Core Insights - The company reported a total of 10.62 billion RMB in contracts signed or won in October 2025, contributing to a total of 226.86 billion RMB for the period from January to October, marking a year-on-year growth of 6% and setting a historical record [1] Group 1: Business Segments Performance - The smart cable network business achieved a total of 186.24 billion RMB in contracts from January to October, reflecting a year-on-year increase of 11.92%, with 8.59 billion RMB in contracts signed in October [1] - The smart battery business recorded 19.93 billion RMB in contracts from January to October, with 1.21 billion RMB in contracts signed in October [1] - The smart airport business secured 20.70 billion RMB in contracts from January to October, with October contracts amounting to 0.82 billion RMB, showing a year-on-year growth of 21.19% and a month-on-month increase of 205.82% [1]

Core Insights - The company reported a revenue of 26.094 billion yuan for 2024, an increase of 6.66% year-on-year, but incurred a net loss attributable to shareholders of 318 million yuan [1] - The smart battery business showed significant revenue growth, achieving 1.654 billion yuan in 2024, a year-on-year increase of 180.47% [2] - The smart cable network business faced challenges, with a revenue of 22.703 billion yuan in 2024, a decrease of 2.22 percentage points in gross margin [1] Revenue and Profitability - In 2024, the company achieved total revenue of 26.094 billion yuan, with a net loss of 318 million yuan and a non-recurring net loss of 377 million yuan [1] - For Q1 2025, the company reported revenue of 4.874 billion yuan, a 1.3% increase year-on-year, and a net profit of 46 million yuan, up 84.65% [1] - The smart battery segment generated revenue of 1.654 billion yuan in 2024, with a gross margin of -8.54% [2] Business Segment Performance - The smart cable network business generated revenue of 22.703 billion yuan in 2024, with a gross margin of 10.16%, down 2.22 percentage points [1] - The smart battery business's revenue for Q1 2025 was 329 million yuan, with a net loss reduced by 33.14% year-on-year [2] - The smart airport business achieved revenue of 1.659 billion yuan in 2024, a 35.76% increase, and secured 93 airport engineering projects [3] Strategic Developments - The company entered a technology licensing agreement with the UK-based battery manufacturer Volklec to enhance global energy storage technology [3] - The company is focusing on product upgrades in the smart cable network sector and has made significant breakthroughs in AI-related projects [1] - Strategic partnerships have been established with various robotics companies for the supply of flexible drag chain cables and robotic arm cables [1]