Core Viewpoint - The company is focusing on humanoid robots as a core strategic business, with ongoing development of related sealing products and components [1] Group 1: Business Development - The subsidiary Anhui Ruisi Bo is dedicated to expanding the business related to humanoid robot assembly products [1] - The company has a competitive advantage in the technology of harmonic drive products, with production lines already debugged and in trial production [1] Group 2: Product Development - Existing sealing, rubber, and lightweight businesses are being applied in the robotics field, with some humanoid robot-related sealing products and rubber products already in designated matching [1] - The company is currently focused on producing harmonic reducers and force sensors, with plans to gradually expand into other related product areas, ultimately achieving the production of robot joint assembly products [1]

Financial Performance - In 2024, the company achieved revenue of 18.85 billion (up 9.3% year-on-year) and a net profit attributable to shareholders of 1.25 billion (up 10.6% year-on-year) [1] - In Q1 2025, the company reported revenue of 4.85 billion (up 3.5% year-on-year) and a net profit of 0.4 billion (up 11.5% year-on-year) [1] - The dividend proposal for 2024 is a cash dividend of 1.5 per 10 shares (including tax) [1] Operational Insights - Domestic revenue growth is strong, while overseas cost control shows effectiveness, leading to sustained improvement in profitability [2] - The overall gross margin increased year-on-year, with domestic revenue showing positive growth and overseas business revenue remaining stable [2] - The net profit margin for 2024 reached 6.6%, with Q1 2025 further improving to 8.2% [2] Business Segments - The lightweight and air suspension segments showed significant revenue growth, while traditional rubber business remained stable [2] - The air suspension business's revenue growth and gross margin were slightly below expectations due to lower-than-expected customer growth [2] - The lightweight business saw a notable improvement in gross margin, attributed to achieving economies of scale, with total orders amounting to 14.2 billion for 2024 [2] Robotics Development - The company established a new subsidiary, Anhui Ruisi Bo, to focus on humanoid robot component assembly [3] - The company has a competitive advantage in harmonic reducer technology and is expanding into related products such as force sensors [3] - Strategic partnerships have been signed with several companies to enhance capabilities in humanoid robot components [3] Profit Forecast - The net profit forecast for 2025 and 2026 has been adjusted to 1.67 billion and 1.89 billion, respectively, with a new forecast of 2.04 billion for 2027 [4] - The traditional rubber damping business remains stable, while air suspension and lightweight businesses are in a high growth phase [4] - The strategic focus on humanoid robotics opens new growth opportunities for the company [4]