CTN(SZ:300430)2025-05-09 08:38Group 1: Industry Overview - The smart manufacturing sector is experiencing a competitive landscape where international giants dominate the high-end market, while local companies seek differentiation [2][3] - The rehabilitation medical device industry faces short-term adjustment pressures but is transitioning towards quality-based competition due to stricter regulations and market purification mechanisms [3] Group 2: Financial Performance - In 2024, the company achieved a revenue of CNY 958 million, with a net profit attributable to shareholders of CNY 96.54 million [7] - Revenue from the smart manufacturing segment decreased by 21.85% year-on-year, while the rehabilitation medical segment saw a decline of 9.73% [16] Group 3: Strategic Initiatives - The company is focused on a "dual-wheel drive" strategy, enhancing its product matrix in smart manufacturing while expanding into emerging sectors like biomanufacturing and food [5][12] - In the rehabilitation medical field, the company aims to build a high-value product system and penetrate grassroots medical markets [5][12] Group 4: Product Development and Innovation - The company has established a dual-track strategy for brain-computer interface (BCI) development, focusing on both invasive and non-invasive technologies [10][11] - Three prototypes of rehabilitation devices integrating BCI technology were successfully launched in July 2024, with plans for market registration [8][9] Group 5: Market Challenges and Responses - The company faces challenges from reduced capital expenditure willingness among clients and structural demand fatigue, impacting order delivery cycles [16] - To mitigate these challenges, the company is tightening cash flow management and optimizing funding safety margins [16]