Core Viewpoint - The company plans to issue convertible bonds to raise up to 1.8 billion yuan for the construction of its smart manufacturing core components project (Phase II) and to supplement working capital and repay bank loans [1][2] Group 1: Project Details - Over 70% of the raised funds will be allocated to the smart manufacturing project, which has a total investment of 1.307 billion yuan, with 1.3 billion yuan coming from the raised funds [1] - The completion and production of the smart manufacturing core components project will enhance the company's production capacity for precision reducers and joint reducers, improving its smart manufacturing level and profitability [1][2] Group 2: Market Insights - Experts believe that the project will improve production efficiency, reduce labor costs, and enhance product quality stability, thereby increasing the company's competitiveness in the market [1] - The rapid development of the new energy vehicle and robotics sectors presents a broad market outlook, and if the company can surpass its peers in core technologies, it may gain a competitive edge in future markets [1][2] Group 3: Financial Performance - The company achieved a record high in operating performance in 2024, with total revenue of 2.36 billion yuan, a year-on-year increase of 21.29%, and a net profit attributable to shareholders of 322 million yuan, up 76.87% [3] - In the first three quarters of this year, the company continued its growth trend, with revenues and net profits of 1.895 billion yuan and 266 million yuan, respectively, representing year-on-year increases of 12.25% and 9.11% [3]