Core Viewpoint - Snow Qi Electric's performance in the first half of 2025 shows a decline in revenue but an increase in net profit, indicating a mixed financial outlook amid strategic adjustments and market challenges [2][3]. Financial Performance - In the first half of 2025, Snow Qi Electric achieved revenue of 896.57 million yuan, a decrease of 3.92% year-on-year, while net profit attributable to shareholders was 34.99 million yuan, with a growth of 13.70% after excluding share-based payment impacts [2]. - Domestic revenue accounted for 55.84% of total revenue at 500.68 million yuan, while overseas revenue grew by 20.91% to 395.90 million yuan, representing 44.16% of total revenue [2]. Profitability Analysis - The company's gross margin increased slightly by 0.21%, but net margin decreased by 0.35 percentage points due to a rise in expense ratios, particularly a 26.02% increase in sales expenses [3]. - The implementation of a restricted stock incentive plan led to amortized expenses of approximately 9.35 million yuan in the first half of the year, contributing to the net profit growth [3]. Accounts Receivable - As of June 30, 2025, accounts receivable stood at 387.98 million yuan, accounting for 18.16% of total assets, showing a decrease of 2.62% year-on-year [4]. - The proportion of accounts receivable over one year old is only 1.39%, indicating a stable collection situation with no significant overdue accounts [4]. Shareholder Actions - In April 2025, shareholders disclosed plans to reduce their stakes by 3% and 1%, respectively, which have since been completed without major impacts on the company's governance or operations [5]. Product Strategy - The company is experiencing a transition period, focusing on high-capacity refrigerators, with products over 500L increasing from 68% to 76% of the product mix [6]. - The company aims to enhance R&D and adjust product and customer structures while emphasizing overseas market expansion [6]. Strategic Acquisitions - The acquisition of Shengbang Electric, a long-time supplier, aims to extend the supply chain upstream, enhance component reliability, and reduce operational risks and costs [7]. Subsidiary Performance - Wuliang Intelligent, a high-tech enterprise, reported approximately 28 million yuan in revenue for PCBA products in the first half of 2025, with a focus on expanding into industrial and new energy sectors [8]. International Market Strategy - The company has sales in over 100 countries, with significant growth in South America, Asia, and North America, while adjusting strategies to address slight declines in the North American market [10].

Group 1: Company Overview - The company, Shenzhen Longte Intelligent Control Co., Ltd., is identified by stock code 300916 and is involved in the production of various electronic products [1]. - The company has successfully entered production at its Thailand factory as of June 2025, initially focusing on PCBA and finished products, with plans to expand into automotive electronics [3]. Group 2: Financial Performance - In Q1 2025, the company's revenue from small energy storage systems increased by 226.68% year-on-year, reaching 170 million [3]. - The company maintains a positive outlook on the growth potential of the energy storage market, particularly in regions like Kenya, Nigeria, Tanzania, and Mozambique, where there is a pressing demand for energy storage solutions [3]. Group 3: Production and Supply Chain - The delivery cycles for ODM projects vary: 2-3 months for consumer PCBA, 6-8 months for smart products, and 6-12 months for automotive electronics [3]. - The Thailand factory's products are primarily supplied to Southeast Asia and Europe, with some raw materials sourced locally and others imported from China [4]. Group 4: Strategic Decisions - The controlling shareholder's recent inquiry for share transfer aims to attract strong institutional investors to enhance market liquidity and support the company's long-term development [4].

Group 1: Company Strategy and Market Position - The company is focusing on the development of smart controllers for robotic applications and is exploring potential mergers and acquisitions to expand its market presence [2] - The company holds a positive outlook on the growth potential of the energy storage market, particularly in regions with unstable power supply like Kenya, Nigeria, and Tanzania [2] - The company plans to leverage its expertise in atomization controller technology to expand into new markets such as atomization medical and beauty applications [3] Group 2: Financial Performance and Projections - The revenue from the consumer electronics business accounts for 44% of total revenue in 2024, with significant contributions from the atomization controller platform [3] - The gross margin for the consumer electronics business is reported at 12.26%, with plans to enhance profitability through technology upgrades and customer optimization [3] - The company aims to expand its ODM business and strengthen strategic partnerships with key clients over the next two years, targeting both domestic and international market growth [3] Group 3: Operational Insights - The company's direct exports to the U.S. account for approximately 4%, indicating limited impact from changes in U.S.-China tariff policies [3] - The new factory in Thailand is set to begin production in June, focusing on PCBA products and finished goods such as sensing trash cans and electric tools [3]

Company Overview - Shenzhen Longte Intelligent Control Co., Ltd. is identified by stock code 300916 and stock abbreviation Longte Intelligent [1] Financial Performance - Revenue growth in the first two quarters of 2024 was strong, but a decline is expected in the second half, primarily due to the consumer electronics PCBA segment [2] - The overall gross margin for 2023 and 2024 is approximately 17%, a decrease from previous years, mainly due to changes in product structure [2][3] - The gross margin for consumer electronics PCBA is around 12%, which negatively impacts the overall gross margin [2][3] Market Dynamics - The smart home appliance PCBA segment saw a revenue decline of 2.57% in 2024, attributed to intense price competition [4] - Competitors have shifted focus to mid-tier customers, increasing competition in the home appliance sector [5] Automotive Electronics - Major OEM clients include leading domestic car manufacturers and well-known companies in niche markets [6] - ODM projects are growing annually, with delivery cycles typically ranging from 6 to 12 months [7] - Key product lines in ODM include electronic oil pump controllers and electronic water pump controllers, each with varying market values [8] Future Outlook - The gross margin for automotive electronics is expected to improve in 2024 due to participation in high-end vehicle projects [9] - The subsidiary Longteng Future is in the incubation phase, with revenue targets to be adjusted based on project progress and market feedback [9] Product Performance - Revenue from new consumer electronics products is projected to be over 100 million, reflecting an 18.2% year-on-year decline due to reduced demand for niche products like pool robots [10] - The storage product segment experienced significant fluctuations, with a sharp increase in 2022 followed by a decline in 2023 due to changes in local energy subsidy policies [10] International Operations - Overseas direct sales accounted for approximately 30% of total revenue in 2024, with the U.S. market contributing about 4% of this total [10] - A new factory in Thailand is set to begin production in June, focusing on PCBA and finished products, with specific output values to be determined based on market demand [10] Strategic Planning - The company is currently focused on the first phase of the Thailand project and will evaluate further overseas expansion based on production performance and market conditions [10]

Group 1 - The company plans to acquire 100% equity of Souluke Electronics for a total transaction price of 198 million yuan [1] - Souluke Electronics' main products are categorized into four types: PCBA products, laser products, LED products, and motor control modules [1] - The primary revenue sources for Souluke Electronics are PCBA products and LED products, which together account for over 80% of total revenue [1] Group 2 - Following the completion of the transaction, Souluke Electronics will be included in the company's consolidated financial statements, which will help reduce related party transactions [1]