Group 1: Company Overview - The company was established in 2009 and listed on the Shenzhen Stock Exchange in 2017, focusing on IoT terminal products and solutions for global clients [2] - It is recognized as a national-level "Little Giant" enterprise, with a wide business matrix covering various wireless communication technologies [2] - The company has R&D centers in Shanghai, Shenzhen, and Hefei, and serves over 140 countries and regions worldwide [2] Group 2: Financial Performance - In Q2 2025, the company achieved a revenue of CNY 203.17 million, a 29.57% increase compared to Q1 [3] - The net profit attributable to shareholders was CNY 21.23 million, reflecting a 116.97% growth from Q1 [3] - R&D investment reached CNY 64.55 million, a 14.14% year-on-year increase, with an R&D expense ratio of 17.93% [3] Group 3: Business Segments - Revenue from animal tracking and tracing products was CNY 25.18 million, up 22.44% year-on-year [3] - Video telematics generated CNY 19.23 million, showing an 89.87% increase [3] - Industrial routers earned CNY 0.80 million, a 48.74% growth [3] - Cold chain products faced a revenue decline of 42.05%, totaling CNY 28.56 million due to fluctuating customer demand [3] Group 4: Market Dynamics - The company experienced regional revenue variations, with North America and Europe facing declines due to tariff policies and seasonal demand fluctuations, while South America and domestic markets showed growth [4] - The company plans to deepen its global strategy, focusing on potential markets like the Middle East and India [4] Group 5: Product Development and Certifications - The ECALL emergency light product has passed DGT3.0 certification, allowing entry into the Spanish and some EU markets [3][5] - The company maintains a gross margin of 41.01%, consistently above 40% in recent years, due to strong cost control and high-quality product offerings [5] Group 6: Financial Health and Shareholder Returns - The cash dividend for 2024 accounted for over 63% of the company's net profit, indicating strong financial health and cash flow [3] - The company has a rigorous credit assessment mechanism for clients, resulting in a low bad debt probability [5]

Financial Performance - In 2024, the company achieved operating revenue of 967 million yuan, a year-on-year decrease of 4.81%, while net profit reached 159 million yuan, an increase of 8.08% [1] - The comprehensive gross profit margin for 2024 was 41.95%, up by 1.55% year-on-year [1] - The profit distribution plan for 2024 includes a cash dividend of 2.20 yuan per 10 shares (tax included), totaling over 100 million yuan, which accounts for more than 63% of the company's net profit for the year [1] International Business Growth - The company's overseas revenue in 2024 was approximately 934.16 million yuan, reflecting a year-on-year growth of 3.35% [2] - Revenue growth in various regions included Asia at 68.88%, Oceania at 27.56%, South America at 12.17%, and North America at 2.79% [2] - The company maintains a competitive advantage in international markets due to its strong market foundation and mature operational model [2] Emerging Business Opportunities - The company's emerging businesses showed significant growth, with cold chain products generating revenue of 136.99 million yuan, up 14.97% year-on-year [3] - Revenue from video vehicle networking reached 39.74 million yuan, a remarkable increase of 743.96% [3] - The company is leveraging new technologies such as artificial intelligence to drive a new wave of technological revolution and industrial transformation [3] Regulatory Impact and Market Strategy - The introduction of new national standards for electric two-wheelers is expected to create development opportunities for the company, despite initial market expansion challenges [4] - The company has developed multiple products for the electric two-wheeler market, which can be utilized in e-bikes, electric scooters, and electric motorcycles [4] - In Q1 2025, the company experienced a revenue decline of 26.12% and a net profit decline of 72.38%, prompting strategic adjustments in market diversification and supply chain management [4]