Core Insights - The company reported a revenue of 748 million yuan for 2024, a year-on-year increase of 1.22%, while the net profit attributable to shareholders decreased by 1.56% to 90.39 million yuan [1] - In Q1 2025, the company achieved a revenue of 15.9 million yuan, representing a year-on-year growth of 19.52%, with a net profit of 12.52 million yuan, up 4.09% [1] Business Overview - The company operates in the automotive parts manufacturing industry, focusing on the design, research, production, and sales of chassis suspension system shock-absorbing components and lightweight pedal assemblies for traditional, new energy, and smart driving vehicles [1] - In 2024, the shock-absorbing components and pedal assembly segments contributed over 96% of total revenue, with shock-absorbing components generating 489 million yuan (65.30% of total revenue) and pedal assemblies contributing 230 million yuan (30.75% of total revenue) [1] Market Development - In 2024, the company secured new projects valued at approximately 490 million yuan and generated 136 million yuan from new products [2] - The polyurethane shock-absorbing components business won multiple projects from major automotive manufacturers including Stellantis, Toyota, Volkswagen, BYD, Chery, SAIC Audi, Mercedes-Benz, and Geely [2] - The lightweight pedal business also gained new model projects from SAIC Passenger Cars, BYD, Volkswagen, and others, achieving breakthroughs with SAIC Audi [2] R&D and Automation - The company invested 51.05 million yuan in R&D in 2024, accounting for 6.82% of revenue, with significant advancements in new materials for shock-absorbing components [2] - Automation improvements have led to enhanced production efficiency, product quality, and raw material utilization, with successful implementation of ERP and WMS systems in various production facilities [3] New Energy Vehicle Focus - The company's shock-absorbing components and lightweight pedal assemblies are widely used in new energy vehicles, with sales of approximately 15.15 million shock-absorbing components and 1.5 million lightweight pedal assemblies in the new energy vehicle market [3] - The company is actively involved in the research and manufacturing of core components for electric vehicle chassis systems [3] Future Outlook - The company plans to intensify efforts in developing international and key domestic markets, expand its customer base, and increase market share for new products [3] - There is a commitment to further automation investments, lean production management, and enhancing digital and intelligent capabilities to build "smart factories" [3]

Core Insights - The company demonstrated resilience in a complex economic environment, achieving revenue and net profit growth in Q1 2025 [1] - The company plans to distribute cash dividends and increase capital reserves, reflecting strong financial performance [1] Financial Performance - In 2024, the company reported revenue of 748 million yuan, a year-on-year increase of 1.22%, and a net profit of 90.39 million yuan [1] - For Q1 2025, the company achieved revenue of 159 million yuan, a year-on-year increase of 19.52%, and a net profit of 12.52 million yuan, up 4.09% [1] - The net cash flow from operating activities for 2024 was 129 million yuan, a 16.10% increase, while Q1 2025 saw a significant rise of 144.82% to 29.15 million yuan [1] Business Development - The core business areas of shock-absorbing components and pedals contributed over 96% of total revenue in 2024, with shock-absorbing components generating 489 million yuan (65.30% of total revenue) and pedals 230 million yuan (30.75%) [2] - The company secured multiple projects with major automotive manufacturers, including Stellantis, Toyota, and BYD, enhancing its market presence [2] Technological Advancements - The company invested 51.05 million yuan in R&D in 2024, accounting for 6.82% of revenue, with cumulative R&D investment over three years reaching 176 million yuan [3] - Significant progress was made in production automation, improving product quality and operational efficiency through advanced manufacturing technologies [3] Strategic Direction - The company aims to deepen its core business, accelerate new business development, and enhance overall competitiveness, transitioning from a parts supplier to a systems supplier and expanding internationally [4]