Lens(SZ:300433)2025-10-30 00:50Group 1: Robotics Business Overview - The company has established itself as a leading manufacturer in the humanoid robot sector, with expected shipments of several thousand humanoid robots and over ten thousand quadruped robots this year, generating estimated revenues in the hundreds of millions RMB [1][2] - The company has a long-term partnership with major North American clients, being a primary supplier for smart cockpit modules and actively developing various robot components for mass production [1][2] - The strategic focus is on both complete assembly and key functional modules, aiming to become the largest embodied intelligent robot manufacturing platform globally [3] Group 2: Automotive Glass Production - The first automotive glass production line has passed customer certification and is expected to achieve mass production by the end of this year, capable of meeting the demand for several hundred thousand vehicles [2] - Three additional production lines are set to complete construction by the end of this year, with plans for rapid certification and production in the first quarter of next year, collectively targeting an annual capacity of over one million vehicles [2] Group 3: Financial Performance and Profit Margins - The slight decline in gross margin year-on-year is attributed to a higher proportion of lower-margin complete assembly business, although the margins for structural components and functional modules remain stable [2][3] - The company anticipates an improvement in overall gross margins as new products utilizing advanced materials and processes are introduced, driven by a new innovation cycle among clients [2][3] Group 4: New Product Development and Market Trends - The company is actively involved in the development of a new foldable device for a major client, having completed product finalization and equipment preparation, with plans to supply critical components [4] - Following the successful launch of a new device by a major client, there has been a surge in orders, prompting the company to expand its workforce to nearly 170,000 employees to meet production demands [4] Group 5: Future Outlook and Strategic Initiatives - The company is optimistic about its fourth-quarter performance due to concentrated orders from major clients, expecting to achieve high-quality growth for the year [4] - In the AI server business, the company has begun product development and is expanding into various assembly areas, with initial shipments already underway and plans for large-scale production next year [4][5]