Group 1: Investor Relations Activity - The company held an earnings briefing on May 14, 2025, via an online platform [3] - Key participants included the Chairman Zhao Jun and CFO Li Shijie [3] Group 2: Product and Market Insights - The main products are glue dispensing control systems, general motion controllers, and servo drivers, primarily serving the consumer electronics sector [4][15] - The company does not currently have plans to expand into humanoid robotics or directly into overseas markets [5][14] Group 3: Financial Performance - In 2024, revenue from glue dispensing control systems was CNY 48.68 million, a decrease of 9.68% year-on-year [15] - General motion controller revenue increased by 21.55% to CNY 10.69 million, with a sales volume growth of 31.7% [15] - Servo driver revenue rose by 40.68% to CNY 8.27 million, attributed to increased sales alongside glue dispensing systems [15] Group 4: R&D and Future Plans - The company plans to enhance R&D in intelligent motion control systems, focusing on high-speed and high-precision applications [7][9] - Key R&D areas include glue dispensing technology for irregular shapes and semiconductor processing [9][10] - The company aims to improve product quality and iteration frequency through standardized software and hardware interfaces [13] Group 5: Challenges and Strategies - The company faces challenges in expanding overseas and plans to support domestic EMS manufacturers in their international operations [5][14] - Strategies to mitigate market risks include enhancing product differentiation and improving customer credit assessments [23] Group 6: Shareholder Returns and Dividends - The company plans to continue cash dividends, proposing CNY 2.00 per share for 2024, alongside a capital increase of 4 shares for every 10 held [26][27] - In 2023, the company distributed CNY 14.48 million in cash dividends [26] Group 7: Intellectual Property and Innovation - In 2024, the company applied for 6 new patents, totaling 37 invention patents and 55 software copyrights by year-end [31]

Group 1 - The company conducted a video live-streaming event to interact with investors, presenting a comprehensive overview of its business performance and strategic planning through a detailed earnings presentation [2] - The event included a Q&A session where the company addressed key research and development directions, emphasizing investments in adhesive control systems, general motion controllers, and servo drives [5] - The company is committed to ongoing cash dividends, encouraging stock purchases by executives, and implementing an equity incentive plan to enhance market value management [5] Group 2 - The company is focusing on expanding its market share in adhesive control systems by investing in processing technologies for semiconductor applications [5] - The motion controller segment is being enhanced for high-speed and high-precision applications, with plans to develop new embedded motion controller products [5] - A new generation of hardware platforms for servo drives is being introduced, which will integrate with motion controllers to improve compatibility with electronic manufacturing equipment [5]

Industry Overview - The general motion control (GMC) industry in China is experiencing a significant transformation towards high-end and intelligent manufacturing, leading to increased demand for motion control technology [1][13] - The market size of the general motion control industry in China is projected to reach 28.233 billion yuan in 2024, representing a year-on-year growth of 11.76% [1][13] - High-performance, multi-axis synchronous, and intelligent motion control systems are becoming mainstream, aligning closely with the core needs of manufacturing upgrades [1][13] Industry Development History - The development of the general motion control industry in China has gone through five stages, starting from the introduction of automation technology in the late 20th century to the current phase of deep integration with emerging technologies like AI and IoT [4][5][6] - The initial stage (1990s to 2001) saw reliance on imported technology, while the period from 2001 to 2005 marked the emergence of domestic brands like GSK Technology, which broke foreign monopolies [4][5] - The rapid development phase (2005 to 2014) was characterized by increased R&D investment and improvements in product performance, allowing domestic companies to enter mid-to-high-end markets [5][6] Industry Chain - The upstream of the general motion control industry includes raw materials, core components, and production equipment, while the midstream focuses on manufacturing motion control products [8][9] - The downstream consists of industries such as industrial robots, machine tools, semiconductors, and packaging machinery, which are the primary customers for motion controllers [8][9] Market Size - The demand for general motion control technology is significantly driven by the acceleration of China's manufacturing sector towards high-end and intelligent solutions [1][13] - The integration of new sensors, actuators, and control chips enhances control precision and response efficiency, facilitating the transition from traditional dedicated controllers to open and reconfigurable controllers [1][13] Key Companies' Performance - The market is currently characterized by a "three-legged" competition among domestic and foreign brands, with companies like Inovance Technology and GSK Technology making significant strides in the mid-to-high-end market [15][20] - GSK Technology reported a revenue of 251 million yuan in 2023 for its core control components, while Inovance Technology achieved a market share of 28% in the servo system market by 2024 [15][20] Industry Development Trends - The future of the general motion control industry in China is expected to focus on high performance, multi-axis synchronization, and intelligent adaptive control, driven by the push for smart manufacturing and Industry 4.0 [22] - The application of motion control technology is expanding beyond traditional sectors to include new energy vehicles, medical devices, and smart home technologies [23][24] - Domestic brands are projected to capture over 70% of the market share, with an accelerated pace of domestic substitution and intensified competition against foreign brands [25]

证券简称：乐创技术 证券代码：430425 成都高新区科园南二路一号大一孵化园 8 栋 B 座 成都乐创自动化技术股份有限公司 成都乐创自动化技术股份有限公司招股说明书 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证 券交易所主要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风 险高等特点，投资者面临较大的市场风险。投资者应充分了解北京证券交易所市场的 投资风险及本公司所披露的风险因素，审慎作出投资决定。 保荐人（主承销商） （四川省成都市东城根上街 95 号） 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表 明其对注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不 表明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或 者保证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由 发行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自 行承担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资 风险。 1-1-1 声明 发行人及全体董事、监事、高级管理人 ...

证券简称：乐创技术 证券代码：430425 成都乐创自动化技术股份有限公司 成都高新区科园南二路一号大一孵化园 8 栋 B 座 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由 发行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自 行承担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资 风险。 1-1-1 成都乐创自动化技术股份有限公司招股说明书（注册稿） 保荐人（主承销商） （四川省成都市东城根上街 95 号） 0 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表 明其对注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不 表明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或 者保证。任何与之相反的声明均属虚假不实陈述。 声明 发行人及全体董事、监事、高级管理人员承诺招股说明书及其他信息披露 资料不存在虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整 性承担连带责任。 发行人控股股东、实际控制人承诺招股说明书不存在虚假记载、误导性陈 述或重大遗漏，并对其真实性、准确性、完整性承担连带责任。 公司负责人和主管会计 ...