道通科技：The 2024 Annual Report of Autel Intelligent Technology Corp., Ltd.

EmbraceAI,DrivetheFuture —ALettertoInvestorsfromtheChairman Dearinvestors, Astimepasses,innovationcontinuestodriveusforward. In2025,Autelwillcelebratetwosignificantmilestones:the20thanniversaryofourfoundingandthe5thanniversaryofourlisting.Atthispivotalmoment,wearefilledwithgratitudeandadeepsenseofresponsibility—gratitudeforthetrustandsupportofourshareholders,andreverenceforthemissionandobligationstheerahasentrustedtous.Lookingback,wehavenavigatedthroughchallenges,usingproductsasourvesselandinnovationasoursail,transitioningfromanindustryexplorertoagloballeader.Today,AIisrapidlyreshapingtheworld,andthefourthindustrialrevolutioniswellunderway.Thewindsofchangearepropellingustowardafutureoflimitlesspossibilities. 2024:EmpoweringBusinesswithAItoAchieveLeapfrogGrowth 2024markedapivotalyearforAutelaswefullyembracedAI.ByleveragingAItoredefineourbusinessvalue,fosteringcollaborativeecosystemsforcommongrowth,andimplementingthestrategyof“AI+VerticalScenarios”,weachievedrecord-breakingresults:operatingrevenueofRMB3,932million(ayear-on-yearincreaseof21%),anetprofitofRMB641million(aremarkableyear-on-yearsurgeof258%),andnetcashgeneratedfromoperatingactivitiesofRMB747million(ayear-on-yearincreaseof72%). Thissuccess reflects the tremendous progress made in three key AI-drivenbusinesssegments: ●PowerSolutions:AI-DrivenRevolutioninEnergyEfficiency WehaveintegratedpowerelectronicsandAItechnologiestointroduceend-to-endsmartchargingnetworksandintegratedPV&ESSmanagementsolutions,advancingglobalsustainabledevelopmentwithourdigitalandintelligentpowersolutions.Thisyear,oursolutionswerehighlyrecognizedbycustomersinNorthAmericaandEurope,andwesuccessfullypartnered with several leading global energy giants,underscoring Autel'sleadershipin the global smart energy sector.In 2024,revenue from our new energychargingbusinessgrewbyapproximately53%year-on-year,accountingforover22%oftotaloperatingrevenue. ●Diagnostics:AIDefiningtheFutureofDigitalDiagnostics Leveragingextensiveindustryexperienceandvastdiagnosticdata,welaunchedthe“DigitalDiagnosticBrain”,whichimprovedfaultdiagnosisaccuracyto98.5%andcreatedtheworld’sfirstopendiagnosticplatformcompatiblewithover95%ofautomotivebrands.In2024,digitaldiagnosticsgeneratedoperatingrevenueofRMB3,042million,markingayear-on-yearincreaseof15%. AInotonlysolidifiedourleadershipintheautomotivediagnosticsmarketbutalsosignificantlyincreaseddemandforonlinesoftwareupgradeservices.Softwarerevenuegrewby 24%year-on-year toreach RMB446 million,witha remarkablegross profitmarginof99%forsoftwareupgradeservices. ●AI-poweredRoboticsSystems:IntegratedAir-GroundSolutionsImplementedinKeyScenarios In2024,Autelestablishedasubsidiary,DaoHeTongTaiRobotics,andsetuptheAutelMaxwellAIClusterandtheAutelMaxwellRoboticsLab.WeintegratedtheDeepSeeklargelanguagemodelandlaidthefoundationforspecializedlargelanguagemodelsandintelligentagentarchitectures.Welaunchedthe"IntegratedAir-GroundClusterIntelligentSolutions"poweredbygenerativeAI. Thisinnovative initiative was rapidly deployed in industries such as energy andtransportation,includingmajorprojectslikethoseinPetroChina’soilfields.ThismarkstheinitialsuccessofthethirdAI-drivengrowthfrontier,fosteringcollaborativegrowthacrossourbusinessecosystems. 2025:AcceleratingAIImplementationandSettingtheStandardforNewQuality Productivity In2025,AutelwillfullyembraceAI,positioningitasthecoredriverbehindourgrowth.WewillfocusontheintegrationofAIintoourbusinessplansandorganizationalpolicies,aimingtobuildthreekeygrowthcurves.Whilemaintaininggloballeadershipindigitaldiagnostics,weaimtobecomeaworld-classinnovatorinintegratedPV&ESSmanagementsolutionsandatrailblazerinintegratedair-groundclusterintelligentsolutions.Additionally,westrivetoleadthecommercialadoptionofAIlargelanguagemodelsspecifictoourindustriesoffocus. ●ContinuingtoTransformDiagnosticsandPowerSolutionswithAI Autelwilldeepen itsfocus onautomotiveadvanceddiagnosticsand new energycharging. Intermsofdigitaldiagnostics,Autelhasalreadydevelopedanindustry-specificlargelanguagemodel and will continue to evolve by building fault analysis agents,diagnosticsagents and omnichannel service agents phase by phase.ThistransformationwillenableashifttowardAgentasaService(AaaS)inautomotivediagnostics.Wewilldevelopanewgenerationofautomotiveadvanceddiagnostic,TPMS,andADASsolutions,improvingbothcustomerexperienceandoperationalefficiency,and further solidifying our position as a global leader in automotiveadvanceddiagnostics. Fordigitalandintelligentpowersolutions,Autelisbuildingenergy-specificlargelanguagemodelsandwilllaunchMaxiCharger,aDCultra-fastchargingplatform,andMaxiPowerX/S,aPV&ESSmanagementsolution.Wewilldevelopplatform-basedandseries-basedintelligentchargingsolutions,includingintelligentchargingagents,sitemanagementagentsandecosystemcoordinationagents,alldesignedtoimprovechargingefficiencyandboostcustomerinvestmentreturns.Weaimtoachievegloballeadershipinsmartenergysolutions. ●BuildingIntegratedAir-GroundClusterIntelligentSolutionswithAI R