Group 1: Multi-in-One Technology Development - Multi-in-one technology includes two main types: integration within the power sector (e.g., vehicle power supply and EVCC) and integration between power and drive components (e.g., vehicle power supply and electronic control) [1] - This technology offers advantages in product size and cost, aligning with the trends of integration and intelligence in new energy vehicles [1] - The company plans to achieve mass production of integrated vehicle power supply products and motor controllers by 2025 through collaboration with OEMs [1] Group 2: High Voltage Product Sales and Value Enhancement - Currently, 400V voltage platform products dominate the company's mass production projects, while some 800V vehicle power supply systems have also been mass-produced [1] - 800V products typically have a higher unit value, influenced by project technical requirements and production processes [1] - The promotion speed of high voltage platform products is linked to technological maturity and the development of fast-charging infrastructure, with expectations for an increasing share of high voltage products in the future [1] Group 3: Gross Margin Fluctuations - The company's overall gross margin remained stable in 2024, with quarterly fluctuations attributed to customer reductions, supply chain cost reductions, and the timing of technical cost reduction measures [2] - Future strategies include optimizing technology and innovation, building platforms to effectively lower raw material and production costs, and enhancing supply chain management to improve profitability [2] Group 4: Customer Penetration and Business Expansion - The company has strengthened relationships with existing customers and established projects with several automotive clients, including XPeng Motors and Xiaomi Motors, with mass production already achieved for some projects [2] - Projects with Changan Automobile and Leap Motor are expected to reach mass production by 2025, contributing to sustained growth in domestic business [2] - Non-automotive business development is progressing cautiously, with a focus on evaluating market maturity and company advantages before making investments [2]

Financial Performance - The company achieved operating revenue of 1.933 billion, a year-on-year increase of 5.38% [7] - The net profit attributable to shareholders was 94.6 million, showing a slight decline compared to the previous year [7] - The total assets and net assets attributable to shareholders experienced significant growth [7] Market Expansion - In 2024, the revenue from exported vehicle-mounted products increased to 6.8% of total revenue, indicating progress in international market development [2] - The company successfully secured projects with leading global automotive brands, contributing to future revenue growth [5] - The global sales of new energy vehicles reached 18.236 million units in 2024, a year-on-year growth of 24.4% [5] Research and Development - The R&D investment for 2024 was 200 million, accounting for 10.35% of operating revenue, with a capitalization rate of 0% [2] - The R&D team expanded to 813 members, covering various key functions to enhance innovation capabilities [7] - The company maintains a high level of R&D investment to support long-term development and ensure product performance remains industry-leading [3] Accounts Receivable - The accounts receivable and notes receivable increased by 136.22% compared to the previous year, with a 13.41 percentage point rise in their proportion of total assets [7] - The increase in accounts receivable is primarily due to high sales in the fourth quarter, with good quality of receivables from major clients [7] Strategic Outlook - The company plans to strengthen its domestic market while leveraging its brand advantages to explore international clients [2] - Future gross margin levels are expected to be influenced by customer pricing and supply chain cost reduction measures [4] - The company aims to enhance its market share in the global high-voltage power supply systems for new energy vehicles [2]

来源：华龙网 智能网联 汽车技术创新论坛。受访者供图 作为西南地区专业的汽车技术行业盛会，本届展会以"启新潮、驭未来"为主题，汇聚全球500家领军企 业及产业组团，展览面积达30000平方米，首日即吸引近万名专业观众参与，共同激发中国智能汽车产 业创新力量的澎湃动能，助力重庆打造智能网联新能源汽车之都。 据了解，本届展会是中国汽车工业协会为进一步推动西部汽车产业革新和转型升级而打造的专业技术交 流平台，围绕"智能网联汽车、新能源汽车、充换电设备、汽车用钢及轻量化材料、智能智造"等热门主 题设置展区，邀请了国内外知名汽车主机厂、零部件企业、材料企业、产业园区及相关技术企业参展， 彰显产业新生态和区域优势，促进供应链产需合作精准对接，全力驱动川渝汽车全产业链融合创新发 展。 展会吸引了宝山钢铁股份、鞍钢集团、青山工业、北斗星通汽车电子、华江科技、五菱新能源汽车、天 津京清汽车产业园等重点企业及政府产业园齐齐亮相，展示创新产品与新技术。 记者在现场看到，东芝在一辆模型车上，全面呈现半导体的集成汽车解决方案，如电动助力转向EPS、 车载HVAC、以太网音频、USBtype-C充电、悬架和LED大灯等；北京华卫睿泰电子 ...