Group 1: Company Expansion and Strategy - The company has established a wholly-owned subsidiary, New Vietnam Intelligent Equipment Co., Ltd., in Hanoi with a registered capital of 25.25 billion VND (approximately 100,000 USD), marking a significant step in its internationalization strategy following the establishment of a subsidiary in Singapore in July 2023 [1] - The company is implementing a dual-driven strategy of "capital empowerment + deepening industrial engagement," which includes setting up a platform company in Singapore, acquiring a stake in Hunan Southern Machine Tool, and launching operations in Vietnam to support global market expansion [1][2] - The Vietnam subsidiary will serve as a frontline window in Southeast Asia, enhancing the company's responsiveness and international service capabilities to meet the needs of downstream customers' global manufacturing bases [1] Group 2: Financial Performance and Innovation - In 2024, the company achieved a historical high in revenue of 473 million CNY, representing a year-on-year growth of 12.41% [2] - The company invested 49.46 million CNY in R&D, accounting for 10.47% of its revenue, and successfully developed six new products, four of which reached international advanced levels [2] - The company focuses on high-end composite vertical grinding machines, CNC double-sided grinding machines, and multi-axis polishing equipment, which are widely used in key sectors such as consumer electronics, automotive parts, aerospace, and semiconductors [2] Group 3: Market Trends and Opportunities - Orders from emerging industries such as new energy, precision manufacturing, and new materials have seen significant year-on-year growth, with revenue from automotive parts manufacturing and energy sectors increasing by 131.52% and 910.20%, respectively [3] - The company is expected to benefit from new development opportunities in the machine tool industry, driven by policies promoting large-scale equipment updates and consumption upgrades [3] - The completion of the Vietnam subsidiary reflects the company's commitment to smart manufacturing and internationalization, signaling a strategic shift from "layout" to "operation" [3]