Core Insights - The Chinese automotive industry is undergoing profound changes, with a focus on electric and intelligent transformation, leading to the emergence of specialized companies like Fuhaihe [1][4] Company Overview - Fuhaihe Precision Manufacturing Co., Ltd. specializes in automotive engine components, chassis components, and electric drive components for new energy vehicles, with nearly 20 years of experience in the automotive parts sector [1][4] - The company has successfully entered the supply chains of major automotive manufacturers such as Mercedes-Benz, SAIC Group, and Bosch, with its products used in well-known brands like Tesla and BYD [1][4] Financial Performance - Fuhaihe's revenue is projected to grow from 544 million yuan in 2021 to 856 million yuan in 2024, with net profit increasing from 31 million yuan to 76 million yuan during the same period [2] - The company maintains a high capacity utilization rate, with figures of 98.89%, 98.43%, and 98.83% reported [2] Fundraising and Investment - Fuhaihe plans to raise 330 million yuan, with 270 million yuan allocated for the intelligent production line project for key components in both new energy and traditional vehicles [3] - The company has a solid order backlog of approximately 267 million yuan for the next 12 months [3] Transition to New Energy - Fuhaihe's revenue from electric drive components for new energy vehicles surged from 941,100 yuan in 2022 to 22.02 million yuan in 2024, marking a growth of over 20 times [4] - The company is transitioning from a traditional parts manufacturer to a "future mobility enabler," leveraging its expertise in traditional automotive technology [5] Competitive Advantages - Fuhaihe has developed a robust R&D model that includes independent research, overseas acquisitions, and technological collaboration, holding 103 patents, including 19 invention patents [7] - The integration of digital technologies such as computer simulation and intelligent algorithms into the production process enhances efficiency and product quality [7][8] - The company's international presence and automated production capabilities contribute to its competitive edge in the global market [8]