Core Viewpoint - The company, Songzhi Co., Ltd. (002454), specializes in the research, development, production, and sales of mobile thermal management solutions, catering to various automotive and industrial applications [1] Group 1: Company Overview - Songzhi Co., Ltd. focuses on mobile thermal management, producing products for large and medium-sized buses, passenger vehicles, refrigeration units, automotive air conditioning compressors, commercial vehicles (heavy trucks, engineering machinery), and liquid-cooled energy storage battery thermal management systems [1] - The company customizes thermal management products based on the orders from original equipment manufacturers (OEMs) or complete vehicle customers [1]

Group 1 - The company, Songzhi Co., Ltd. (002454.SZ), specializes in the research, production, and sales of mobile thermal management systems [1] - The product range includes thermal management for large and medium-sized buses, passenger vehicles, refrigeration units, automotive air conditioning compressors, thermal management systems for commercial vehicles (heavy trucks, engineering machinery), and liquid cooling battery thermal management systems for energy storage [1] - The company currently lacks the technical reserves and commercial products related to nuclear power cooling equipment, and has not yet applied its technology to this specific segment [1]

Group 1: Financial Performance - The gross margin of the passenger vehicle thermal management segment decreased by 0.09 percentage points in 2024 compared to the previous year, remaining stable [1] - The company's overseas revenue for 2024 was approximately 282 million CNY, accounting for 5.63% of total revenue [3] Group 2: Business Strategy - The company focuses on upgrading products and optimizing customer structure to enhance market share and industry position [4] - The company plans to establish a wholly-owned overseas subsidiary to improve international competitiveness and meet overseas customer demands [3] Group 3: Product Development - The company is a key supplier of thermal management products for high-end models, utilizing advanced technologies such as four-zone dual-layer flow [2] - In the battery thermal management segment, the company has upgraded systems for commercial vehicles and liquid-cooled energy storage power stations [5] Group 4: Customer Engagement - The company has successfully entered the customer systems of various domestic and foreign brands, including major players in the electric vehicle market [6] - The company is actively engaging with strategic customers and exploring opportunities in the global market to expand its customer base [6]