Core Viewpoint - The automotive parts giant Berteli is expanding into embodied intelligence and low-altitude economy, with a focus on humanoid robots and related core components [1][3]. Financial Performance - In the first half of the year, Berteli achieved revenue of 5.164 billion, a year-on-year increase of 30.0%, and a net profit attributable to shareholders of 522 million, up 14.2% [3]. - However, the second quarter saw a significant decline in growth, with revenue of 2.526 billion, a quarter-on-quarter decrease of 4.2%, and a net profit of 252 million, down 6.8% [3]. - The gross profit margin for the first half of the year was 18.56%, down from 22.14% in the same period over the past three years [3][4]. Future Growth Prospects - The company anticipates continued revenue growth in the second half of the year based on customer demand plans [3]. - Berteli's gross profit margin is expected to improve as the number of project orders increases and the proportion of smart electronic control products rises [4]. - In the second quarter, Berteli added 162 new projects, a year-on-year increase of 80.0%, with expected annualized revenue of 4.18 billion from these projects [5]. Technological Advancements - The automotive industry is transitioning from electrification to intelligence, with a focus on high-level autonomous driving requiring redundancy in braking and steering systems [6]. - Berteli is advancing in the development of Electronic Mechanical Braking (EMB) systems, which are seen as a future direction for line control braking [6][7]. - The company is also working on integrated chassis systems that combine braking, steering, and suspension, which are expected to provide competitive advantages [7]. Investment and Market Position - Berteli has established a fund for investing in humanoid robots and low-altitude economy sectors, with the fund already registered with the China Securities Investment Fund Association [7]. - Despite recent stock performance concerns from investors, the company believes its value is underestimated, with a closing stock price of 51 yuan and a market capitalization of 30.93 billion [7].