Core Viewpoint - The company, Jingsheng Electromechanical, emphasizes its commitment to domestic core component localization and continuous enhancement of its manufacturing capabilities, aiming to improve product quality and expand its market presence in the semiconductor industry [2] Group 1: Company Strategy - The subsidiary, Jinghong Precision, focuses on the localization of core components, enhancing precision processing, special welding, assembly testing, and semiconductor-level surface treatment capabilities [2] - The company is dedicated to strengthening research and development efforts and industrialization of key components, leading to a continuous improvement in product quality and an increasing variety of products [2] Group 2: Market Expansion - The company aims to enhance market expansion for component products by focusing on customer needs and providing integrated solutions in research, manufacturing, and service [2] - The company is actively expanding its customer base for a series of high-precision components, including vacuum chambers, precision drive spindles, planetary gears, ceramic discs, and others, driving continuous market scale growth [2]

Core Viewpoint - Jing Sheng Mechanical and Electrical has a strong order book primarily from leading downstream clients, with good payment performance and risk management practices in place [2][3] Group 1: Financial Performance - In 2024, the company achieved operating revenue of 17.577 billion yuan and a net profit attributable to shareholders of 2.51 billion yuan [2] - The company is accelerating the domestic substitution process for semiconductor equipment, successfully developing multiple 12-inch devices in the integrated circuit equipment sector [2] Group 2: Product Development and Market Position - The company has made technological breakthroughs and mass production in compound semiconductor equipment, including 8-inch silicon carbide epitaxy equipment and ion implanters [2] - In the photovoltaic equipment sector, innovative products aimed at improving efficiency and reducing costs have been launched, further strengthening market competitiveness [2] Group 3: Material Production and Market Expansion - The company is rapidly increasing the production capacity of 8-inch conductive silicon carbide substrates, achieving significant market expansion [2] - Sales of sapphire materials have seen rapid growth year-on-year due to the recovery in consumer electronics, with successful mass production of 1,000 kg oversized crystals [2] Group 4: Client Relationships and Strategic Direction - Major clients include well-known listed companies such as TCL Zhonghuan, Changdian Technology, and Silan Microelectronics, with long-term strategic cooperation maintained [3] - The company will adhere to the development strategy of "advanced materials, advanced equipment" and deepen the collaborative layout of the semiconductor industry chain, aiming to become a global leader in semiconductor equipment, materials, and services [3]