Core Viewpoint - The company is focusing on both general lighting and automotive lighting as its primary growth drivers, with strategic investments in R&D and production capacity to enhance its market position and address potential tariff impacts from the U.S. [1][2] Group 1: Business Strategy - The company positions general lighting and automotive lighting as its first and second growth curves, respectively, aiming to solidify its leadership in general lighting while developing automotive lighting capabilities [1] - In the automotive sector, the company emphasizes "safety + electrification/intelligence" in its R&D focus, with a complete software and hardware development team [1][2] Group 2: R&D and Product Development - R&D investments in general lighting are concentrated on "intelligence + environmental protection + cost optimization," leveraging synergies between automotive and general lighting businesses [2] - The company has secured over 1 billion RMB in new project designations for automotive lighting in 2024, with additional projects in Q1 2025, covering various product categories [3] Group 3: Tariff Impact and Market Response - The company's U.S. business accounts for approximately 20% of its operations, and it has proactively established production capacity in Vietnam and Indonesia to mitigate tariff risks [2] - The impact of tariffs on the automotive business is limited, as the proportion of products exported to the U.S. is small, and the company is accelerating domestic substitution efforts [2]

Core Viewpoint - The company has proactively expanded its production capacity in Vietnam and Indonesia in response to uncertainties surrounding U.S. tariff policies, and has recently received shipping demands from customers in China due to progress in U.S.-China tariff negotiations [1] Group 1: Company Strategy - The company has laid out production capacity in overseas locations such as Vietnam and Indonesia, which are now operational [1] - The company has seen robust production and sales at its existing overseas bases [1] Group 2: Market Developments - Recent substantial progress in U.S.-China tariff negotiations has led to the company receiving shipping demands from customers in China [1] - The company has added multiple new projects in the first quarter of this year, with a diverse range of product categories including vehicle lamp controllers, vehicle lamp light modules, vehicle lamp injection molded parts, and other vehicle control components and assemblies [1]