Hamaton(SZ:300643)2025-06-20 02:02Group 1: Company Overview and Strategy - The company introduced its historical evolution, development strategy, and main business operations during the investor relations activity [1] - The company has established a partnership with Zhejiang University to explore embodied intelligence, with a feasibility report expected in 2-3 months [1] Group 2: Market Impact and Trade Relations - The recent easing of the US-China trade tensions has not significantly impacted the company, which has been proactively managing policy risks since 2018 through global production strategies [2] - The company will continue to monitor policy dynamics to enhance its risk resilience [2] Group 3: Product Development and Market Trends - The mandatory installation of TPMS in new passenger vehicles in China began in 2020, with a replacement wave expected around 2025-2026 due to the 5-7 year lifespan of sensors [2] - The company has launched a cloud programming sensor system to address previous challenges in the market, aiming to expand to 10,000 stores [2] Group 4: Profitability and Market Position - The gross margin for commercial vehicle sensors (NLP products) is approximately 60%-70%, while passenger vehicle sensors maintain a gross margin of around 50% [2] - Passenger vehicle TPMS sensors can adapt to over 95% of market models, providing a strong competitive edge [2]