Group 1 - The article highlights the importance of weekly announcements from Sunday to Thursday, which include significant stock market events such as suspensions, increases or decreases in holdings, investment wins, acquisitions, earnings reports, unlocks, and high transfers [1] - It emphasizes the need for investors to identify investment hotspots and prevent various black swan events by providing ample time to analyze and find suitable listed companies [1] Group 2 - A company is noted for its involvement in solid-state batteries, military industry, humanoid robots, drones, and MCU chips, being one of the earliest firms in China to invest in solid-state battery technology and focusing on precision bearings and lead screws in humanoid robots [1] - Another company is recognized for its blockchain-related products that have been applied in digital currency business, with a focus on digital currency, cross-border payments, blockchain, domestic chips, cloud computing, and Huawei's HarmonyOS [1] - A third company plans to rapidly enter emerging fields such as humanoid robots and autonomous driving through equity acquisitions, with a specific mention of Tesla [1]

Investment Rating - The investment rating for Shenzhen Inovance Technology is Equal-weight [5] Core Insights - The automation orders in April showed high single-digit year-on-year growth, although some industries like PIMM experienced a year-on-year decline. Conversely, sectors such as battery, machine tool, logistics machinery, packaging, and air conditioners for data centers maintained solid order levels [1] - Management is optimistic about maintaining stable gross profit margins (GPM) for automation in 2025, expecting a contraction of less than 1 percentage point year-on-year in Q1 2025, with no significant adjustments in average selling prices (ASP) year-to-date [2] - The top five clients in the New Energy Vehicle (NEV) sector contributed 50-60% of total EV powertrain revenue, with Li Auto leading at 20-30% [3] Summary by Sections Automation Orders - April automation orders showed high single-digit year-on-year growth, with weaker momentum in industries like PIMM, textile, solar, 3C, and air compressors. However, demand remained solid in battery, machine tool, logistics machinery, packaging, and air conditioners for data centers [1] Gross Profit Margin - Management expects the full-year GPM for automation to remain stable compared to a decline of 2 percentage points in 2024, with Q1 2025 showing a contraction of less than 1 percentage point year-on-year [2] Client Contributions - The top five NEV clients accounted for 50-60% of total EV powertrain revenue, with Li Auto contributing 20-30%, followed by GAC and Chery. Foreign auto OEM clients contributed 5-6% in aggregate [3] Product Pipeline - Inovance plans to launch significant humanoid products in the second half of 2025, including motors, screws, and modules, and aims to introduce a collaborative robot (cobot) product for public sale soon [3]