Core Viewpoint - Meiya Optoelectronics is enhancing its competitiveness by investing in a new intelligent coating and sheet metal production base, with a total investment of 185 million yuan, aimed at increasing production capacity and transitioning towards high-end, intelligent, and green manufacturing [2][4]. Investment and Expansion - The new project will add a production capacity of 10,000 sets per year in coating, sheet metal, and machining [4]. - The project is expected to start construction in June 2025 and be completed by December 2026, with production gradually commencing in the first half of 2027 [4]. Business Focus and Product Lines - Meiya Optoelectronics specializes in optical identification equipment, focusing on three main sectors: food safety, healthcare, and renewable resources, with key products including color sorters, X-ray foreign object detectors, and dental CBCT [3][6]. - The company has established high-level innovation platforms and has undertaken over 30 national and provincial major scientific projects [5]. Financial Performance - In 2024, Meiya Optoelectronics reported a revenue of 2.311 billion yuan, a decrease of 4.73% year-on-year, and a net profit of 649 million yuan, down 12.84% [6][7]. - The revenue from color sorters, X-ray industrial detectors, and medical devices was 1.622 billion yuan, 149 million yuan, and 503 million yuan respectively, with significant declines in the latter two categories [7]. Research and Development - The R&D expense rates for 2022 to Q1 2025 were 5.79%, 6.13%, 6.90%, and 7.40%, respectively, indicating a consistent increase in investment in innovation [5]. - The company holds 158 valid invention patents, 205 utility model patents, and 47 design patents as of the end of 2024 [5]. Financial Health - As of Q1 2025, Meiya Optoelectronics had cash and cash equivalents of 1.474 billion yuan and trading financial assets of 452 million yuan, totaling 1.926 billion yuan, with no short-term or long-term debt [8]. - The company's asset-liability ratio has decreased for three consecutive years, reaching 14.09% by the end of Q1 2025 [8].