BAMC(SH:601137) Zheng Quan Shi Bao Wang·2025-11-07 09:54Core Viewpoint - The company, Bowei Alloy, is shifting its overseas investment strategy from Vietnam to Morocco, planning to invest up to $150 million to establish a production base for special alloy electronic materials, with an expected return on investment of 16.72% [1][2]. Group 1: Investment Details - Bowei Alloy plans to invest no more than $150 million in Morocco to build a production base with an annual capacity of 30,000 tons of special alloy electronic materials [1]. - The project is expected to commence in October 2026, with a construction period of 36 months [1]. - The investment is aimed at meeting the growing overseas demand from Bowei Alloy's global clients, particularly in North America and Europe [2]. Group 2: Strategic Shift - The original plan was to invest the same amount in Vietnam, but this was terminated due to significant changes in international trade policies that affected the project's feasibility [2]. - Morocco is favored due to its lower tariffs on goods exported to the U.S., making it a strategic location for manufacturing [2]. Group 3: Market Demand - The key products from this project will include various connector and semiconductor lead frame materials, which are essential components for smart interconnected equipment, smart terminal devices, new energy vehicles, and semiconductors [1]. - The demand in the downstream market is expected to continue growing, surpassing the new production capacity from the overseas manufacturing base [1]. Group 4: Competitive Landscape - Other companies are also investing in Morocco, such as Redick, which plans to invest $30 million in an automotive bearing production base, and Haomei New Materials, which is collaborating with Lingyun Co. to establish a joint venture for new energy battery casings and structural components [2].