Summary of Jerry Holdings Conference Call Company Overview - **Company**: Jerry Holdings - **Industry**: Oil and Gas Equipment Manufacturing Key Points and Arguments Industry Dynamics - Saudi Aramco's capital expenditure is expected to grow steadily, with a growth rate of 3% to 15%, driven by the economic transformation in the Middle East, which is beneficial for Jerry Holdings' natural gas compressor orders [2][4] - Saudi Aramco announced a large-scale plan involving over 80 projects, with around 20 related to oil and gas, which is significant for Jerry Holdings' order growth in natural gas compressors [4] Order Growth and Performance - Jerry Holdings reported a cumulative order growth of approximately 30% from January to August, with pure equipment orders increasing by about 25% [2][4] - Although the growth rate slowed after April, it is expected that overseas orders will accelerate, particularly due to the bidding rhythm of China's three major oil companies [2][4] - Major overseas orders are anticipated in Q4, including a 900 million yuan contract in Algeria and several Middle Eastern projects worth 200 to 300 million USD each [2][5] Revenue and Profitability - Revenue growth for July and August was between 20% and 30%, with similar targets set for September [2][6] - The gross profit margin is expected to improve year-on-year, despite a 3.6 percentage point decline in the first half of 2025 due to changes in delivery structure [2][6][7] - The company forecasts a revenue growth of 20% to 30% for Q3 2025, with a potential market capitalization of 60 billion yuan by year-end if performance continues [2][8] Future Projections - Full-year performance for 2025 is projected at approximately 3.1 billion yuan, with expectations to reach 3.9 to 4 billion yuan in 2026, potentially leading to a market capitalization of 80 billion yuan by 2026 based on a 20x valuation [3][9] - The company anticipates a 15% growth in 2025, accelerating to around 30% in 2026, and maintaining a growth rate of about 25% in subsequent years [10] Capacity and Operational Challenges - Jerry Holdings faced capacity issues that affected performance over the past year, with initial production capacity for natural gas compressors at only 1 billion yuan, while orders reached 3 to 4 billion yuan [10] - The company has been expanding capacity, with theoretical production capacity expected to reach 4 billion yuan by the end of 2024, and additional production from a new Middle Eastern gas plant expected to contribute 2 billion yuan in value [10] Business Segments Contribution - The natural gas compressor business has shown strong performance, with orders growing over 50% year-on-year from January to July [11] - The EPC business is also expected to contribute significantly to future performance, alleviating concerns about revenue growth [11]

Summary of the Conference Call for 欧圣电气 Company Overview - 欧圣电气 primarily sells small air compressors and wet/dry vacuums through ODM and brand licensing models, accounting for nearly 90% of total revenue [2][9] - Major clients in the ODM model include large channel distributors like Lowe's [2] Industry Insights - The global pneumatic tools market is expected to reach $12.6 billion by 2025, with North America accounting for nearly half [2][10] - The small air compressor market is approximately $1 billion, with China exporting 60% of its compressors to North America, and 欧圣 holding a leading market share of 32% in this segment [2][10] - The U.S. vacuum cleaner market is valued at around $11 billion, with wet/dry vacuums making up about one-third of this market [2][11] Key Growth Drivers - **Market Share Growth**: 欧圣 expects over 50% revenue growth in air compressors in 2024, with a significant portion of compressors sold by 嘉德宝 being produced by 欧圣 [3] - **New Product Categories**: Expansion into pneumatic tools and outdoor power equipment (OPE) is projected to increase from 10% in 2024 to 25% by 2025-2026 [3] - **Geographic Expansion**: The company is actively entering non-North American markets, particularly Europe and South America, with European market growth expected to be two to three times [3][8] New Business Ventures - 欧圣's elderly care robot business has received CE and UL certifications, with expected shipments exceeding 1,000 units by 2025 at a unit price of approximately ¥20,000 and a gross margin over 50% [2][7] Strategic Initiatives - **Factory in Malaysia**: The establishment of a factory in Malaysia allows 欧圣 to benefit from tariff and tax advantages, enhancing cost efficiency and global supply chain stability [4][8] - **Response to Tariffs**: Despite a slowdown in growth due to U.S. tariffs in Q2 2025, overall order conditions remain strong, with potential for recovery driven by the elderly care robot business [4][13] Competitive Advantages - **Stable Supply Chain**: 欧圣 maintains a complete R&D and after-sales team, ensuring quick response to customer needs [14] - **Quality Control**: The company has a high self-manufacturing rate for motors and leads in ultra-quiet technology, enhancing product reliability [14] - **Channel Relationships**: Transitioning from a contract manufacturer to a strategic partner with brands like 百得, 欧圣 has deepened its channel relationships [14] Future Outlook - Despite anticipated growth slowdowns due to tariffs, the overall development logic for 欧圣 remains robust, with expectations for a rebound in performance [13]

Summary of Yuanfei Pet's Conference Call Company Overview - **Company**: Yuanfei Pet - **Industry**: Pet Food and Products Key Points and Arguments Financial Performance - **Q3 Revenue Growth**: Yuanfei Pet expects a revenue increase of 20%-30% year-on-year for Q3 2025, with a target of 1 billion yuan for its own brand and 250-300 million yuan for its agency business [2][3] - **Sales Performance**: The main brand, Pikap, achieved over 10 million yuan in sales in August, with a quarterly target of 30 million yuan [2][4] - **Profitability**: The net profit margin for overseas production in Cambodia is over 20%, allowing for cost-sharing with clients [4][18] Brand Strategy - **Focus on Core Brands**: The company is concentrating on its core brand, Pikap, and has eliminated underperforming brands to streamline operations [2][14] - **Product Expansion**: The product line is expanding from dog snacks to include cat snacks and staple foods, aiming for a one-stop shopping experience [2][6] - **Market Positioning**: Targeting the mid-price range market to increase customer exposure through a multi-category approach [2][6] Marketing and Sales Channels - **Channel Strategy**: Emphasis on Douyin (TikTok) for customer acquisition due to lower costs, with plans to convert customers to traditional e-commerce platforms like Taobao and JD [2][9] - **E-commerce Promotions**: No major promotional activities planned for the Double Eleven shopping festival; instead, a steady promotion of new products will continue [7] Competitive Landscape - **Domestic Competition**: Increased pressure from domestic brands on international brands, with a focus on capturing market share quickly [10] - **Market Dynamics**: The pet food market is characterized by a mix of new entrants and the decline of some mid-sized companies, with a few brands achieving significant scale [11] International Operations - **Export Markets**: The U.S. accounts for 70% of exports, with a 19% tariff; Europe and Japan account for 20% and 10%, respectively [4][19] - **Production Costs**: The cost advantage of Cambodian production remains significant, with tariffs in Cambodia at 19% compared to 55% in China [20] Future Outlook - **Growth Targets**: The company has set a 20% growth target for overseas markets over the next three years, with stable core customers mitigating risks from price fluctuations [22] - **Long-term Goals**: The goal for the self-owned brand business in 2026 is 300 million yuan in revenue, with a break-even point projected at over 500 million yuan [26] Employee Stock and Governance - **Employee Stock Reduction**: Recent stock reductions were related to pre-IPO shares held by long-term employees, unrelated to current equity incentive plans [16] Challenges and Risks - **Market Saturation**: Many pet food companies are stagnating around the 100 million yuan revenue mark due to various operational challenges [11] - **Profit Margin Pressures**: While the demand for high-end products is decreasing, the profitability of mid-range products remains stable [24] Additional Important Information - **Supply Chain Adjustments**: The company has successfully transitioned its supply chain to Cambodia, enhancing operational efficiency [18] - **Customer Retention**: The company anticipates an increase in customer repurchase rates as it enters a conversion cycle [8]

Summary of the Conference Call for 博瑞医药 Company Overview - **Company**: 博瑞医药 (Borui Pharmaceutical) - **Industry**: Metabolic diseases and weight management Key Points and Arguments Product Development and Clinical Trials - 博瑞医药 has developed differentiated treatment strategies for various weight categories, focusing on both rapid weight loss and maintenance phases to meet diverse patient needs [2][4][6] - The company is conducting Phase III clinical trials for its injectable product 0,504 in China and Southeast Asia, with an NDA submission expected in the first half of 2026 [2][12][13] - An oral formulation of 0,504 is also in Phase I clinical trials in the U.S. [2][12] - The company is exploring the balance between fat reduction and muscle preservation, addressing complications like reduced bone density and obesity-related clinical manifestations [2][10] Market Analysis and Competitive Landscape - The market is segmented into small and large weight categories, with small weight loss needs (up to 20%) accounting for approximately 15% of the market, while large weight loss needs (over 20%) represent a larger share [4][6] - Current market offerings are primarily injectable, but oral medications are anticipated to capture about 30% of the market share, potentially increasing with better oral products [4][6] - Competitors like Novo Nordisk and Eli Lilly are also active in this space, with their own product offerings targeting different weight categories [4][5] Clinical Efficacy and Safety - Clinical studies indicate that 0,504 shows significant effects in both glycemic control and weight loss, with good safety profiles and no unforeseen adverse events in high-dose groups [2][12][19] - In blood pressure control, the Phase II trial data for 博瑞医药's products outperformed other similar products on the market [19] Future Directions and Innovations - 博瑞医药 is focusing on long-acting delivery methods and oral convenience, with plans for weekly or monthly dosing to enhance patient compliance [3][8][29] - The company is also developing combination therapies to address weight rebound issues and improve overall treatment efficacy [11][27] - Future product pipelines include additional formulations for diabetes complications and weight management, with plans for IND submissions in 2026 [28][34] Research and Development Strategy - 博瑞医药 is leveraging unique technologies in peptide drug development, particularly in oral formulations, which have shown significantly improved bioavailability compared to existing products [31][32] - The company aims to differentiate itself through innovative delivery methods and combination therapies, enhancing its competitive edge in the metabolic disease management market [29][30] Market Position and Investor Sentiment - Recent stock price adjustments have raised investor interest in the company's R&D pipeline, with a focus on the potential for differentiated products in the next 3-5 years [29][34] - 博瑞医药 is committed to addressing unmet clinical needs and enhancing its market presence through robust clinical data and innovative solutions [32][34] Additional Important Insights - The company emphasizes the importance of long-term weight management strategies and the need for effective maintenance therapies post-weight loss [9][10] - 博瑞医药's research highlights the significance of addressing comorbidities associated with obesity and metabolic disorders, aiming for comprehensive patient care [10][14] This summary encapsulates the key insights from the conference call, focusing on 博瑞医药's strategic initiatives, product developments, and market positioning within the metabolic disease sector.

Summary of Xinjie Electric's Conference Call Company Overview - **Company**: Xinjie Electric - **Industry**: Industrial Automation and Robotics Key Points and Arguments - Xinjie Electric has a solid main business and good fundamentals, with relatively low valuation, making it an ideal investment target in the current liquid market [2][3] - The company is actively expanding into industrial control and motor businesses, which are applicable in the humanoid robot field, potentially leading to breakthroughs and substantial entry into core downstream enterprises [2][5] - Focus areas in the robotics sector include frameless torque motors, motors, and controllers, with ongoing R&D on products like frameless torque and hollow cup steering magnetic flux, indicating a vast potential market [2][9] - Starting in 2023, Xinjie Electric has entered the encoder market, with plans for productization in 2024, having already supplied thousands of encoder products to Changchun Rongde [2][13] - The launch of the DL6 series direct-drive servo for semiconductor packaging ensures rapid response and synchronization during high-speed operations, with ongoing new product development and market expansion [2][14] - The company is investing in the R&D of medium and large PLC systems to enhance safety, reliability, and stability, aiming to improve product quality and market competitiveness [2][15][16] Industry Insights - The humanoid robot industry is seeing a focus on companies with competitive advantages in technology and market presence, as well as those with stable fundamentals and low valuations, providing dual protection in investment [4] - The industrial automation sector consists of four layers: control, drive, execution, and sensing, with Xinjie Electric excelling in small PLCs compared to competitors [8] - The domestic industrial control companies are actively developing humanoid robot technologies, with various companies like Huichuan Technology and Leisai focusing on similar product lines [12] Market Position and Challenges - Xinjie Electric's market share in the small PLC sector ranks second among domestic brands, with a strong presence in multiple downstream industries including printing, food machinery, and new energy [6][7] - The Chinese PLC market is experiencing slow growth, with small PLC domestic market share increasing from 2-3% in 2019 to 7-9% in 2024, while large PLCs face challenges in safety and stability [15][16] - Despite current valuation gaps with peers like Leisai and Weichuang, Xinjie Electric's steady progress in new business areas is expected to narrow this gap over time [17][18] Investment Opportunities - Xinjie Electric's ongoing new business developments and solid main operations present good investment opportunities, with expectations of gradually closing the valuation gap with competitors [19]

Summary of the Conference Call for Minsheng Health Company Overview - Minsheng Health focuses on the OTC (Over-the-Counter) health product market, with its core product being 21 Jinweita, which is expected to maintain mid-to-high single-digit growth [2][4] - The company has a significant market share in the OTC vitamin and mineral product sector, with a sales volume market share of approximately 36%, second only to Shancun [5][13] Financial Performance and Projections - For 2024, Minsheng Health's total revenue is projected to be around 6.41 billion yuan, with 21 Jinweita accounting for 69% of this revenue, approximately 4.42 billion yuan [3][6] - Revenue growth is expected to be between 24% and 25% in 2025, reaching around 8 billion yuan, with profit growth of about 16%, exceeding 1 billion yuan [6][24] - By 2026, revenue growth is anticipated to be around 30%, with profits nearing 1.4 billion yuan [6][24] Market Dynamics - The Chinese OTC vitamin and mineral product market is projected to grow from 160.6 billion yuan in 2016 to 283.4 billion yuan by 2024, with a CAGR of approximately 12% [10] - The overall OTC market in China is expected to grow from 128.9 billion yuan in 2010 to 221.4 billion yuan in 2024, with a CAGR of about 7%, significantly outpacing global growth [7] Product Development and New Launches - The company is expanding its product matrix with new offerings, including B vitamins and calcium tablets, which are expected to contribute to a 10% annual growth in the vitamin and mineral segment [4][18] - Minsheng Health has acquired Zhongke Jiayi, a domestic probiotic raw material manufacturer, which is expected to contribute 70-80 million yuan in revenue in 2025 [2][8][19] - The company is also developing therapeutic drugs, including Minoxidil for hair loss and Varenicline for smoking cessation, with the latter projected to generate around 1 billion yuan in revenue [8][20][21] Competitive Landscape - The OTC vitamin and mineral market is characterized by a few dominant players, with Shancun holding a market share of about 48% and Minsheng Health around 25% based on sales [13] - The current regulatory environment has paused the approval of new OTC vitamin and mineral product licenses, giving Minsheng Health a competitive edge with its existing licenses [5][13] Sales Channel Trends - The online sales channel for OTC products has increased from 4.61% in 2017 to an expected 30.45% by 2024, although offline channels remain dominant at approximately 60.55% [12] - The ability to use health insurance for OTC vitamin and mineral products provides a natural advantage for offline sales channels [12] Future Growth Drivers - Key growth drivers include the aging population in China, which is expected to increase the demand for health products, and the rising health awareness among consumers [10][11] - The company aims to leverage its unique OTC licenses and product offerings to maintain stable growth in the long term [16] Valuation Considerations - Given the scarcity of OTC licenses and the significant revenue contribution from this segment, Minsheng Health is expected to command a valuation premium compared to peers in the health product sector [25]

Summary of Tianshan Cement Conference Call Company Overview - Tianshan Cement is a leading national cement company in China, benefiting from the industry's anti-competition trend and supply-side reform policies, particularly the requirement to address overproduction by the end of 2025 [2][3][12]. Key Points and Arguments Industry Dynamics - The cement industry has entered a downward phase since the peak in 2020-2021, with cumulative demand expected to decline by 23% by the end of 2024 [9]. - The demand structure is shifting, with infrastructure becoming the main driver of cement demand, replacing real estate [10][11]. - The industry faces challenges such as internal competition and the need for capacity reduction, with policies in place to enforce production limits [13][14][15]. Company Performance - Tianshan Cement's clinker sales have declined in line with the industry, with a compound annual growth rate of -10.8% from 2021 to 2024 [18]. - Despite a drop in sales price from 360 RMB to approximately 250 RMB, the company maintained a competitive average price of 247 RMB per ton, second only to Huaxin Cement [18]. - In 2025, the company achieved a significant turnaround in Q2, reporting a profit of 572 million RMB, a year-on-year increase of nearly 140% [19]. Financial Health - The company has a stable financial position, with a decreasing debt-to-asset ratio and low financing costs, averaging 2.61% in 2024 [22]. - Tianshan Cement has committed to a dividend payout ratio of no less than 50% from 2025 to 2027, ensuring shareholder returns [23]. Cost Management and Efficiency - The company is implementing cost reduction measures, including increasing self-sufficiency in limestone and optimizing management, resulting in a decrease in unit costs [21]. - The average unit cost decreased by 23 RMB in 2024, while the average price per ton increased by 13 RMB in the first half of 2025 [20]. Growth Strategies - Tianshan Cement is expanding its non-clinker business, which has increased from 12% in 2020 to 37% in the first half of 2025, enhancing the overall stability of its operations [8]. - The company is also developing its overseas business, with a compound annual growth rate of nearly 21% from 2021 to 2024, and a significant increase in revenue in 2025 due to new projects [27]. Additional Important Insights - The company’s valuation is currently at a historical low, with a price-to-book (PB) ratio of 0.5, compared to the industry average of 0.74 [3][28]. - The market perception is cautious, with concerns about continued demand decline and high costs, but the company’s management believes in the potential for recovery through cost control and policy execution [29][30]. - The company’s strong shareholder structure, with nearly 90% held by the top ten shareholders, provides it with valuation flexibility [6]. Conclusion - Tianshan Cement is positioned to benefit from industry reforms and has demonstrated resilience through effective cost management and strategic expansion. The company’s financial health and commitment to shareholder returns further enhance its attractiveness as an investment opportunity.

Summary of the Conference Call for Weida Nano Industry and Company Overview - Weida Nano is positioned in the semiconductor equipment industry, specifically focusing on ALD (Atomic Layer Deposition) and CVD (Chemical Vapor Deposition) technologies. The company has rapidly gained market recognition since entering the CVD product line in 2023, aiming for a significant shift in revenue structure from photovoltaic equipment to semiconductor equipment [2][3][4]. Key Points and Arguments - **Market Position and Growth**: Weida Nano's ALD equipment is now among the top tier in China. The company expects CVD high-temperature mask production to maintain an annual output of 300-400 million yuan from 2024 to 2025. In Q1 2023, ALD titanium nitride products generated over 300 million yuan in orders, fulfilling over 90% of customer demand [2][3][4]. - **Revenue Transition**: The revenue structure is shifting from photovoltaic equipment, which currently accounts for 80%, to semiconductor equipment, with expectations that semiconductor revenue will rise to 30%-40% in the next two years. The company has issued 1.1 billion yuan in convertible bonds and implemented stock incentives to support this transition [2][4][5]. - **Order Growth**: As of August, new semiconductor orders totaled approximately 1.4 billion yuan, with a projected total of 1.7 billion yuan for the year, reflecting a year-on-year growth of about 70%. CVD products accounted for around 400 million yuan of this total [7][8]. - **Client Concentration**: The top few clients account for 70%-80% of total orders, with a significant focus on clients in Wuhan, where the domestic production rate is rapidly increasing [9]. - **Technological Advancements**: The company is expanding its product offerings in ALD materials beyond titanium nitride to include aluminum oxide and silicon oxide, with a focus on high-k materials. The company has a strong foothold in the storage sector, generating annual sales of 400-500 million yuan from Hike products [3][15]. - **Market Drivers**: The demand for semiconductor equipment is expected to exceed market expectations due to the growth in AR computing power, the upgrade of Chinese chip manufacturers to advanced processes, and the acceleration of domestic production. The expansion of storage and logic chip manufacturers is a primary driver of this demand [5][6]. - **Future Projections**: The company anticipates a minimum growth rate of 50% in semiconductor orders over the next two years, with targets of 2 billion yuan for this year and 2.5-3 billion yuan for the next year [3][18]. Additional Important Insights - **CVD and ALD Product Breakdown**: CVD products have signed orders of approximately 400 million yuan, while the remaining orders are primarily for ALD products. The company is also introducing LPCVD equipment, totaling nearly 1 billion yuan in orders [8][11]. - **Supply Chain and Localization**: The company has achieved about 80% localization in its supply chain, with rapid development in domestic suppliers. The remaining components primarily come from Europe [31][32]. - **Profit Margin Expectations**: The company reported a gross margin of 27%-28% last year, below the industry average of 45%-50%. However, it expects margins to improve as products mature and production scales up [33][34]. - **Stock Incentives and Management Confidence**: The recent stock incentive plan reflects the company's confidence in future growth, with a target of increasing semiconductor orders by 35% annually [6][36]. - **Market Conditions in Photovoltaics**: The photovoltaic industry is currently in a phase of adjustment, with no expansion plans for 2024 and 2025. The company is focusing on maintaining core R&D processes and exploring new developments to prepare for future market recovery [24][25].

Summary of G-bits Conference Call Company Overview - G-bits has demonstrated strong performance in the gaming sector, particularly in the idle game market, with key titles such as "Wandao" and "Yinian Xiaoyao" being major profit sources, providing support for the company's stock price increase [2][3][7] Core Insights and Arguments - The newly launched games "Wanjian" and "Zhangjian" in 2025 have shown impressive results, with "Zhangjian" generating 424 million yuan in revenue within 33 days, significantly enhancing the company's valuation. The expected profit for Q3 is projected to reach 500-600 million yuan, marking a substantial year-on-year growth [2][10] - G-bits is highly regarded in the market due to its straightforward business model and commitment to shareholder returns through strong cash flow and dividends, attracting interest from TMT and consumer funds [2][7] - "Wandao," which has been active for nearly 10 years, continues to thrive due to its unique theme and the company's operational capabilities. "Yinian Xiaoyao," launched in 2021, also shows long-term sustainability, contributing to G-bits' high valuation [2][8] Additional Important Content - G-bits has a robust product pipeline and operational highlights, utilizing an integrated research and operation model, particularly excelling in idle games. The company also benefits from investments in other gaming companies, such as Xindong [4][5] - The company's stock price has seen significant growth from 2021 to 2023, driven by the ongoing success of "Yinian Xiaoyao" and the recent launches of "Wanjian" and "Zhangjian" [6] - The gaming industry is currently driven by earnings per share (EPS) rather than valuation premiums, indicating a strong growth outlook with high safety margins [13] - G-bits is expanding into different gaming genres, including Rogue-like and mini-games, and is optimistic about the upcoming SLG title "Jiumu Zhi Yan," despite lower profit retention from agency products [14] Future Outlook - G-bits is expected to maintain strong growth in the coming quarters, supported by new product cycles and community engagement initiatives. The company’s performance is projected to double from over 900 million yuan in 2024 to nearly 1.7 billion yuan in 2025, with a PE ratio of 20-25 times, indicating no significant valuation premium [11][15]

Summary of Desheng Technology Conference Call Company Overview - Desheng Technology focuses on AI applications in various sectors including employment, healthcare, and government services, leveraging its self-developed AI models and platforms [2][4][28]. Key Industry Insights AI Applications - Desheng Technology has developed an AI foundation that supports multiple scenarios such as employment, healthcare, and government services, enhancing service delivery and operational efficiency [2][4][28]. - In healthcare, the company partnered with China UnionPay to create a seamless payment platform, which has been successfully implemented in Guangzhou [2][6][19]. - In the employment sector, Desheng Technology assists governments in building digital employment platforms, focusing on job matching and support for college graduates and flexible workers [2][4][6]. Data Element Market - The company is cautiously participating in the data element market, helping governments operate data exchanges while ensuring compliance with policies and data security [2][5][7][8]. - Desheng Technology has achieved a global certification for its data asset management system, allowing it to provide services across various industries [9]. Social Security Card Business - As the leading company in social security cards, Desheng Technology has issued over 500 million third-generation social security cards, with a potential for 800 million more [10]. - The company is focusing on building a service network for social security cards, collaborating with banks to enhance customer acquisition and service delivery [10][11]. Financial Performance and Strategy - The company is adjusting its strategy to address the decline in traditional business by establishing a grassroots service network and leveraging AI and big data technologies [11][12]. - Desheng Technology aims to achieve over 50% of its revenue from new business areas to offset declines in traditional sectors [22][24]. Management and Organizational Changes - Recent appointments of key management personnel with extensive experience in social security and AI are expected to drive innovation and operational improvements [23][26]. Future Directions - Desheng Technology plans to enhance its data service capabilities and expand into other industry sectors, aiming to create a comprehensive service ecosystem [30]. - The company is optimistic about achieving significant operational results by the end of 2025, particularly in the healthcare sector [19][20]. Additional Insights - The company emphasizes the importance of AI in optimizing internal management and external services, aiming to reduce operational costs and improve service efficiency [3][18]. - Desheng Technology is actively working on addressing social issues arising from the flexible employment market by collaborating with legal and training institutions to provide comprehensive services [17]. Conclusion - Desheng Technology is strategically positioned to leverage AI and data services across various sectors, with a strong focus on enhancing its operational capabilities and expanding its market presence. The company's proactive approach to management changes and market adaptation is expected to yield positive results in the coming years.