Core Viewpoint - The company held a Q3 2025 earnings presentation on December 5, 2025, to address investor inquiries regarding its performance and strategic developments [1][2]. Group 1: Company Globalization and Client Structure - The company is advancing its global layout and localization strategy, having established a factory in Japan in 2023 and made significant progress on a Czech facility, which is now in trial production [3]. - In the first three quarters of 2025, the top five end customers contributed 61.30% of the company's revenue, with notable growth from NIO [4]. - The commercial vehicle business accounted for less than 15% of total revenue in the same period [5]. Group 2: Financial Performance and Cost Management - The company's QS expenses decreased by 57% year-on-year, indicating effective cost control measures [6]. Group 3: Product Development and Market Position - The company is a leader in the global lighting control sector, with products supplied to over 30 major automotive manufacturers, including Volkswagen and BMW [7]. - The company has developed high-cost performance automotive central computing platforms and smart driving domain control products, with projected sales exceeding 20 billion yuan from ongoing projects [8]. - The Efuse products have gained traction with clients such as Zeekr, Ideal, Mercedes-Benz, and Ford, reflecting strong market acceptance [8]. Group 4: Revenue Growth and Future Outlook - USB product revenue grew by over 20% year-on-year in the first three quarters of 2025, with future performance dependent on market demand [9]. Group 5: Compliance and Corporate Governance - The independent directors confirmed the legality and compliance of the proposed convertible bond issuance, ensuring it aligns with regulatory requirements and does not harm shareholder interests [9].

Core Viewpoint - Kobotada Technology Co., Ltd. plans to issue convertible bonds to raise up to 1.49 billion yuan for capacity expansion, technology research and development, and working capital to support its growth in the automotive electronics sector [2] Fundraising Purpose - The net proceeds from the fundraising will be allocated to five major projects, including capacity expansion for automotive central computing platforms and intelligent driving domain controllers, with a planned investment of 386.91 million yuan [2] - The second phase of the base construction and capacity expansion for automotive electronic products will receive an investment of 299.90 million yuan [2] - The capacity expansion project for automotive electronic products at Zhejiang Kobotada Industrial Co., Ltd. is set to receive 344.30 million yuan [2] - The headquarters' technology research and information construction project will be allocated 109.63 million yuan [2] - An additional 350 million yuan will be used to supplement working capital [2] Project Summaries - **Automotive Central Computing Platform and Intelligent Driving Domain Controller Capacity Expansion Project**: Total investment of 457.26 million yuan, with 386.91 million yuan from fundraising. This project aims to alleviate capacity bottlenecks and enhance product structure, improving competitiveness in the automotive electronics market [3] - **Base Construction (Phase II) and Automotive Electronic Products Capacity Expansion Project**: Total investment of 380.90 million yuan, with 299.90 million yuan from fundraising. This project focuses on expanding production capacity and efficiency to support the company's positioning as the "second-largest production base" in China [4] - **Automotive Electronic Products Capacity Expansion Project at Zhejiang Kobotada**: Total investment of 428.52 million yuan, with 344.30 million yuan from fundraising. The project aims to upgrade production conditions and expand market share while addressing capacity constraints [5] - **Headquarters Technology R&D and Information Construction Project**: Total investment of 184.85 million yuan, with 109.63 million yuan from fundraising. This project will enhance testing capabilities and improve operational efficiency through information technology [6]

Core Viewpoint - The company Kobotda plans to issue convertible bonds to raise up to 1.49 billion yuan for various expansion projects, marking its first refinancing initiative since its listing in 2019 [2] Group 1: Fundraising and Investment Plans - Kobotda intends to use the funds from the convertible bond issuance for capacity expansion projects related to automotive central computing platforms, intelligent driving domain control products, and other automotive electronic products [2][3] - The highest investment of 387 million yuan will be allocated to the automotive central computing platform and intelligent driving domain control product capacity expansion project [3] Group 2: Business Overview and Market Position - Kobotda is a leading player in the automotive electronics sector, focusing on the research, production, and sales of automotive lighting control systems, motor control systems, energy management systems, and in-vehicle electronics [2] - The company has successfully developed high-cost performance automotive central computing platforms and intelligent driving domain control products for several global mainstream automotive brands, with projected lifecycle sales exceeding 20 billion yuan for domestic projects [3] Group 3: Strategic Development and Competitive Advantage - By entering the central computing platform and intelligent driving domain control fields, Kobotda aims to enhance the value per vehicle and create synergies with existing products, providing comprehensive solutions from decentralized to centralized control [4] - The company’s strategic plan includes expanding its production base in Anhui, which is designated as the second-largest production base in China, to meet industry demands and enhance market competitiveness [4][5] - The expansion projects are aligned with national industrial policies and the company's strategic direction, promising good market prospects and economic benefits [5]

Group 1 - The company, Kobot, plans to issue convertible bonds to unspecified investors, with a total fundraising amount not exceeding 1.491 billion yuan [1] - The net proceeds from the fundraising, after deducting issuance costs, will be invested in several projects, including the expansion of production capacity for automotive central computing platforms and intelligent driving domain control products [1] - Additional investments will be made in the construction of the second phase of Kobot's automotive electronics base in Anhui, as well as the expansion of automotive electronics product capacity at Zhejiang Kobot Industrial Co., Ltd. [1] Group 2 - The funds will also support the headquarters' technology research and development and information technology construction projects of Kobot Technology Co., Ltd. [1] - A portion of the raised funds will be allocated to supplement working capital [1]

Core Viewpoint - The company plans to issue convertible bonds to raise a total of no more than 1.491 billion yuan, with the net proceeds intended for various expansion and development projects [1] Group 1: Fundraising and Investment Plans - The company intends to issue convertible bonds to unspecified investors, with a total fundraising amount not exceeding 1.491 billion yuan [1] - The net proceeds from the fundraising, after deducting issuance costs, will be invested in several key projects, including the expansion of production capacity for automotive central computing platforms and intelligent driving domain control products [1] - Additional investments will be made in the construction of the second phase of the automotive electronics base and the expansion of automotive electronics product capacity [1] Group 2: Specific Projects - The funds will also support the expansion of automotive electronics product capacity at Zhejiang Kebo Da Industrial Co., Ltd. [1] - Investment will be directed towards the headquarters' technology research and development and information technology construction projects [1] - A portion of the funds will be allocated to supplement working capital [1]

Core Viewpoint - The company plans to issue convertible bonds to raise up to 1.491 billion yuan for various expansion and development projects [1] Group 1: Fundraising and Projects - The company intends to issue convertible bonds to unspecified investors, aiming to raise no more than 1.491 billion yuan [1] - The raised funds will be allocated to the expansion of production capacity for automotive central computing platforms and intelligent driving domain control products at Kobot's Anhui subsidiary [1] - Additional projects include the second phase of the base construction for Kobot (Anhui) Automotive Electronics Co., Ltd., expansion of automotive electronic product capacity at Zhejiang Kobot Industrial Co., Ltd., and the headquarters' technology R&D and information construction projects [1] - A portion of the funds will also be used to supplement working capital [1]

Core Viewpoint - Kobotak (603786.SH) plans to issue convertible bonds to raise a total of up to 1.491 billion yuan, with the net proceeds intended for various expansion and development projects [1] Group 1: Fundraising and Investment Plans - The company intends to issue convertible bonds to unspecified investors, with a total fundraising amount not exceeding 1.491 billion yuan, including the full amount [1] - The net proceeds from the fundraising will be allocated to several projects, including the expansion of production capacity for automotive central computing platforms and intelligent driving domain control products at Kobotak Intelligent Technology (Anhui) Co., Ltd. [1] - Additional investments will be made in the second phase of the base construction and production capacity expansion for automotive electronic products at Kobotak (Anhui) Automotive Electronics Co., Ltd. [1] - The company will also invest in the expansion of automotive electronic product production capacity at Zhejiang Kobotak Industrial Co., Ltd. [1] - Funds will be directed towards the headquarters technology research and development and information technology construction project at Kobotak Technology Co., Ltd. [1] - A portion of the proceeds will be used to supplement working capital [1]