Core Viewpoint - Baoxin Software, a subsidiary of China Baowu Group, focuses on independent research and development to support national strategies, with significant investments in R&D and advancements in industrial automation technology [1][2][3]. Group 1: R&D Investment and Achievements - In 2024, Baoxin Software's R&D investment reached 1.461 billion yuan, accounting for approximately 10.7% of its annual revenue [3][4]. - From 2021 to 2023, the company's annual R&D investments exceeded 1 billion yuan, totaling 5.637 billion yuan over the four years [3][4]. - The company launched its self-developed PLC (Programmable Logic Controller) T3 and T4 series in September 2024, marking a significant breakthrough in domestic industrial control technology [4][5]. Group 2: Company Growth and Financial Performance - Baoxin Software has evolved from a department of Baosteel established in 1978 to a leading software enterprise in China, with a focus on smart manufacturing solutions [2][9]. - The company's revenue and net profit have shown substantial growth since its listing, with 2023 revenue at 12.916 billion yuan and a net profit of 2.554 billion yuan, reflecting a year-on-year increase of 16.82% [9][10]. - Despite a slight revenue decline in 2023, the company maintained strong profitability, with net profits of 2.265 billion yuan in 2024 and 445 million yuan in Q1 2024 [10]. Group 3: Strategic Initiatives and Market Position - Baoxin Software is committed to building an internationally leading industrial internet platform, focusing on digital transformation and smart manufacturing across various industries [2][3]. - The company has actively pursued mergers and acquisitions to enhance its R&D capabilities, including acquiring a majority stake in Feima Zhike and investing in Turing Robotics to enter the high-end robotics market [8][10]. - Baoxin Software has distributed over 10.057 billion yuan in cash dividends since its listing, with an average dividend payout ratio exceeding 60% [11].