Core Insights - The company Liad (300296.SZ) is currently focusing on AI and spatial computing, with approximately 5% of its business derived from these sectors [1] - Over 80% of the revenue in the AI segment comes from a partnership with a leading US company, primarily through hardware sales [1] - The domestic virtual motion business is centered on embodied intelligence, collaborating with robotics manufacturers on customized solutions, which include hardware sales, data provision, and motion training [1] Business Model - The AI and spatial computing sectors are primarily hardware sales-driven, with a significant portion of revenue linked to a major US partner [1] - The company has implemented or won multiple projects for building robot data training centers, which typically operate on a project-based fee structure [1]