Core Viewpoint - The company is experiencing significant growth in the humanoid robot sector, with expectations of increased production and collaboration with major partners in the automotive industry [1][2]. Group 1: Company Developments - The company held its 2024 annual shareholder meeting on May 15, where it announced that it has received orders for over 10,000 humanoid robot-related products in Q1, with an expected annual production of around 80,000 units, representing a three to four times increase compared to 2024 [1]. - The company is developing modular products to increase profit margins, as the gross margin for standard planetary gear products has dropped below 20%, while customized high-precision planetary gears for humanoid robots maintain a net profit level of around 40% [6][4]. - The company is constructing a new factory with a planned area of approximately 70,000 square meters, expected to be completed by the end of next year [6]. Group 2: Market Trends and Competition - Major automotive manufacturers are entering the humanoid robot market, which is anticipated to become a competitive battleground in the near future [1]. - The company is facing intense competition in the humanoid robot supply chain, leading to price wars among manufacturers [6]. Group 3: Product Development and Applications - The company has been developing planetary gear reducers since 2008 and is currently focusing on the performance requirements of these reducers for humanoid robots [2]. - Humanoid robots are primarily used for performances, education, and exhibitions, with potential future applications in household services and companionship expected to mature in about three years [3]. Group 4: International Expansion - The company is increasing its overseas market development, having established wholly-owned subsidiaries in Japan and the United States to enhance sales channels [7]. - In 2024, overseas revenue accounted for only 7.08% of total revenue, with a decline in revenue from the U.S. market from 30 million yuan in 2023 to around 20 million yuan in 2024 [7].