Core Viewpoint - Fengmao Co., Ltd. has successfully acquired a state-owned land use right for 72.77 million yuan to build an "Intelligent Chassis Thermal Control System Production Base (Phase I)" project, marking a significant step in its capacity layout in the core components of the new energy vehicle sector [1] Group 1: Land Acquisition and Project Development - The acquired land will leverage the mature industrial ecosystem in the surrounding area, which is home to an automotive parts industry cluster, facilitating reduced production and logistics costs [1] - The company plans to invest no more than 1.5 billion yuan in the construction of the production base, with the land acquisition being a critical step from planning to implementation [1] Group 2: Financial Performance - In the first half of 2025, the company reported approximately 432 million yuan in revenue and about 60 million yuan in net profit, indicating a gradual recovery in operations [2] - In Q2 2025, revenue reached approximately 237 million yuan, reflecting a quarter-on-quarter growth of 20.78%, while net profit increased by 10.59% to around 32 million yuan [2] Group 3: Strategic Expansion - The establishment of the Intelligent Chassis Thermal Control Production Base is a key move for the company to expand into the automotive new business sector, with plans for a "dual-base linkage" capacity layout [2] - In addition to the new base in Yuyao, the company will also build a commercial vehicle parts production base in Jinan, focusing on core components for commercial vehicles [2] Group 4: Product Development - The company is accelerating the development of a diversified product matrix, including lightweight air spring products for passenger vehicles and thermal management components for electric vehicles [3] - A notable order of 170 million yuan has been secured from a well-known domestic automaker, covering a project cycle from 2025 to 2031, which supports stable revenue growth [3] Group 5: Growth Logic and Market Strategy - The company is focusing on its core transmission system business while expanding into international markets, with a new production base in Thailand set to begin operations in the second half of 2025 [4] - The domestic transmission system revenue for the first half of 2025 was approximately 170 million yuan, showing a year-on-year growth of 19.44%, highlighting the resilience of the main business [4] Group 6: Non-Automotive Sector Expansion - The company is actively exploring new growth points in non-automotive sectors, including partnerships in the low-altitude economy and rail transportation [5] - A dedicated robotics division has been established, with sales of transmission and sealing system components already initiated, indicating a multi-track growth strategy [5]
丰茂股份7277万竞得余姚4.7万㎡地块，加速布局新能源汽车智能底盘热控系统产能