Core Viewpoint - Xuelong Group has demonstrated steady growth in its financial performance for Q1 2025, driven by strategic initiatives and market trends in the commercial vehicle sector [1][2]. Financial Performance - In Q1 2025, Xuelong Group achieved revenue of 104 million yuan, representing a year-on-year increase of 2.60% - The net profit attributable to shareholders, excluding non-recurring gains and losses, was 15.8733 million yuan, up 12.39% year-on-year [1]. Strategic Initiatives - The company is actively advancing the construction of the Beilun new base project and expanding its presence in the new energy sector through external investments [1]. - Xuelong Group has established a dedicated R&D team focused on technological breakthroughs in high-pressure motors and control systems for cooling fans used in new energy commercial vehicles [2]. Market Trends and Opportunities - The full implementation of the National VI emission standards is expected to accelerate technological upgrades in commercial vehicles, increasing demand for energy-saving components like the electric fan assembly [2]. - Each new energy electric heavy truck typically requires 4 to 9 electric fan assemblies, while electric light trucks require 2, indicating a significant market potential for Xuelong Group's products [2]. International Expansion - The company plans to enhance its overseas market research efforts and steadily advance its international strategy to identify new revenue streams [3]. - Xuelong Group aims to extend its industrial layout through external investments, seeking breakthroughs in the precise extension of its supply chain [3]. Competitive Position - Xuelong Group possesses certain technological barriers within the industry, and the ongoing development of the new energy commercial vehicle market presents substantial opportunities for market share expansion [3].

Core Viewpoint - The implementation of the National VI emission standards is driving technological upgrades in commercial vehicles, leading to sustained demand for the company's electric control silicone oil clutch fan assembly as a key component for energy conservation and emission reduction [1] Industry Policy - The National VI emission standards are promoting technological upgrades in commercial vehicles, which will benefit the company's product offerings [1] New Energy Commercial Vehicle Development - The new energy commercial vehicle market is experiencing rapid growth, with the company's electric fan assembly being a core component that has significant market potential and increased per-vehicle value [1] - The company has developed a low-voltage electric fan assembly for new energy commercial vehicles, which is now capable of mass production and competes with foreign products [1] - For new energy electric heavy trucks, each vehicle typically requires 4 to 9 electric fan assemblies, which is 2-4 times the per-vehicle value compared to traditional fuel heavy trucks [1] - New energy electric light trucks require an average of 2 electric fan assemblies, also representing a 2-4 times increase in per-vehicle value compared to traditional fuel light trucks [1] Market Development - The company plans to enhance overseas market research efforts and steadily advance its international strategy to seek new performance growth [1] Operational Management - The company will focus on product quality, efficiency improvement, and energy conservation to enhance its core competitiveness [1] - Continuous development will be supported by systematic construction, benchmarking management, and cost reduction to stimulate growth [1] Industrial Layout - The company is actively promoting the construction of the Beilun new base project in line with its strategic planning [1] - The company aims to expand its new energy industry development space through external investments and will increase efforts in researching and selecting acquisition projects [1] - Enhanced research quality will be achieved through on-site investigations, multiple rounds of research, and multi-channel assessments to support decision-making [1] - The company will strengthen the formulation and implementation of preliminary construction plans to achieve breakthroughs in project implementation and precise extension of the industrial chain [1]