Investment Rating - The investment rating for the company is "Accumulate" with a target price of 52.92 CNY [6][13]. Core Insights - The company has demonstrated steady revenue growth, effective cost control, and is advancing its AI sewing machine and robotics business, which opens a second growth curve through its intelligent transformation [2][13]. - The company reported a revenue of 4.967 billion CNY for the first three quarters of 2025, representing a year-on-year increase of 5.53%, and a net profit attributable to shareholders of 682 million CNY, up 10.06% year-on-year [13]. - The company is transitioning from a traditional sewing equipment manufacturer to an intelligent manufacturing solution provider driven by AI and robotics, with successful implementation of smart features in core products [13]. Financial Summary - Total revenue is projected to grow from 5.294 billion CNY in 2023 to 7.997 billion CNY in 2027, with a compound annual growth rate (CAGR) of approximately 10% [4][14]. - Net profit attributable to shareholders is expected to increase from 538 million CNY in 2023 to 1.240 billion CNY in 2027, reflecting a CAGR of around 16.4% [4][14]. - The earnings per share (EPS) is forecasted to rise from 1.13 CNY in 2023 to 2.60 CNY in 2027 [4][14]. - The return on equity (ROE) is anticipated to improve from 12.4% in 2023 to 19.7% in 2027 [4][14]. Strategic Developments - The company has launched its high-end smart brand "Aitu" with its first product Ai10 targeting the global high-end market, marking the commercialization of its AI product system [13]. - The intelligent transformation strategy is expected to gradually reveal growth potential as AI and robotics products are progressively implemented [13].

Core Insights - Aitu, a brand under Jack Technology, aims to revolutionize the garment manufacturing industry through AI integration, breaking the long-standing dominance of German and Japanese companies in high-end garment manufacturing equipment [1][3] - The brand's innovative AI technology has garnered international recognition, marking a shift for Chinese enterprises from "catching up" to "leading" in this niche [3][4] Technology and Innovation - Aitu has invested over 100 million yuan in R&D, assembling a team of over 300 top global AI experts and collaborating with prestigious universities to create a robust AI-driven product technology system [3][4] - The introduction of the Ai10 device is expected to enhance machine adjustment efficiency by 80%, reduce technician training time by 60%, and improve individual worker productivity by 8% to 15% [4][5] Market Positioning and Strategy - Aitu's brand name pays homage to Alan Turing, with a mission focused on empowering industry value through intelligent manufacturing [5] - The design of Aitu's products addresses dual needs of cost reduction and talent retention, which is crucial for maintaining production efficiency and quality [5][6] Commercialization and Market Penetration - Aitu has established partnerships with leading garment companies and solidified its global supply chain and sales channels, leveraging Jack Technology's existing market presence in over 150 countries [6] - The simultaneous launch of the S90 PRO by Jack Technology complements Aitu's offerings, creating a comprehensive "AI sewing + intelligent cutting" product ecosystem [6]

Core Viewpoint - Jack Technology Co., Ltd. launched the Aitu brand, focusing on AI integration in the garment manufacturing industry, showcasing significant technological breakthroughs in sewing machines [1][3]. Group 1: Aitu Brand Launch - The Aitu brand aims to provide innovative solutions for the global garment manufacturing industry, emphasizing the concept of "AI reinventing sewing machines" [1]. - Aitu's president demonstrated an AI robot capable of fabric sewing, highlighting advancements in "unmanned sewing" technology [1]. - Aitu received the "2025 IFA AI Product Innovation Gold Award" at the IFA in Berlin, indicating a shift in the garment manufacturing landscape traditionally dominated by German and Japanese brands [1]. Group 2: AI Equipment and Innovations - The newly introduced Ai10 equipment can enhance machine adjustment efficiency by 80% and reduce training time by 60%, improving worker productivity by 8% to 15% [2]. - Aitu's mission, inspired by Alan Turing, focuses on "intelligent manufacturing to assist human creativity," emphasizing user-centered design and ergonomic interfaces [2]. - The launch of the S90 PRO Master Cutter by Tuka Bama, featuring advanced technologies, sets a new benchmark in high-end intelligent cutting, redefining the direction of "smart cutting" [2]. Group 3: Industry Impact - The global launch of the Aitu brand and S90 PRO Master Cutter marks a milestone in the application of AI technology in garment manufacturing, promoting a shift towards intelligent, high-end, and customized production [3].