Core Viewpoint - West Securities conducted a survey on the listed company Ruide Intelligent, which is expected to achieve significant revenue growth in the automotive electronics sector in 2024, with a projected revenue of 99.82 million yuan, representing a year-on-year increase of 503.21% [1] Group 1: Company Performance - In 2024, Ruide Intelligent is anticipated to achieve a revenue of 99.82 million yuan, marking a substantial year-on-year growth of 503.21% [1] - The company has successfully mass-produced smart controllers for balance bikes and scooters, gaining market recognition [1] - The company’s R&D investment for 2024 is projected to reach 82.82 million yuan, reflecting a year-on-year increase of 9.01% [1] Group 2: Market Strategy - Ruide Intelligent has established dual bases in South China and East China, and is expanding its global market presence with a focus on Vietnam [1] - The company currently operates four R&D and production bases located in Shunde, Anhui, Shaoxing, and Dong Nai, Vietnam [1] - The establishment of the Vietnam production base aims to mitigate potential risks arising from tariff policies [1] Group 3: Supply Chain and Resource Management - The company has achieved a high level of domestic chip procurement, with most chips being replaced by domestic alternatives [1] - The custom chip "Ruide Chip" has been successfully applied to smart controller products [1] - Inventory growth in the first quarter was attributed to pre-holiday stockpiling by customers and proactive reserves due to rising raw material prices [1]

Group 1 - The core viewpoint of the article highlights that 瑞德智能 (RuiDe Intelligent) has made significant progress in the automotive electronics sector, achieving a revenue of 99.82 million yuan in 2024, representing a year-on-year growth of 503.21% [1] - The company has successfully mass-produced smart controllers for balance bikes and scooters, gaining market recognition [1] - 瑞德智能 has established dual bases in South China and East China, and is expanding its global market with a focus on the production base in Dong Nai, Vietnam, creating a dual circulation development pattern [1] Group 2 - In 2024, the company's R&D investment reached 82.82 million yuan, an increase of 9.01% year-on-year, with plans to continue increasing R&D spending [1] - The company is experiencing temporary profit pressure due to strategic resource investments, including high R&D expenditures and the recruitment of senior management talent, which are expected to drive performance improvements in the medium to long term [1] - The majority of the chips sourced are now domestically produced, and the custom chip "瑞德芯" has been applied to smart controller products [1] Group 3 - The increase in inventory during the first quarter was attributed to customers stocking up in advance due to the Spring Festival holiday and proactive reserves of raw materials in response to rising prices [1]