Group 1: Green Energy and Storage Project - The construction of the 100MW/200MWh shared energy storage project in Ningxia's Minning Green Power Town is progressing rapidly, marking the first "Green Power Town" in the northwest region [1] - This project features a grid-structured energy storage system that can autonomously supply power to the grid during outages, ensuring stability and reliability of electricity supply [1] - The project utilizes AI and big data to develop an optimal energy mix model, enabling precise calculations for achieving "24-hour green electricity" supply [1] - Once operational, the energy storage station can store 200,000 kWh of electricity, meeting the daily power needs of approximately 24,000 households and reducing CO2 emissions by about 30,000 tons annually [1] Group 2: Industrial Development in Yinchuan - Yinchuan is promoting the deep integration of industry and technology, establishing a modern industrial system that serves as a core engine for high-quality development in the northwest region [2] - The industrial sapphire industry in Yinchuan has become a growth driver, with a production capacity of 8,200 tons of industrial sapphire crystals and 21.6 million sapphire wafers, making it the largest production base in the country [2] - The "smart factory" of Weili Transmission in Yinchuan showcases modern industrial development, utilizing robotics and real-time data to enhance production efficiency [3] - Weili Transmission is focused on providing precision transmission solutions for the renewable energy sector and is developing a "smart factory" for wind turbine gearboxes, aiming to become a leading R&D and production base in northern China [3]

Core Viewpoint - The performance of Jingzhu Technology is currently under pressure due to fluctuations in export business and expenses, with a revenue of 2.03 billion yuan in 2024, down 3.7% year-on-year, and a net profit of 160 million yuan, down 33.1% year-on-year [2][11][16] Financial Performance - In 2024, Jingzhu Technology reported a revenue of 2.03 billion yuan, a decrease of 3.7% year-on-year, and a net profit of 160 million yuan, down 33.1% year-on-year. The net profit excluding non-recurring items was 120 million yuan, down 41.2% year-on-year [2][11][16] - For Q4 2024, the revenue was 560 million yuan, a decrease of 6.7% year-on-year but an increase of 21.3% quarter-on-quarter. The net profit was 40 million yuan, down 12.0% year-on-year but up 93.7% quarter-on-quarter [2][11][16] - In Q1 2025, the company achieved a revenue of 510 million yuan, an increase of 1.6% year-on-year but a decrease of 8.2% quarter-on-quarter. The net profit was 40 million yuan, down 14.9% year-on-year and down 7.9% quarter-on-quarter [2][11][16] Cost Management - In Q1 2025, the sales, management, and R&D expense ratios were 0.8%, 6.8%, and 6.0%, respectively, showing slight year-on-year and quarter-on-quarter changes. The gross profit margin was 24.3%, down 3.1 percentage points year-on-year but up 1.6 percentage points quarter-on-quarter [4][3][11] Business Expansion - The company is expanding its product categories from single gear supply to differential assembly supply, while also venturing into reducer gears and lightweight chassis business. It has secured orders from domestic brands, new forces, Volvo, and major North American clients [6][5] - The overseas expansion includes a factory in Thailand expected to begin small-scale trial production in June 2025, with mass supply planned for the second half of 2025. Future plans also include establishing a production base in North Africa [6][5] Robotics Sector - The company is actively advancing its robotics intelligent joint module business, collaborating with Tianjin Aima Automation to establish a joint venture. The internal team is progressing as planned, leveraging its gear forging capabilities and customer base for advancements in the robotics sector [8][7]