Core Insights - The company, Tanshan Group, was awarded the "Annual Outstanding Value Listed Company" in the 2025 New Consumption and New Economy Annual Selection, recognizing its innovative capabilities and strategic transformation in the new consumption sector [1] - The award reflects the company's dual business strategy of "outdoor + chips," which has proven to be forward-looking and feasible [1] Acquisition and Strategic Development - Tanshan Group announced the acquisition of 51% stakes in two leading chip companies, Betel and Shanghai Tongtu, for a total of 680 million yuan, marking a significant step in its strategic layout in the semiconductor and edge AI sectors [2] - This acquisition aims to establish a comprehensive "perception + display" dual-engine strategy, enhancing the company's core technology in chips and expanding into high-growth AI markets [2] - Betel has over a decade of expertise in mixed-signal chain chips, with its fingerprint recognition chip holding the top market share in smart locks, while its touch chips are integrated into leading laptop brands [2] - Shanghai Tongtu has established a competitive edge in display processing and IP licensing, with its RISC-V architecture-based SOC chip leading the high-end OLED screen market [3] - The integration of these companies will allow Tanshan Group to create a complete ecosystem from chip design to terminal solutions, aligning with the current trend of "AI + vertical scenarios" [3] Outdoor Business and Technological Integration - Tanshan Group's core outdoor business has been a solid foundation for its diversified transformation, contributing to its recognition as an outstanding value listed company [4] - The company has over 26 years of experience in the outdoor equipment sector, developing a comprehensive product ecosystem that includes extreme environment gear and collaborations with China's manned space program [4] - Tanshan Group has successfully applied aerospace-grade technology to consumer outdoor products, enhancing features like lightweight design and temperature control [4] - The company continues to innovate in outdoor smart equipment, launching products like exoskeletons and smart ski helmets that meet the growing market demand for intelligent outdoor gear [4] Future Outlook - Tanshan Group's dual business model of "outdoor + chips" is expected to continue driving value creation, transforming from a traditional equipment manufacturer to a technology group focused on chip technology and outdoor applications [5] - The synergy between the two business segments is anticipated to enhance the company's core competitiveness in the evolving landscape of technology-driven consumer markets [5]

Core Viewpoint - The company is expanding its product offerings and market presence in both the exoskeleton and semiconductor sectors, indicating a strategic diversification and growth trajectory [1] Group 1: Exoskeleton Product Development - The company has launched its second-generation exoskeleton products in key offline stores across Beijing, Xi'an, and Zhengzhou, establishing experience zones for customers [1] - An online e-commerce platform has been initiated for pre-sales of the exoskeleton products, enhancing accessibility for consumers [1] - Rental services for the exoskeleton products are now available in scenic areas such as Daocheng Yading and Jiuhua Mountain in Anhui [1] Group 2: Semiconductor Sector Expansion - The company has recently acquired two semiconductor firms, Shenzhen Betelgeuse and Shanghai Tongtu, marking a comprehensive layout in the semiconductor field with a focus on a full chain from "graphics to display to touch to perception" [1] - Shanghai Tongtu has provided core high-definition video algorithms to leading domestic AI glasses companies, showcasing the company's technological capabilities [1] - Shenzhen Betelgeuse's hover touch control chips have achieved mass production in various new consumer electronic products, indicating successful integration into the market [1]