Core Viewpoint - Hansang Technology has been officially included in the Shenzhen Stock Connect, effective September 22, 2023, highlighting its strong business capabilities and growth potential just over a month after its IPO [1] Group 1: Company Overview - Founded in 2003, Hansang Technology specializes in high-end audio products and comprehensive audio technology solutions, establishing a complete technical closed loop from audio signal processing to cloud platforms [3] - The company has achieved industry-leading performance metrics, including a total harmonic distortion (THD) as low as 0.0003% in its digital high-fidelity signal processing technology [3] Group 2: Product and Market Position - Hansang Technology's core business includes high-performance audio products and innovative audio and AIoT smart products, which together account for approximately 95% of its main business revenue [4] - The company has sold nearly 10 million units of its children's smart speakers globally, and its gaming audio systems have become a new growth engine, contributing 50.23% of revenue in 2024 [4] Group 3: Research and Development - The company has established three R&D centers in Nanjing, India, and Denmark, with an international team of 277 researchers, and has invested over 229 million yuan in R&D during the reporting period [4] - Hansang Technology holds 119 authorized patents, with 98 in China and 21 overseas, and has received recognition as a "High-tech Enterprise in Jiangsu Province" [4] Group 4: Financial Performance - In 2024, Hansang Technology reported revenue of 1.452 billion yuan, a year-on-year increase of 40.83%, and a net profit of 253 million yuan, with a gross margin of 32.50% [5] - The inclusion in the Shenzhen Stock Connect is expected to support the company's projects, including the annual production of 1.5 million high-end audio products [5] Group 5: Strategic Development - The company plans to deepen its development along the "1+2+3+4" strategy, focusing on audio technology, expanding into dual markets, and exploring three types of business while delving into four major sectors [5]