Group 1: Industry Trends and Equipment Demand - The development and changes in the consumer electronics industry will create new equipment demands due to material changes and production process improvements [2] - The proliferation of AI technology is driving innovation and rapid product iteration in the consumer electronics sector [2] - The company has been providing services to Apple's supply chain since iPhone 4, gaining high recognition for its grinding and polishing products [2] Group 2: Emerging Business Segments - The company is expanding into emerging fields such as semiconductors, aerospace, robotics, and bearings [2][3] - In the semiconductor industry, the company produces precision processing equipment for various crystal materials, including sapphire and silicon [2] - The high-end composite vertical grinding machine has entered the aerospace market for processing key components [3] Group 3: Acquisition and Development of Southern Machine Tool - Since acquiring Southern Machine Tool in 2024, the company has invested 20 million yuan to enhance its technology and market development [4] - Southern Machine Tool achieved a revenue of 32.73 million yuan in the first half of 2025 and successfully developed a large vertical slotting machine [4] - A stock incentive plan for core personnel at Southern Machine Tool has been proposed to further drive its growth [4] Group 4: High-End Grinding Machine Development - The company has developed various high-precision grinding machines, including composite vertical grinders, which are gaining brand influence in high-end sectors [5] - Future efforts will focus on enhancing research and production capabilities in high-end general grinding machines [5] Group 5: Capacity Expansion Plans - The company is advancing the "High-End CNC Grinding Machine R&D Center" project at its Xingsha production base, covering over 20,000 square meters [6] - Completion of this project will enhance the company's R&D and production capabilities in high-end grinding machines [6]

Core Viewpoint - Company has been increasing its penetration in emerging business areas such as semiconductors, aerospace, robotics, and bearings, while optimizing its product structure [1] Semiconductor Sector - Company produces precision processing equipment for the semiconductor industry, covering crystal materials like sapphire, single crystal silicon, and silicon carbide [1] - Main products include various types of crystal flat grinding, round processing, and single/double-sided grinding and polishing processes [1] Aerospace Sector - High-end composite vertical grinding machines have gradually entered the market, with clients including Shenyang Liming Aircraft [1] Robotics Sector - Company's spiral pulling machines are used for processing robot components, such as the gear ring of planetary reducers and the internal tooth grooves of RV reducers [1] Bearing Sector - The competitiveness of the company's grinding and pulling equipment in the bearing field for import substitution is continuously improving, with clients including Luoyang Bearing [1]

Group 1: Company Expansion and Strategy - The company has established a wholly-owned subsidiary, New Vietnam Intelligent Equipment Co., Ltd., in Hanoi with a registered capital of 25.25 billion VND (approximately 100,000 USD), marking a significant step in its internationalization strategy following the establishment of a subsidiary in Singapore in July 2023 [1] - The company is implementing a dual-driven strategy of "capital empowerment + deepening industrial engagement," which includes setting up a platform company in Singapore, acquiring a stake in Hunan Southern Machine Tool, and launching operations in Vietnam to support global market expansion [1][2] - The Vietnam subsidiary will serve as a frontline window in Southeast Asia, enhancing the company's responsiveness and international service capabilities to meet the needs of downstream customers' global manufacturing bases [1] Group 2: Financial Performance and Innovation - In 2024, the company achieved a historical high in revenue of 473 million CNY, representing a year-on-year growth of 12.41% [2] - The company invested 49.46 million CNY in R&D, accounting for 10.47% of its revenue, and successfully developed six new products, four of which reached international advanced levels [2] - The company focuses on high-end composite vertical grinding machines, CNC double-sided grinding machines, and multi-axis polishing equipment, which are widely used in key sectors such as consumer electronics, automotive parts, aerospace, and semiconductors [2] Group 3: Market Trends and Opportunities - Orders from emerging industries such as new energy, precision manufacturing, and new materials have seen significant year-on-year growth, with revenue from automotive parts manufacturing and energy sectors increasing by 131.52% and 910.20%, respectively [3] - The company is expected to benefit from new development opportunities in the machine tool industry, driven by policies promoting large-scale equipment updates and consumption upgrades [3] - The completion of the Vietnam subsidiary reflects the company's commitment to smart manufacturing and internationalization, signaling a strategic shift from "layout" to "operation" [3]