Core Viewpoint - The company is a high-quality supplier of automotive forged components, with a strong focus on forging and machining processes, and is expanding its product lines into robotics and aerospace applications [1][2]. Group 1: Company Overview - Established in 2004, the company has developed seven product lines including hub bearings, high-pressure common rail systems, ball joint rods, steering knuckles, fork components, shafts, and others [1]. - The company has gained wide recognition from international automotive parts groups such as ZF and Schaeffler for its production capacity, product variety, and quality [1]. Group 2: Product Development - In April 2025, the company will establish a subsidiary, Wuhu Sanlian Forging Co., Ltd., focusing on a research institute for robotics and aerospace components, with products including planetary gear reducers, screws, shaft teeth, gears, and transmission teeth [2]. - The company employs hot die forging technology, allowing it to independently complete product design, mold design, and manufacturing, giving it a leading edge in precision forging and mold design [1]. Group 3: Customer Relationships - The company has established deep collaborations with several global top 100 automotive parts groups, including Bosch, ZF, Magna, Schaeffler, BorgWarner, Benteler, NTN, American Axle, Linamar, JTEKT, and NSK [2]. - Notably, Bosch, ZF, and Magna rank among the top five in the 2024 global automotive parts supplier list, highlighting the company's strong market position within the industry [2]. Group 4: Investment Outlook - The company is expected to achieve steady growth in performance, with projected net profits of 170 million, 220 million, and 270 million yuan for 2025-2027, corresponding to growth rates of +15%, +28%, and +23% [2]. - The company is initiating coverage with a "buy" rating, based on its deep expertise in forging and machining, and its expansion into new growth areas in robotics and aerospace [2].
三联锻造(001282)：优质汽车锻造件供应商 积极布局机器人领域