LY iTECH(SZ:002600)2025-04-23 01:58Group 1: Business Strategy and Development - The company aims to fully develop its "human-eye-folding-service" business layout in 2025, focusing on robotics, AI glasses, folding screens, and servers [3] - The acquisition of Jiangsu Keda will allow the company to transition from a Tier 2 to a Tier 1 automotive supplier, enhancing its market position and customer relationships [10][11] - The company has established a strategic partnership with the "Tiangong" robot company to provide high-quality humanoid robot hardware services [6] Group 2: Financial Performance and Projections - Jiangsu Keda's 100% equity is valued at 505 million RMB, with the company acquiring 66.46% for 332 million RMB [7] - The projected revenue for the automotive and low-altitude economy business in 2024 is 2.117 billion RMB, with Jiangsu Keda expected to contribute 899 million RMB [11] - Performance commitments for Jiangsu Keda include net profits of at least 47 million RMB, 56 million RMB, and 65 million RMB for 2025, 2026, and 2027, respectively [11] Group 3: Product and Technology Development - The company has core technological capabilities in humanoid robots, including servo motors, reducers, and motion controllers, and has experience in joint development and assembly [4][6] - In the AI glasses sector, the company focuses on key components and technology development for AR, VR, and MR devices, collaborating closely with leading global clients [4] - The company provides comprehensive solutions for folding screens, including key components like frames and thermal management solutions, catering to high-end folding screen devices [5] Group 4: Market Position and Competitive Advantage - The company operates 58 production sites and R&D centers globally, ensuring localized management and rapid response to customer needs [13] - It has established strong partnerships with major domestic consumer electronics brands, enhancing its competitive edge in the market [14] - The company has received 31 quality awards from various clients and associations, reflecting its commitment to quality and innovation [14] Group 5: Impact of External Factors - The company is not directly affected by the "equal tariffs" event, as its products are not exported to the U.S. and it has strong capabilities to manage supply chain fluctuations [12]