Group 1: Automotive Business Overview - The company focuses on high-strength precision fasteners and special connectors, primarily used in automotive engine turbocharging systems, shifting control systems, exhaust systems, and key components in electric vehicles [2] - The automotive business revenue has been growing year-on-year, driven by factors such as new customer development and product category expansion [3][4] Group 2: Commercial Aerospace Business Progress - The company has completed production line construction for commercial rocket structural components in 2024, with major clients including Blue Arrow Aerospace and Tianbing Technology [3] - The annual production capacity for commercial aerospace is estimated at 10 rockets, with a high utilization rate of existing capacity [4] Group 3: Human-shaped Robot Business Development - The company is actively developing humanoid robot components, having received small batch orders from several clients, although large-scale orders are not yet realized [3] Group 4: Financial Performance and Challenges - The company's gross margin has declined due to factors such as the slowdown in the automotive industry and rising material costs since late 2021 [4] - The new Wuxi Chaojie project has started production in 2023, with expectations for profitability in 2024 [4] Group 5: Future Prospects in Commercial Aerospace - The estimated value of structural components for a single commercial rocket is around 15 million, with potential increases to 25-30 million after the completion of the fuel tank production line [4] - The company is preparing for the future trend of reusable rockets, although current domestic technology is not yet mature [4]

Group 1: Business Progress in Commercial Aerospace - The company has made significant progress in its commercial aerospace business, focusing on the manufacturing of structural components for commercial rockets, including shell segments, fairings, and engine valves. The production line was completed in 2024, and the company has already delivered structural components in bulk to customers [2]. - The estimated value of structural components for a single commercial rocket is approximately $15 million, with the potential to increase to $25-30 million after the completion of the fuel tank production line [2]. Group 2: Competitive Advantages - The company possesses a talent advantage with a dedicated team in the commercial aerospace sector, including experienced technical, manufacturing, and business personnel [3]. - Financial advantages allow the company to leverage its public listing to invest in equipment purchases and production line construction based on market conditions [3]. Group 3: Product Development - The company is actively developing aerospace fastener products, leveraging its extensive technical experience in the automotive fastener sector, with some products already delivered to customers [3]. Group 4: Investor Relations and Communication - During the investor relations activity, the company ensured thorough communication with investors and adhered to its information disclosure management system, guaranteeing the accuracy and completeness of disclosed information without any major undisclosed information leaks [3].