WLY(SZ:002434)2025-12-05 09:46Group 1: Business Overview - The company operates in two main sectors: automotive parts and new energy storage [2] - Automotive parts include R&D, production, and sales of transmission system products for passenger vehicles, commercial vehicles, and new energy vehicles [2] - The new energy storage business focuses on power generation side storage stations, grid side independent storage stations, and user side storage stations [2] Group 2: Passenger Vehicle Transmission Development - The company is expanding its CVT automatic and MT manual transmission products into international markets such as Europe, Southeast Asia, and the Middle East [3] - The growth in electric vehicle (EV) penetration is expected to drive sales of EV reducers and related products [3] Group 3: Commercial Vehicle Transmission Development - The company has a competitive advantage in the light truck transmission market, with significant sales growth in 2025 [4] - Focus on electric products for light trucks, including P2 and PS hybrid systems, with increased single vehicle value compared to manual products [4] - Heavy-duty truck transmission products are a key area for expansion, with performance comparable to international brands and a cost advantage [4] Group 4: Non-Road Transmission System Development - The company is developing products such as electric drive systems for construction machinery and CVTs for high-horsepower tractors [5] - New products have been launched, with positive client feedback and increased single vehicle value compared to passenger vehicle products [5] Group 5: Robotics Components Development - A dedicated robotics subsidiary has been established to focus on precision transmission products for robots [6][7] - The production line for robotic joint precision transmission products is expected to be operational by May 2026 [7] - The product platform includes harmonic reducers and planetary reducers, catering to various robotic applications [7] Group 6: New Energy Storage Business Development - The company has operational grid-side independent storage stations in Zhaoqing and Yiwu, with capacities of 100MW/200MWh and 100MW/200MWh respectively [7] - Ongoing construction of additional storage stations in Foshan and Yiwu, with expected completion by the end of 2025 [7] - The company is actively expanding its footprint in multiple regions for independent storage projects [7]