Company Overview - Jinma Amusement (300756.SZ) is entering a new chapter in the cultural tourism and entertainment robotics business, maintaining a "buy" rating and projecting strong long-term growth potential [1] - The company has secured over 1,000 orders for intelligent robots during a recent event, including a significant order from Lehua Entertainment for 1,000 cultural tourism robots, with deliveries starting in December 2025 and completing by 2026 [1] Product Innovation - The company launched two core innovative products: the "Xiao Ma No. 1" humanoid robot, which features multimodal interaction technology for various functions, and the "Robot MART" retail service store, which operates autonomously in a 7-square-meter space [2] - These products are set to be deployed in commercial complexes, cinemas, theme parks, and scenic spots starting in December 2025 [2] Technical and Production Capacity - Jinma Amusement's strategic transformation is supported by decades of industry experience and a robust technical foundation, with products distributed in nearly 50 countries [2] - The company is establishing two R&D and production bases, expected to be operational by the end of 2025 and mid-2026, enhancing its delivery capabilities significantly [3] Financial Performance - In the first three quarters of 2025, the company reported revenue of 569 million yuan, a year-on-year increase of 23.76%, and a net profit attributable to shareholders of 90 million yuan, a staggering increase of 456.47% [3] - Forecasts indicate that revenue will reach 780 million yuan, 1.21 billion yuan, and 1.9 billion yuan from 2025 to 2027, with net profits of 110 million yuan, 160 million yuan, and 280 million yuan respectively, reflecting strong growth potential [3] Industry Context - The "14th Five-Year" cultural and tourism development plan promotes smart tourism and digital transformation, supported by local government subsidies for equipment upgrades [3] - The digital cultural tourism market in China is projected to exceed 1.2 trillion yuan by 2025, with a compound annual growth rate of 24.7% from 2023 to 2030, positioning AI guides and smart retail as key growth drivers [3]