Core Business Challenges - The core business of the company, small magnetic ring coil winding services, faced significant challenges in 2024, with both volume and price declining due to market conditions [4] - The revenue from the network transformer winding business dropped sharply, despite efforts to maintain relationships with existing major clients through service optimization and quality improvement [4] - The inductance winding business, characterized by high customization and product diversity, progressed slowly, and despite increased investment in R&D and market expansion, the overall impact was limited [4] New Product Development - The company actively developed new products, such as transformer coil winding services for electric vehicle battery management systems, achieving small-scale production [4] - Efforts to co-develop customized inductance products with downstream clients were initiated to enhance competitiveness and market share, although the effectiveness of this strategy remains to be validated [4] Growth in New Energy Sector - Despite overall poor performance, the company's automation equipment business in the new energy and automotive electronics sectors showed promising results, with increased investment and a growing customer base [4] - The successful development of various automation equipment for the production of magnetic components in the new energy sector, such as fully automated assembly lines for photovoltaic inverter components, received high recognition from clients [4][5] Magnetic Component and Mechanical Parts Performance - The magnetic component finished goods business achieved scale production in 2024, particularly in common mode and differential mode inductors for consumer electronics, although its overall scale remains small and contributes limited revenue and profit [7] - The mechanical parts manufacturing business performed steadily, with optimized management leading to increased production capacity and significant growth in external orders, providing some support amid overall revenue decline [7] Overall Performance Summary - The company faced numerous challenges in 2024, with core business setbacks leading to declines in both revenue and profit, but progress in the new energy and automotive electronics automation equipment business offers new growth points for the future [6][7] - Addressing market competition and price pressure remains a critical issue for the company [7]

Core Viewpoint - The company is focused on providing automated winding services for small magnetic ring coils and has seen growth in its automation equipment for electronic components, particularly in the new energy vehicle sector. Group 1: Company Overview - The company specializes in automated winding equipment and services for small magnetic ring coils, primarily serving manufacturers of magnetic components for network transformers and inductors, with applications in telecommunications and consumer electronics [5]. - The company has expanded its product offerings to include automated production and assembly lines for electronic components, particularly in the new energy vehicle and photovoltaic inverter sectors [5]. Group 2: Business Performance - In 2024, the winding service for network transformers faced challenges due to market conditions, leading to a decline in both volume and price. The company is working to maintain stability by strengthening relationships with existing clients and enhancing product quality [6]. - The company has made progress in developing winding services for transformer coils used in battery management systems for electric vehicles, achieving small-scale production [7]. - The automation equipment segment has seen an increase in customer numbers, with successful development of equipment for new energy magnetic component production, receiving high recognition from clients [8]. Group 3: Financial Highlights - The company reported a profit distribution plan approved by the board, proposing a cash dividend of 2.00 yuan per 10 shares for all shareholders, based on a total of 55,250,000 shares [4]. - The company has not required any retrospective adjustments or restatements of previous financial data [10].