Financial Performance - In Q1 2025, the company achieved operating revenue of 49.95 million yuan, a year-on-year increase of 0.65% [1] - The net profit attributable to shareholders was 2.89 million yuan, a significant increase of 454.20% year-on-year [1] - The net cash flow from operating activities improved significantly to 14.72 million yuan compared to the same period last year [1] Nuclear Power Business - The company is a leading supplier of condensate water treatment systems for nuclear power plants in China, benefiting from favorable nuclear power policies [2] - The company has participated in major projects using the "Hualong One" nuclear technology, providing critical support for the safe operation of these projects [2] - The recent approval of five nuclear power projects, including eight units using "Hualong One" technology, is expected to drive over 100 billion yuan in market demand for nuclear power equipment [3] Hydrogen Energy Business - The hydrogen energy sector is a strategic emerging business for the company, which has developed key components for hydrogen fuel cells, including membrane electrodes and bipolar plates [4] - The company’s fourth-generation membrane electrode, launched in 2024, has achieved a power density of 2.25 W/cm²@0.6 V, positioning it as a leader in the domestic market [4] - The hydrogen fuel cell system's applications are expanding beyond public transport to include logistics, marine, and drone sectors, aligning with the growth of the low-altitude economy [5]

Group 1: Company Overview - The company primarily serves the global consumer electronics, new energy vehicles, and information storage industries, providing precision functional components, precision structural parts, and module products [2] - The company aims to provide the best solutions for customers, focusing on consumer electronics and new energy vehicles as core strategic areas [2] Group 2: Financial Performance - In 2024, the company achieved a revenue of 4.796 billion yuan, a year-on-year increase of 6.18% [2] - The net profit attributable to shareholders in 2024 was 1.482 billion yuan, a decrease of 2.62% compared to the previous year [2] - Revenue breakdown for 2024: - Smart terminal functional components and precision structural parts generated 2.535 billion yuan, accounting for 52.86% of total revenue [2] - New energy vehicle products generated 1.757 billion yuan, accounting for 36.64% of total revenue [3] - Information storage products generated 463 million yuan, accounting for 9.66% of total revenue [3] Group 3: New Energy Vehicle Business - The revenue from new energy vehicle products has been steadily increasing, with contributions of 16.30%, 23.17%, 28.64%, and 32.94% in the years 2020, 2021, 2022, and 2023 respectively [4] - The company is actively expanding its product line and optimizing costs to enhance competitiveness in the new energy vehicle sector [4] Group 4: Subsidiary Performance - The subsidiary, Weibo Precision, achieved a revenue of 656 million yuan and a net profit of 28.48 million yuan in 2024, benefiting from increased customer demand and improved cost management [5] Group 5: Hydrogen Fuel Cell Business - The company is advancing its hydrogen fuel cell business, with the metal bipolar plate production line completed and small-scale production initiated in 2024 [6] - The company is also developing hydrogen fuel cell membrane electrode products, currently in the testing phase [6] Group 6: Overseas Expansion - The company has established overseas factories in Thailand and the USA, with additional factories in Vietnam and Mexico under construction [6]