ZKTECO CO.(SZ:301330)2025-05-06 11:00Group 1: Company Overview and Core Business Areas - The company focuses on two core areas: brain-machine interfaces and vehicle-road-cloud technology, aiming for product deployment in the short term [2]. - The vehicle-road-cloud technology will provide a comprehensive solution from road perception to cloud data processing, enhancing smart traffic scenarios [2]. - The company is accelerating its layout in smart parking operations and leasing businesses, while the brain-machine products have significant potential in medical, educational, and elderly care applications [2]. Group 2: Market Growth and Industry Challenges - The global brain-machine interface market is projected to grow at a compound annual growth rate (CAGR) of 25.22%, reaching $7.63 billion by 2029, with China's market expected to exceed 10 billion yuan by 2028 [3]. - The main challenges in the brain-machine industry include signal recognition accuracy and speed, as well as the complexities of neural signal transmission [4]. Group 3: Technological Advantages and Differentiation - The company utilizes a multi-modal data fusion technology combining EEG, EOG, and EMG to overcome the limitations of traditional single-modal devices [4]. - The company’s non-invasive brain-machine interface technology differs from competitors like Neuralink, focusing on accessibility and preventive applications in education and elderly care [5]. Group 4: Historical Development and Financial Performance - The company has evolved through four stages since its founding in 1998, from developing fingerprint technology to becoming a global leader in multi-modal biometric devices [6][7]. - Recent revenue growth has been stable, influenced by macroeconomic conditions domestically, while overseas business continues to grow [7]. Group 5: Strategic Responses to Market Conditions - To maintain gross margins, the company has adjusted its product structure, reducing low-margin and loss-making products [7]. - The company has proactively established a factory in Thailand to mitigate the impact of tariffs on its U.S. operations, with minimal short-term effects anticipated [7].