - The company reported a revenue of 12.702 billion yuan for 2024, representing a year-on-year increase of 15.28% [1] - The net profit attributable to shareholders reached 784 million yuan, up 28.00% year-on-year [1] - The company is making significant progress in emerging businesses, particularly in digital energy thermal management and robotics [1] Financial Performance - For Q4 2024, the company achieved a revenue of 3.497 billion yuan, a year-on-year increase of 15.57% and a quarter-on-quarter increase of 14.51% [1] - The net profit attributable to shareholders for Q4 was 179 million yuan, reflecting a year-on-year increase of 6.40% but a quarter-on-quarter decrease of 10.91% [1] - The non-recurring net profit for Q4 was 134 million yuan, down 20.14% year-on-year and down 27.83% quarter-on-quarter [1] Business Development - The company has established a solid foundation for its first and second business lines, while the third and fourth lines are experiencing rapid growth [1] - In the digital energy thermal management sector, the company has successfully expanded into energy storage systems, ultra-fast charging equipment, and data centers, achieving a milestone in liquid cooling solutions for data centers [1] - In the robotics field, the company has secured 10 patent authorizations and made significant advancements in key component development and market expansion [1] Share Buyback Proposal - The chairman proposed a share buyback using company funds, with a total amount between 50 million and 100 million yuan, aimed at stabilizing stock prices and enhancing investor confidence [2] - The buyback reflects management's confidence in the company's future development and aims to align employee interests with company growth [2] Investment Outlook - Revenue projections for 2025-2027 are 15.377 billion, 18.286 billion, and 21.599 billion yuan, respectively [3] - Expected net profits for the same period are 1.090 billion, 1.352 billion, and 1.671 billion yuan, respectively [3] - The estimated basic earnings per share for 2025-2027 are 1.31, 1.62, and 2.00 yuan, with corresponding PE ratios of 19.11, 15.40, and 12.46 [3]