YAPP(SH:603013) Zheng Quan Zhi Xing·2025-05-20 00:13Group 1 - The company is expanding its hydrogen storage system business by developing new customers and markets, including a large-volume IV-type hydrogen storage bottle [1] - The company has achieved advanced performance in its products and has completed certification for its self-developed 35MPa and 70MPa valves, with the 70MPa valve being the first in China certified under the new national standard [1] - The growth of the hybrid vehicle market is expected to boost the company's revenue from related businesses, as hybrid and extended-range vehicles require high-pressure fuel tanks with enhanced structural integrity [1] Group 2 - The company has a strong overseas presence, with its fuel system business expected to see significant growth potential in international markets, where average product prices are typically higher than in the domestic market [1] - Future capital expenditures will focus on upgrading fuel system production lines to meet the rapid growth of hybrid vehicle models and investing in new business areas such as thermal management systems, hydrogen storage systems, and battery pack housings [1]