WFHT(000581) Xinda Securities·2025-06-01 07:03Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report discusses the establishment of a joint venture and its implications for market competitiveness [2][4]. Core Insights - The company is establishing a joint venture, 威孚保隆科技有限公司, with 合肥保隆, with a registered capital of 400 million RMB, where 威孚金宁 will contribute 220 million RMB (55%) and 合肥保隆 will contribute 180 million RMB (45) [2]. - The joint venture aims to leverage 威孚金宁's technology in active suspension systems and 合肥保隆's experience in air suspension systems to enhance market competitiveness and operational efficiency [4]. - The report highlights the growing importance of active suspension technology in the automotive industry, driven by advancements in sensors and electronic control systems, which provide improved driving comfort and handling [4]. Summary by Sections - Joint Venture Establishment: 威孚金宁 and 合肥保隆 are forming a joint venture to enhance their capabilities in the active suspension market, with 威孚金宁 holding a majority stake [2]. - Market Opportunities: The report emphasizes the favorable policy environment for the promotion of active suspension systems, aligning with national support for new energy and smart vehicles [4]. - Strategic Focus: The company is prioritizing the development and mass production of suspension motor pump projects as a key strategic business area [4].