Autel Technology: AIDC Power Second Growth Curve Accelerates; AI + Robot Inspection Business Enters Harvest Period #Shenwan Electric/TMT

English summary

# SST development included in performance assessment, reflecting technical reserve and confidence #Target 800V# HVDC prototype expected to launch in 26Q3, targeting overseas computing power supply market; SST equity incentive target to complete 35kV/2.5MW SST overall design by 26, achieve SST mass production by 27; #Company has deep technical accumulation in charging pile business, with self-developed charging pile modules. The technical team has Delta background, sharing commonality with SST technology; #Both automotive aftermarket and charging pile businesses are deeply rooted in the North American market. Future SST market expansion is expected to leverage existing customer channels; AI + robot inspection business enters harvest period #Inspection business orders continue to land, covering high-speed, port, railway and other scenarios. AI revenue assessment target is 200 million in 26 and 500 million in 27; #Important organizational change: newly recruited core CEO comes from Alibaba's mature team, skilled in AI commercialization, complementing the company's To G project operation and market promotion capabilities;...