Investment Rating - The report does not explicitly state an investment rating for the industry or the specific company being analyzed [1]. Core Insights - The company achieved a market share of approximately 19% in the Chinese passenger car onboard charger market in 2024, ranking second, while holding a 29% share in the third-party supply market, maintaining the top position since 2020 [20]. - The company has established a strong presence in the overseas market, exporting to notable clients such as Stellantis, Renault, Aston Martin, and Ferrari, with export product profitability slightly higher than domestic products [20]. - The company is actively seeking new clients and expanding into new business areas, including partnerships in the flying car sector and collaborations in the yacht and motorcycle industries [21]. - The company is progressing with its Thailand production base project, expected to commence production in 2026 with a design capacity of 300,000 to 400,000 units [21]. - In 2024, the company reported total revenue of 6.38 billion yuan, a year-on-year increase of 15.51%, while net profit decreased by 19.63% due to increased R&D investments [22]. - The company has a strong competitive edge in onboard power products, with core technologies including magnetic integration control, output port circuit integration, and V2X technology [22]. Summary by Sections 1. Basic Research Information - The research was conducted on March 3, 2025, focusing on the company 威迈斯 [13]. 2. Detailed Research Institutions - Participating institutions included Guolian Fund, Tianhong Fund, Huatai Securities, and CITIC Securities among others [14][15]. 3. Research Institution Proportions - The report does not provide specific data on the proportions of research institutions involved [18]. 4. Main Content Information - The company disclosed its 2024 annual performance report on February 28, 2025, detailing its operational performance and strategic planning [20]. - The Q&A session revealed insights into market share, overseas clients, new customer development, production plans, R&D strategies, and share repurchase progress [20][21][22].