Core Viewpoint - The integration of smart technology with outdoor exploration is leading to a revolution in outdoor equipment, exemplified by the launch of the second-generation lower limb exoskeleton by the company in December 2025, marking a new phase in its "outdoor + chip" dual business strategy [1] Group 1: Product Development and Technology - The second-generation exoskeleton features significant upgrades in technology, functionality, and scene adaptability, establishing itself as a benchmark in the outdoor smart equipment sector [2] - The product utilizes high-strength carbon fiber materials for lightweight advantages and collaborates with emerging equipment companies to optimize motor size and weight, making it more accessible to the consumer market [2] - The upgraded smart control system incorporates multi-modal sensor systems and intelligent motion control algorithms, enhancing user experience by accurately recognizing various movement states and reducing user fatigue by up to 30 kilograms [3] Group 2: Market Strategy and Distribution - The company has established a comprehensive channel layout, with the second-generation exoskeleton available in key offline stores and online platforms for pre-sale, enhancing consumer accessibility [4] - The product is also being promoted in scenic areas through a rental model, improving service quality and providing real-world data for continuous product iteration [4] Group 3: Industry Leadership and Market Position - The company is reshaping the competitive landscape of China's outdoor technology market by filling the gap in the consumer-grade outdoor exoskeleton market and leading the industry into a new era of smart equipment [5] - The strategic focus on mass outdoor consumer needs, combined with technological optimization and supply chain integration, has opened a new market for consumer-grade exoskeletons [5] Group 4: Chip Technology and Ecosystem - The company's investment in chip technology is crucial for its smart exoskeleton advancements, including a significant acquisition of stakes in leading chip companies to support its outdoor smart equipment [7] - The technical advantages of the acquired companies align well with outdoor equipment needs, enhancing the performance and adaptability of smart devices in challenging environments [8][9] - The company is evolving from a traditional outdoor brand to a technology group that integrates chip technology with outdoor applications, positioning itself for long-term growth in the industry [9][10]