Investment Rating - The report assigns a rating of "Buy" for the company, indicating a positive outlook for investment [6]. Core Viewpoints - The company, Zhejiang Jiezong Technology Co., Ltd., specializes in the research, production, and sales of precision automotive components, particularly focusing on windshield wiper systems, door and window systems, and air conditioning systems [2][4]. - The company has shown consistent revenue growth, with a projected revenue increase of 18.65% and a net profit increase of 8.33% for 2023 [37]. - The automotive parts industry in China is experiencing robust growth, with a significant increase in exports and a strong demand for components driven by the rise of electric vehicles [19][69]. Summary by Sections 1.1 Main Business - The company primarily produces precision automotive components widely used in brands such as Mercedes-Benz, BMW, Audi, Volkswagen, Tesla, BYD, and others [34]. 1.2 Product Introduction - The main products include precision injection-molded gears, wiper systems, window systems, and air conditioning components, which are critical for various automotive applications [31][36]. 1.3 Financial Situation - The company has demonstrated strong financial performance, with revenue and net profit growth over the years. The gross margin was 36.55% in 2022, although it has seen a slight decline from previous years [17][37]. - The company maintains a low debt-to-asset ratio, which was 14.24% in Q3 2023, indicating strong financial health [39][59].
北交所个股研究系列报告：汽车雨刮门窗零部件生产商