Group 1: Business Overview - The company operates in two main sectors: automotive components and new energy storage [2] - Automotive components include research, production, and sales of transmission and drive system products for passenger vehicles, commercial vehicles, and new energy vehicles [2] - The company is also focusing on non-road transmission/drive systems, including electric drive systems for construction machinery and high-power tractors [2] Group 2: Passenger Vehicle Transmission Business - The company is expanding its CVT automatic and MT manual transmission products to international markets, aiming for increased export sales [3] - Development of electric vehicle (EV) reducers and related products is ongoing to boost sales [3] Group 3: Commercial Vehicle Transmission Business - The light truck manual transmission market is experiencing strong demand, with significant year-on-year sales growth [4] - The company is developing electric products for light and medium trucks, including hybrid and electric drive systems, which are now in mass production [4] Group 4: Non-Road Transmission/Drive Systems - Focus on developing electric drive systems for construction machinery and high-power tractors, with new products in testing and production [5] - The high-power tractor power shift system and electric drive systems for construction machinery have already been launched [5] Group 5: New Energy Storage Business - The company has operational independent energy storage stations in Zhaoqing and Yiwu, with installed capacities of 100MW/200MWh and 100MW/200MWh respectively [6] - Ongoing construction of additional energy storage stations in Foshan and Yiwu, with expected operational dates in the second half of 2025 [6] - The company is actively expanding its energy storage projects in various regions, including Guangdong, Jiangsu, and Guangxi [6] Group 6: Robotics Components Business - Establishment of Zhejiang Wanliyang Robotics Technology Co., Ltd. to focus on the development and industrialization of precision transmission products for robots [7] - Initial completion of product platform planning, including harmonic reducers and planetary reducers, with standardized designs [7][8] - Currently developing products for two clients, with the first planetary joint module successfully completed [8]

Core Viewpoint - The company Wanliyang (002434) is focusing on the development of energy storage power stations, particularly in the grid-side and user-side sectors, to provide flexible power regulation services [1] Group 1: Current Operations - Wanliyang's subsidiary, Wanliyang Energy, has operational energy storage power stations in Guangdong and Gansu provinces, primarily providing frequency regulation services for power plants [1] - The company has already put into operation two grid-side independent energy storage power stations: the "Wanliyang Duanzhou Independent Energy Storage Station" in Zhaoqing, Guangdong, with a capacity of 100MW/200MWh, and the "Yiwu Wanliyang Suxi Substation Independent Energy Storage Station" in Yiwu, Zhejiang, also with a capacity of 100MW/200MWh [1] Group 2: Future Developments - The company plans to focus on the development of grid-side independent energy storage stations and user-side energy storage stations in the coming years [1] - Currently under construction are two grid-side independent energy storage stations: the "Wanliyang Gaoming Independent Energy Storage Station" in Foshan, Guangdong, with a capacity of 200MW/400MWh, and the second phase of the "Yiwu Wanliyang Suxi Substation Independent Energy Storage Station" in Yiwu, Zhejiang, with a capacity of 50MW/100MWh, expected to be operational in the second half of 2025 [1]

Core Viewpoint - The company, Wanliyang, is actively developing its energy storage projects, focusing on both grid-side and user-side energy storage systems, with significant operational capacity already established and future projects underway [1] Group 1: Current Operations - The subsidiary, Wanliyang Energy, has operational energy storage power stations in Guangdong and Gansu provinces, primarily providing frequency regulation services to power plants [1] - Two grid-side independent energy storage stations are already operational: the "Wanliyang Danzhou Independent Energy Storage Station" in Zhaoqing, Guangdong, with a capacity of 100MW/200MWh, and the "Yiwu Wanliyang Suxi Transformer Independent Energy Storage Station" in Yiwu, Zhejiang, also with a capacity of 100MW/200MWh [1] Group 2: Future Developments - The company plans to focus on developing grid-side independent energy storage stations and user-side energy storage stations in the coming years [1] - Ongoing construction includes the "Wanliyang Gaoming Independent Energy Storage Station" in Foshan, Guangdong, with a capacity of 200MW/400MWh, and the second phase of the "Yiwu Wanliyang Suxi Transformer Independent Energy Storage Station" in Yiwu, Zhejiang, with a capacity of 50MW/100MWh, expected to be operational in the second half of 2025 [1]

Core Viewpoint - Wanliyang (002434) is actively developing energy storage projects, focusing on both generation-side and grid-side energy storage systems to provide flexible power regulation services [1] Group 1: Company Developments - Wanliyang's subsidiary, Wanliyang Energy, has operational energy storage power stations in Guangdong and Gansu provinces, primarily providing frequency regulation services for power plants [1] - The company plans to focus on the development of independent energy storage stations on the grid side and user-side energy storage stations in the coming years [1] Group 2: Industry Services - The grid-side independent energy storage stations will mainly offer peak shaving, frequency regulation, backup, and black start services to enhance the flexibility of power supply [1]

Group 1: Automotive Components Business - The company focuses on the research, production, and sales of automotive transmission and drive system products, covering passenger vehicles, commercial vehicles, and new energy vehicles [1] - The company is actively developing non-road transmission/drive system products, including electric drive systems for construction machinery and high-power tractors [2] - The company has expanded its international market, increasing direct exports of CVT products and developing electric vehicle (EV) reducers [2] Group 2: Commercial Vehicle Transmission Business - The light truck transmission business is steadily developing existing manual transmission products while actively developing electric products, covering P2 and PS hybrid systems [2] - The heavy truck transmission business includes AMT automatic transmissions and pure electric drive systems, with related products gradually entering mass production [2] Group 3: Non-Road Transmission/Drive Systems - The company is focusing on the development of electric drive systems for construction machinery and high-power tractors, with new product research and customer development progressing simultaneously [2] Group 4: New Energy Storage Business - The company has operational independent energy storage power stations in Zhaoqing and Yiwu, with installed capacities of 100MW/200MWh and 100MW/200MWh, respectively [3] - Additional energy storage projects are under construction in Guangdong and Zhejiang, which will further increase revenue from the energy storage business [3] Group 5: Robotics Components Business - The company established Zhejiang Wanyiyang Robotics Technology Co., Ltd. to focus on the research and industrialization of precision transmission products for robots [4] - Initial product platform planning has been completed, including standardization and platform design for various types of products [4]

Group 1: Company Overview - The company operates in two main business segments: automotive parts and new energy storage [1] - The automotive parts segment includes the R&D, production, and sales of transmission and drive system products for passenger vehicles, commercial vehicles, and new energy vehicles [1] - The new energy storage segment focuses on power-side storage power stations, grid-side independent storage power stations, user-side storage power stations, and electricity trading [1] Group 2: Passenger Vehicle Transmission Business - In 2024, the company's direct export sales of passenger vehicle transmission products saw a significant year-on-year increase [2] - The company is actively developing overseas clients to sustain revenue growth from international markets [2] - There is a strong push for electric vehicle (EV) reducers and related products, contributing to increasing sales [2] Group 3: Commercial Vehicle Transmission Business - The light truck transmission business is expanding with a focus on both manual and electric products, including P2 and PS hybrid systems [2] - The heavy truck transmission business includes AMT automatic transmissions and pure electric drive systems, with production and sales expected to grow as client models are launched [2] Group 4: New Energy Storage Business - The company has operational independent storage power stations in Zhaoqing, Guangdong (100MW/200MWh) and Yiwu, Zhejiang (100MW/200MWh) [3] - These projects leverage the company's extensive experience in design, integration, construction, and operation within the energy storage sector [3] - New project developments are underway in Guangdong, Hainan, and Zhejiang provinces to further enhance the new energy storage business [3] Group 5: Robotics Components Business - A dedicated team for the industrialization of robotic reducers has been established to enhance product offerings [4] - The company is focusing on the development and integration of harmonic reducers and planetary reducers to improve market share [4]