SINYUAN ZM(SZ:301398) Zhong Guo Ji Jin Bao·2025-11-04 15:20Core Viewpoint - Company received a supplier designation notification from an unnamed domestic electric vehicle manufacturer to develop and supply magnesium alloy powertrain casing components for electric vehicles, with expected sales of approximately 2.021 billion yuan over four years from 2026 to 2029 [1][3]. Group 1: Project Details - The project is set to begin mass production in the third quarter of 2026, with a total sales amount projected at about 2.021 billion yuan over four years [3]. - This new project, if realized, would represent approximately five times the company's projected revenue of 409 million yuan for 2024 [3]. - The company has previously announced similar supplier notifications, but none have reached this financial scale [3][4]. Group 2: Financial Performance - The company's revenue for the first three quarters of this year was 292 million yuan, and it is projected to be 409 million yuan for 2024 [3]. - The company has experienced a decline in net profit of about 20% this year, recording 45.07 million yuan [6][7]. Group 3: Market Position and Strategy - The company focuses on innovative design and application of lightweight materials in the automotive parts industry, highlighting its competitive advantage in the magnesium alloy powertrain components sector [3]. - The recent supplier notification reflects the client's high recognition of the company's core R&D capabilities, precision manufacturing, and comprehensive service levels [3]. Group 4: Capital Raising - The company is currently issuing convertible bonds with a scale of 450 million yuan, which may enhance investor confidence following the announcement of the significant project [7].