Group 1 - The core viewpoint of the news is that Tongwei Investment has conducted research on a listed company, Deep Tech, which is experiencing positive order growth in various sectors, including flat panel display module production equipment and semiconductor packaging and testing equipment [1] - Deep Tech reported a high capacity utilization rate and an improvement in orders for semiconductor packaging and testing equipment, accumulating significant orders from quality clients such as China Resources Microelectronics and Tongfu Microelectronics, with orders exceeding tens of millions this year [1] - The company anticipates substantial growth in the smart glasses market, having started to develop related equipment since 2022, leading to a rapid increase in orders [1] Group 2 - Deep Tech aims to consolidate its market position, expand into overseas markets, enhance product performance, and optimize cost control and operational efficiency, with a goal to achieve profitability by 2025 [1]

Financial Performance - In Q1 2025, the company achieved sales revenue of 1.244 billion CNY, a year-on-year increase of 24.03% [6] - Net profit attributable to the parent company was 12.6299 million CNY, up 93.43% year-on-year [6] - Net profit after deducting non-recurring gains and losses was 4.1674 million CNY, an increase of 132.2% [6] - Operating cash flow net amount was 47.5225 million CNY, growing by 112.95% [6] - Total expense ratio was 28.33%, down 5.14 percentage points year-on-year [6] Market Outlook - The industrial automation market demand is recovering, with strong growth in automotive, electronics, and lithium battery sectors [7] - The company anticipates significant growth potential in the industrial robot market for 2025 [7] Strategic Development Plans - The company aims to achieve operational improvement and profitability by focusing on global layout, strategic focus, technological breakthroughs, and operational efficiency [8] - Plans include optimizing the marketing system, enhancing R&D investment, expanding global business, and improving internal management [8][9] R&D and Product Development - The company is increasing R&D resources in high-barrier industrial robot applications to enhance product competitiveness [10] - Focus on developing automation core components and industrial robot products for emerging industries [8][10] Profit Margin Improvement - The company plans to strengthen sales price control and focus resources on high-quality orders to stabilize profit margins [11] - Strategies include optimizing the supply chain and enhancing local material substitution [11] Global Expansion - The company will continue to expand into Europe, America, the Middle East, and Southeast Asia, targeting leading domestic clients in the new energy vehicle and lithium battery sectors [12] - Plans to establish a global production base in Poland and optimize the cost structure of overseas subsidiaries [12][13] Intelligent Technology Development - The company is investing in "artificial intelligence + robotics" to enhance autonomous perception and learning capabilities of industrial robots [14] - Development of humanoid robots with a focus on factory production lines and logistics applications [14] Trade Impact Assessment - The company assesses that the impact of U.S. tariffs is limited due to the small proportion of revenue from U.S. operations and prior global production base planning [15]

Core Viewpoint - Deep Science and Technology (深科达) announced the acquisition of 16.92% equity in its subsidiary Shenzhen Line Horse Technology Co., Ltd. for 47.376 million RMB, aiming to enhance management efficiency and competitiveness [1][2]. Group 1: Acquisition Details - The acquisition price is set at 47.376 million RMB, to be paid in four installments, resulting in Deep Science holding 80.92% of Line Horse Technology post-acquisition [1]. - The transaction is classified as a related party transaction but does not qualify as a major asset restructuring under relevant regulations [1]. Group 2: Company Background and Performance - Shenzhen Line Horse Technology was established on July 13, 2015, focusing on precision linear motors and related automation equipment [1]. - In Q1 2024, Line Horse Technology reported revenues of 29.576 million RMB and a net profit of 5.5321 million RMB [1]. - Deep Science and Technology, founded in 2004 and listed on the Sci-Tech Innovation Board in 2021, specializes in 3C panel intelligent equipment and semiconductor packaging testing equipment [2]. Group 3: Financial Performance - In 2024, Deep Science reported total revenue of 509 million RMB, a decline of 8.82% year-on-year, with a net loss of 106 million RMB [2]. - The company experienced net losses of 35.84 million RMB in 2022 and 116 million RMB in 2023 [2]. - Accounts receivable for Deep Science from 2022 to 2024 were 466 million RMB, 399 million RMB, and 409 million RMB, representing approximately 79%, 71%, and 80% of total revenue, respectively [2]. Group 4: Performance Commitments - The acquisition includes performance commitments with net profit targets of 20.5 million RMB, 21.8 million RMB, and 23.7 million RMB for the years 2025, 2026, and 2027, respectively, totaling a minimum of 66 million RMB over three years [2]. Group 5: Market Reaction - Following the acquisition announcement, Deep Science's stock price increased by 15.65%, reaching 17.51 RMB per share during midday trading [4].