【私募调研记录】仁布投资调研超达装备

Group 1: Company Overview - The company, Chaoda Equipment, is a leading domestic supplier of automotive interior and exterior moldings, primarily engaged in the research, production, and sales of molds, automotive inspection tools, automation equipment, and components [1] - The main business focus is on molds, with automotive interior and exterior molds being the primary product category [1] - The company is one of the few in China capable of implementing full-process manufacturing and services for automotive interior and exterior molds [1] Group 2: Financial Performance - In 2024, the company is projected to achieve operating revenue of 721 million yuan, representing a year-on-year growth of 14.91% [1] - The net profit for 2024 is expected to be 96.6 million yuan, with a year-on-year increase of 1.24% [1] - Research and development expenses for 2023 and 2024 are 39.37 million yuan and 43.28 million yuan, respectively, accounting for 6.28% and 6.01% of the operating revenue during the same periods [1] Group 3: Clientele and Market Presence - The company's products are utilized by notable electric vehicle manufacturers such as Tesla, NIO, BYD, and Geely [1] - After the founding team exited, Nanjing Youxu became the controlling shareholder, and Feng Jianjun no longer holds control [1] - The company has subsidiaries in Germany, the United States, and Thailand, with the Thailand project progressing smoothly [1] Group 4: Corporate Decisions - The company has decided not to redeem the "Chaoda Convertible Bonds" early and will not exercise redemption rights within the next six months [1]