Core Viewpoint - Huapei Power, a leading company in the domestic sensor field, has won a significant contract from a top domestic new energy vehicle manufacturer, with an expected total value of approximately 100 million yuan over a five-year lifecycle starting in 2026, highlighting the company's R&D capabilities and market competitiveness [1] Group 1: Company Performance - In 2024, Huapei Power achieved revenue of 1.24 billion yuan, a year-on-year decline of 1.6%, and a net profit of 65.61 million yuan, down 43.47% year-on-year [1] - The company reported a net cash flow from operating activities of 257 million yuan, a significant increase of 2905.72% year-on-year [1] - In Q1 2025, the company faced continued pressure, with revenue of 276 million yuan, a year-on-year decrease of 19.2%, and a net profit of 14.42 million yuan, down 62% year-on-year [2] Group 2: Business Development - The company has successfully developed new projects for clients such as Scania, Mitsubishi Heavy Industries, and Knorr, enhancing its business growth momentum [2] - In 2024, Huapei Power won the entire order for the "Daimler Cup Project," expected to generate nearly 100 million yuan in sales, marking the largest single project sales in the company's history [2] - The sensor business is identified as Huapei Power's second growth curve, with successful mass production of a natural gas engine pressure and temperature sensor project for Bosch in Q2 2024 [3] Group 3: R&D Investment - Huapei Power has consistently invested in R&D, with expenditures increasing from 30.12 million yuan in 2020 to 74.91 million yuan in 2024, totaling approximately 280 million yuan over five years [3] - The company established a special team for the development of the third-generation PTC water heater, achieving significant breakthroughs and surpassing international competitors' patent barriers [3] - Huapei Power's subsidiary, Shengmei Chip, made important technological advancements in 2024, successfully completing the design and production of several automotive-grade MEMS products [3]

Group 1 - The 2025 Shanghai Auto Show, themed "Embrace Innovation, Win the Future," opened on April 23, featuring nearly a thousand global automotive manufacturers and supply chain companies from 26 countries and regions, marking the largest scale in history [1] - Many companies are set to launch new products and models at the auto show, with a focus on smart technology upgrades, indicating a shift of supply chain enterprises from the background to the forefront [1] Group 2 - Huapei Power, a representative automotive parts company, showcased its products alongside its sister company Huajian New Energy at the Shanghai Auto Show, presenting nearly a hundred exhibits including components for powertrains and sensors [2] - Huapei Power held a product launch event on the first day of the auto show, introducing its self-developed third-generation PTC water heater, which boasts a 15% reduction in size, a 10% performance improvement, and a 15% cost reduction compared to similar products [4][5] - Established in 2006, Huapei Power is an innovation-driven diversified industrial group involved in the research and production of various automotive components and sensors, exporting products to North America and Europe [7]