Core Viewpoint - Xintian Technology plans to raise no more than 291 million yuan through a private placement to invest in its South China precision manufacturing base, R&D center, and to supplement working capital [1][2] Group 1: Investment Projects - The South China precision manufacturing base project has a total investment of 269 million yuan and a construction period of 2 years, aiming to build new factories, warehouses, and office spaces, as well as purchase advanced production and inspection equipment [1] - The R&D center project in South China has a total investment of 41.46 million yuan and a construction period of 3 years, focusing on the research of precision electronic connectors and fluid connection components for data centers [2] Group 2: Operational Needs - The existing capacity at the Shenzhen base is insufficient to meet the order demands from high-quality clients in the new energy, data center, and medical device sectors, necessitating the relocation and expansion of production capacity [2] - The company aims to reduce operational costs, ensure stable production, and optimize capacity layout through the new projects, while also facilitating digital and intelligent upgrades [2] Group 3: Market Context - The company operates primarily in South China, where the demand for precision electronic connectors, liquid cooling connectors, and medical structural components is growing due to the booming downstream sectors [1]

Core Insights - The company reported a revenue of 1.391 billion yuan for the first half of 2025, marking a year-on-year growth of 16% [1] - The new energy business segment showed remarkable performance with a revenue of 402 million yuan, a staggering increase of 177.09% year-on-year, becoming the main growth driver [1] - The automotive business generated 507 million yuan in revenue, reflecting a year-on-year increase of 24.30%, with both segments accounting for over 60% of total revenue [1] Business Development - The company is a significant player in the precision structural components sector, with products spanning new energy, automotive, home appliances, and healthcare [1] - In the new energy sector, the company is actively entering emerging fields such as robotics, collaborating with several humanoid robot companies to develop lightweight structural components, currently preparing for mass production [1] - Progress has been made in the validation of new materials for energy storage and capacity expansion, with multiple new energy projects secured [1] Automotive and Healthcare Initiatives - The automotive segment has innovated with the application of IML technology in exterior components, including complex parts like translucent grilles [1] - The first lightweight tailgate project has received PESO certification, and multiple development projects are underway [1] - In the healthcare sector, several new projects have been initiated, focusing on the medical consumables market with a clear path to mass production [1] Client and Market Position - The company has made significant breakthroughs in acquiring new clients, successfully securing four home appliance-related projects from Xiaomi [1] - R&D investment has increased, with expenses reaching 56.879 million yuan, a year-on-year growth of 22.55%, showcasing a strong technical transformation advantage [2] - The company benefits from a solid client base, including major players like Haier, Foxconn, CATL, BYD, Chery, EVE Energy, and Mindray, across four major industries [2] Future Outlook - Looking ahead, the company anticipates a favorable performance in the second half of the year, driven by the increasing penetration of new energy vehicles and the orderly implementation of supportive policies [2] - Expectations for project implementation, capacity expansion, and market development remain positive, indicating a stable and improving performance outlook [2]