YUNNEI POWER(SZ:000903) Quan Jing Wang·2025-05-15 06:30Core Viewpoint - In 2024, Yunnei Power maintains a strong leading position in the diesel engine segment while actively pursuing transformation in traditional internal combustion engines and new energy strategies, focusing on technological innovation in diesel engines, hybrid systems, and hydrogen fuel cells, alongside developing emerging business projects centered on intelligent and green manufacturing to support the company's upgrade and sustainable development [1][6]. Group 1: Company Overview - Yunnei Power, established nearly sixty years ago, is a joint-stock listed company initiated by Yunnan Internal Combustion Engine Factory, with its actual controller being the Kunming State-owned Assets Supervision and Administration Commission [2]. - The company has solidified its position in the engine business, achieving breakthroughs in key core technologies, lightweight design, energy efficiency, and new product development, with its engine products reaching advanced domestic levels in economic efficiency, reliability, and environmental protection [2][4]. - As of December 31, 2024, the company holds 335 valid patents in the engine field, including 231 utility model patents, 68 design patents, and 36 invention patents [2]. Group 2: Product Performance and Revenue - In 2024, the company achieved a revenue of 4.731 billion yuan, with engine products generating 3.962 billion yuan, accounting for 83.75% of total revenue, while parts and other products contributed 556 million yuan, representing 11.74% [4]. - The company's diesel engines meet national emission standards, with series "90, 95, 100, 102" achieving National IV standards, showcasing excellent power, economy, and reliability [4]. - The company has established a production capacity of 850,000 engines annually, positioning it as a leader in the industry [5]. Group 3: Quality Management - The company operates under the IATF16949:2016 quality management system, ensuring product quality stability through rigorous control at every management stage, from raw material procurement to production and inspection [3]. - It has received numerous accolades, including being recognized as a national advanced typical enterprise for integrity and a benchmark enterprise for product and service quality [3]. Group 4: New Energy and Intelligent Manufacturing - The company is actively expanding its new energy business, focusing on hybrid, range-extended, dual-fuel, and hydrogen fuel cell products, aligning with the "dual carbon" strategy [6]. - In 2024, the company launched hybrid products in collaboration with major automotive manufacturers and is developing a comprehensive product system for fuel cells [6]. - The company is also advancing in intelligent manufacturing, with projects like smart rubber tapping machines and L4-level intelligent delivery vehicles, having received testing licenses for autonomous delivery vehicles in Kunming [7].