Group 1 - The company, 康斯特, emphasizes a stable development style focusing on technology accumulation and product strength [1] - The main business will continue to deepen in the high-end instrument market, aiming to increase international market share [1] - High-end pressure sensors and digital platform business are identified as the second growth curve, enhancing overall market space [1]

Group 1 - The company announced on September 23 that its high-end pressure sensors utilize silicon piezoresistive technology, with comprehensive indicators better than 0.01% F.S [1] - The company is currently implementing domestic production in phases as planned, and will advance chip autonomy based on the mass production progress of the sensors [1]

Group 1: Business Overview - The company's main products are calibration instruments used in industries such as petrochemicals and power generation, serving clients like medium to large enterprises and third-party testing agencies [1] - The product lifecycle is generally 5 to 8 years, with actual replacement cycles depending on usage frequency [2] Group 2: Market Demand and Pricing - Demand varies by industry; process industries like power and petrochemicals have higher procurement needs, while small enterprises often opt for outsourcing calibration services due to cost considerations [1] - Manual instruments are priced between 10,000 to 20,000 yuan, while fully automated and smart products average around 150,000 yuan, reflecting differences in functionality and technology complexity [3] Group 3: International Operations - The Singapore subsidiary focuses on expanding non-US market operations and handling product certification, mitigating the impact of US tariffs [4] - The US tariff rate has increased from 25% to 55%, causing short-term order disruptions; the company is addressing this through price adjustments and shifting non-US orders to the Singapore subsidiary [5] Group 4: Financial Performance - High-margin portable products dominate international sales, with better payment terms compared to domestic sales; the revenue distribution is approximately 54% from the Americas, 30% from Europe and the Middle East, and 16% from Asia and Oceania [6] Group 5: Competitive Landscape - Major competitors include Fluke, Druck, and Wika; the company differentiates itself by addressing customer pain points, rapid product iteration, and high production efficiency, focusing on technical solutions rather than price competition [7] Group 6: Long-term Strategy - The company adopts a conservative growth strategy, emphasizing technology accumulation and product strength, with plans to deepen its presence in the high-end instrument market and develop high-end pressure sensors and digital platforms as a second growth curve [8] Group 7: Digital and Sensor Development - The digital platform, primarily managed by the subsidiary Mingde Software, currently contributes about 5% to 6% of total revenue, offering smart metering solutions that enhance customer loyalty [9] - The company is advancing the development of high-end pressure sensors using silicon piezoresistive technology, aiming for domestic production and application in high-precision fields [9]

Core Viewpoint - The company emphasizes maintaining high-quality growth and promoting sustainable development as its main tasks, focusing on expanding its core detection instrument dimensions and developing high-end pressure sensors and digital platforms [2] Group 1 - The company is working to achieve overall business synergy to create its growth flywheel [2] - The company is adapting to changes in industry and population structure, paying attention to emerging industry development trends [2] - The company aims to capture product application opportunities in relevant scenarios to establish a long-term return mechanism for investors and society [2]