Core Insights - The company reported a revenue of 1.594 billion yuan for the first three quarters of 2025, marking a year-on-year increase of 27.78%, with the third quarter alone achieving 621 million yuan, a growth of 40.44% [1] Group 1: Robotics Business Development - The company has identified three key development directions in the robotics sector: robot inspection, complete line OEM, and secondary development of robots, achieving tangible results [2] - The company has successfully received an OEM order for a complete line from a U.S. educational robotics company, with products being delivered [2] - A subsidiary showcased a developed inspection robot dog for the Shanghai police, enhancing operational efficiency for law enforcement [2] - The four-legged robot market in China is projected to grow from 2.37 billion USD in 2024 to 16.2 billion USD by 2029, with a CAGR of 46.8% from 2024 to 2029 [2] Group 2: Liquid Cooling Market Expansion - The global liquid cooling market is expected to reach 35.4 billion yuan in 2025, 71.6 billion yuan in 2026, and 108.2 billion yuan in 2027, with a potential to exceed 100 billion yuan by 2027 [4] - The company has successfully integrated the liquid cooling industry chain, developing cooling liquid products suitable for electric vehicles and data centers [4] - A custom-developed 0.08mm fin heat sink architecture has received orders from a Taiwanese client, utilizing advanced MLCP technology to effectively manage high thermal loads [4] Group 3: Strategic Outlook - The company's dual breakthroughs in robotics and liquid cooling align with the core industrial demands of AI computing power enhancement and intelligent manufacturing [5] - The company is poised to open new growth avenues amid the "14th Five-Year" industrial upgrade wave, laying a solid foundation for high-quality development [5]