Shanghai Automobile Air-(SH:603107) Xin Lang Cai Jing·2025-10-09 07:45Core Viewpoint - The company, Shanghai Automotive Air Conditioning Parts Co., Ltd., is focusing on expanding its international market presence and enhancing its core competitiveness through strategic investments and partnerships in the automotive parts sector, particularly in the context of new energy vehicles and global supply chains. Company Overview - Shanghai Automotive Air Conditioning Parts Co., Ltd. was established on July 8, 1992, and is located at 1188 Lianxi Road, Pudong New District, Shanghai. The company specializes in the research, development, production, and sales of automotive air conditioning pipes and fuel distribution pipes [7]. - The company's main business revenue composition includes automotive thermal management system products (79.38%), automotive engine system products (18.86%), and others (1.76%) [7]. Market Position and Financial Performance - As of June 30, the company had 31,100 shareholders, a decrease of 3.46% from the previous period, with an average of 7,023 circulating shares per person, an increase of 3.59% [8]. - For the first half of 2025, the company achieved operating revenue of 1.065 billion yuan, a year-on-year increase of 3.54%, while the net profit attributable to the parent company was 83.4766 million yuan, a year-on-year decrease of 18.47% [8]. Strategic Developments - The company plans to establish a wholly-owned subsidiary in Morocco with an investment of no more than 100 million yuan, aimed at enhancing its international strategy and overall competitiveness [2]. - The company has established long-term stable relationships with globally recognized engine manufacturers, including BorgWarner and NPP ITELMA LLC, which require strict supplier certification processes [2][3]. Product Development - The company's R&D department has over 30 years of experience and has quickly adapted to market changes, successfully launching air conditioning pipe products that meet new energy vehicle quality standards [3]. - The automotive air conditioning pipe products are widely used in various traditional fuel models and have become a major supplier for first-tier new energy vehicle air conditioning pipes [3]. Technical Analysis - The average trading cost of the company's shares is 16.16 yuan, with recent chip reduction slowing down. The current stock price is near a resistance level of 15.73 yuan, indicating potential for a price correction if this level is not surpassed [6]. Investment and Funding - The company has cumulatively distributed 202 million yuan in dividends since its A-share listing [8].