华纬科技：2026年1月13日投资者关系活动记录表

Core Viewpoint - The company is expanding its production capacity and diversifying its product offerings, particularly in the automotive and non-automotive sectors, while maintaining a focus on profitability and market share growth. Group 1: Main Product Pricing and Profitability - The company's core products, including suspension springs and stabilizer bars, have a unit price range of 120-200 yuan per vehicle, with an overall gross margin of 27% [1] - The gross margin for suspension components is relatively stable due to minimal impact from raw material price fluctuations, while the stabilizer bar's margin is closely linked to client demand due to high fixed costs associated with custom tooling [1] Group 2: Production Capacity Layout - The company's Chongqing production base is expected to commence operations in the first half of this year, with ongoing ramp-up throughout the year [2] - The production lines for stabilizer bars and springs are currently in the equipment installation and debugging phase, primarily serving key clients in the southwest region, such as Seres and Changan [2] Group 3: Non-Automotive Sector Expansion - The non-automotive business is a significant growth driver, with a strong focus on industrial robots, rail transportation, and construction machinery, particularly emphasizing industrial robots [3] - The company has entered the humanoid robot sector, supplying small springs for hand joints, leveraging its established design and manufacturing capabilities in valve and specialty springs [3] Group 4: Future Growth Path - The company aims to enhance its market share in the domestic stabilizer bar market, which still has considerable room for growth, especially as production capacity is released [4] - The overseas suspension system components market is identified as a blue ocean opportunity, with low participation from Chinese enterprises, prompting the company to actively pursue international business expansion [4] - The company is also focusing on upstream and downstream collaboration, exploring non-metal and new materials to mitigate downstream volatility risks and secure long-term growth [4]