Core Viewpoint - Xuelong Group plans to establish an innovative R&D center and smart digital factory for key components of new energy commercial vehicles in Ningbo Economic and Technological Development Zone, with an initial investment of 680 million yuan [1][9]. Group 1: Investment and Project Details - The project will cover approximately 94.71 acres and aims to enhance product structure and meet diverse customer needs [1]. - The first phase of the project will focus on the intelligent manufacturing base for thermal management systems of new energy commercial vehicles, including the development of energy-saving fan integrated systems [7][9]. - The investment decision aligns with the company's long-term development strategy and is expected to strengthen its core competitiveness in the commercial vehicle parts sector [9]. Group 2: Strategic Development and Market Position - Xuelong Group has made significant progress in strategic layout and product promotion, including the construction of a new base in Beilun and expanding its presence in the new energy sector through external investments [2]. - The company has developed a low-voltage electric fan assembly for new energy commercial vehicles, which is competitive with foreign products and is now capable of mass production [2]. - A specialized R&D team has been established to achieve technological breakthroughs in high-pressure motors and control systems for cooling fans in new energy commercial vehicles [2]. Group 3: Regional Economic Impact - The project is expected to contribute to the economic transformation and high-quality development of the Beilun District, serving as a key demonstration project for the region [5][12]. - The investment will facilitate the efficient use and sharing of regional resources, promoting the development of other industrial enterprises in the area [12].

Core Viewpoint - Xuelong Group plans to invest in a key component innovation R&D center and smart digital factory for new energy commercial vehicles, with a total investment of 680 million yuan for the first phase [1][2] Investment Details - The investment agreement will be signed with the Ningbo Economic and Technological Development Zone Investment Promotion Bureau, covering a planned area of approximately 94.71 acres [1] - The first phase includes the establishment of an intelligent manufacturing base for thermal management systems for new energy commercial vehicles, funded by the company's own or self-raised funds [1][2] Strategic Importance - This investment aligns with the company's long-term development strategy, enhancing its core competitiveness and economic benefits in the core component field of commercial vehicles [2] - The project completion is expected to provide a solid guarantee for customer service, without adversely affecting the company's financial and operational status [2] Market Context - The commercial vehicle market is currently in an adjustment phase, with a projected production of 3.8047 million units in 2024, a decrease of 5.76% year-on-year [3] - Factors contributing to this decline include a sluggish freight market and intensified competition [3] Financial Performance - In 2024, Xuelong Group reported revenues of 360 million yuan, down 6.26% year-on-year, and a net profit of approximately 60.41 million yuan, down 14.43% year-on-year [3] - Despite industry pressures, the company maintains resilience through product structure optimization and international market expansion [3] Future Outlook - The company anticipates a recovery in the commercial vehicle market by 2025, driven by new policies and technological advancements [4] - Xuelong Group's products, such as the electronically controlled silicone oil clutch assembly, are expected to generate revenue growth due to compliance with the latest emission standards [4][5]