证券日报网讯1月6日，硕贝德（300322）在互动平台回答投资者提问时表示，公司的天线、线束、散热 等产品均可应用于机器人领域；公司的低轨卫通天线可应用于手机、汽车、船舶等地面终端产品，目前 收到的低轨卫通天线订单主要应用于船舶领域；公司已成功进入国内重要汽车客户的供应链体系，能为 客户提供GPS/北斗/高精度定位、LTE/5G/V2X、蓝牙/WIFI，以及毫米波雷达天线等车载产品；公司有 给台湾客户送样服务器液冷板等散热产品，目前正在测试中。 ...

据报道，国内汽车零部件企业宁波拓普集团（601689）股份有限公司(601689.SH)正考虑通过在香港联 交所上市募集约10亿美元(约78亿港元)，相关筹备工作正在推进中。若最终成行，将成为今年汽车供应 链领域规模较大的境外融资项目之一。截至目前，宁波拓普集团尚未对相关上市计划作出官方回应。 公开资料显示，宁波拓普集团是一家以科技驱动为核心的平台型汽车零部件企业，业务覆盖汽车动力底 盘系统、饰件系统及智能驾驶系统等多个细分领域。公司在轻量化底盘、NVH控制、电子电控等方面 具备较强研发实力，近年来在新能源汽车零部件布局上亦持续加码。 拓普集团已与多家国内外主流整车厂建立长期合作关系，包括奥迪、宝马、通用、福特、大众、吉利等 国际及中国主流汽车品牌，并参与多款全球车型的平台化研发与供货体系。公司在全球多地布局生产基 地和研发中心，以支持不断增长的国际化业务需求。 ...

Group 1 - Neta Auto's management has proposed a "Management Entrustment Plan" to be submitted for creditor voting, aimed at maintaining asset value and "dual qualifications" for vehicle manufacturing, with voting scheduled from November 25, 2025, to December 12, 2025 [2] - Xiaomi Auto's VP Li Xiaoshuang clarified that there is no M7 model, responding to rumors about an accident involving a vehicle associated with Xiaomi, emphasizing that the company only has models like YU7 and SU7 [2][3] - Tesla's global VP Tao Lin refuted claims regarding the exclusion of Chinese components from its supply chain, stating that supplier selection is based on unified standards across all production bases, regardless of geographic origin [3] Group 2 - Tesla's supply chain strategy focuses on quality, total cost, technological maturity, and long-term supply continuity, with over 95% localization rate for parts in the Shanghai Gigafactory, enhancing competitive pricing for Model 3 and Model Y in China [3] - Recent rumors about a "C7 driver's license" allowing the operation of low-speed electric vehicles have been debunked by Chengdu traffic police, confirming that only C1 to C6 licenses exist according to national regulations [4]

Core Insights - China's role in the global automotive supply chain is becoming increasingly prominent, particularly in key component areas where it has established itself as a center for incremental supply chain growth [1][3] - The latest data indicates that China's power battery installation accounts for nearly 70% of the global total, maintaining a leading position for several consecutive years [1] - The automotive industry is undergoing unprecedented transformation, with a focus on reconstructing an open, resilient, and sustainable supply chain system [1] Group 1: Key Components and Challenges - Power batteries, chips, and software are becoming focal points of global competition within the automotive supply chain [2] - Despite China's scale advantage in the power battery sector, challenges arise from upstream resource monopolies and rapid technological iterations [2] - The domestic automotive chip industry is rapidly emerging, with companies like Horizon and Huawei becoming significant players in automotive computing chips, although the self-sufficiency of smaller chips needs to accelerate [2] Group 2: Future Projections and Strategies - By the end of the 14th Five-Year Plan, China's annual automotive production is expected to reach 40 million units, with domestic sales around 27 to 28 million units and overseas sales exceeding 12 million units, accounting for approximately 45% of the global total [3] - The proportion of Chinese components used in vehicles, referred to as "Chinese content," is anticipated to continuously increase, regardless of the vehicle's production location [3] - Recommendations for building an open and resilient supply chain ecosystem include promoting vehicle platform and supply chain combinations, creating a flexible supply chain network that supports both global collaboration and regional autonomy, and integrating core technologies through joint ventures [2]

Core Insights - Hesai Technology has secured the largest overseas mass production lidar order from a top European OEM, covering both fuel and new energy vehicles [2] - The importance of the Chinese automotive supply chain is increasing among overseas OEMs, with a focus on selecting the best suppliers from China [2] - Currently, 7 out of the top 10 global automotive manufacturers listed in the Fortune Global 500 have established mass production partnerships with Hesai [2]

Core Insights - The semiconductor giant Nexperia, a key supplier in the automotive industry, is facing challenges that may disrupt the global automotive supply chain [1][2] - Volkswagen has announced plans to halt production at its Wolfsburg plant, affecting popular models such as Golf, Tiguan, and Touran, with the German automotive industry potentially facing a production halt of 10 to 20 days [1] - Nexperia produces billions of chips annually and serves major automotive clients including Volkswagen, Mercedes-Benz, BMW, and Tesla, indicating its critical role in the supply chain [1] Industry Impact - The Japanese Automobile Manufacturers Association has reported that a Dutch semiconductor manufacturer has indicated potential delivery issues, which could severely impact global production for its member companies [2] - The European Automobile Manufacturers Association has warned that unresolved trade and intellectual property disputes surrounding Nexperia could lead to production interruptions for European automakers [3] - The American Automotive Innovation Alliance has expressed similar concerns regarding the potential impact on the U.S. automotive industry [3] Company Response - Nexperia's China division has stated that the recent dismissal of a senior executive by its Dutch headquarters has no legal effect in China, asserting that operations in China remain normal and unaffected by external decisions [3]

Group 1 - The company is not a direct supplier to Tesla but supplies some products indirectly through Tier 1 customers [1] - The inquiry from an investor highlights interest in the company's relationship with Tesla [1] - The company's response indicates a cautious approach to investor communication regarding partnerships [1]

Core Viewpoint - The shift in the automotive supply chain in Southeast Asia is significant as Toyota begins sourcing parts from Chinese manufacturers, enhancing cost competitiveness against Japanese firms [2][3]. Group 1: Market Dynamics - Chinese auto parts manufacturers have lower costs by 20-30% compared to Japanese firms, potentially leading to the exit or downsizing of some Japanese companies [6]. - Toyota plans to use Chinese parts in its new electric vehicles (EVs) produced in Thailand starting in 2028, marking a pivotal change in the Southeast Asian automotive supply chain [2][5]. - The market share of Japanese cars in Thailand has dropped to 71% from 90%, while Chinese cars have increased their share to 16% as of January-May 2025 [2]. Group 2: Strategic Partnerships - Toyota has initiated procurement of parts from Chinese companies, including a partnership with Wuhu Yuefei New Sound Absorbing Materials, establishing a joint venture in Thailand [3]. - The company is encouraging Japanese parts manufacturers to adopt Chinese products to reduce costs, indicating a strategic shift in sourcing [5]. Group 3: Industry Trends - The number of Chinese auto parts manufacturers in Thailand has quadrupled since the end of 2017, with approximately 190 companies now present compared to 1,400 Japanese firms [6]. - The automotive supply chain in Southeast Asia, historically dominated by Japanese firms, is facing increased competition from Chinese manufacturers, particularly in the EV sector [8].

Summary of Conference Call Company and Industry Involved - The conference call primarily focused on **Xpeng Motors** and its new model **Mona** [1][2] Core Points and Arguments - **Pricing and Market Expectations**: The pricing for the Mona model was significantly above market expectations, with an anticipated price around **RMB 155,800** [1] - **Sales Performance**: Initial sales figures indicated approximately **12,000 units** sold within the first hour of launch, with the Max version accounting for **83%** of sales [2] - **Sales Forecast**: Xpeng's total sales for Q2 are projected to be between **100,000 to 110,000 units**, while the Mona model is expected to achieve **210,000 units** in annual sales [2] - **Supply Chain Dynamics**: The supply chain, particularly **Bojun Technology**, is highlighted for its flexibility and significant profit potential, with a projected single vehicle value of **RMB 3,500** for the Mona model [3] - **Client Structure**: Bojun's client base includes **Li Auto** (25% share) and **Geely** (15% share), with expectations of increased revenue from new electric vehicle models [4] - **Financial Projections for Bojun**: The revenue forecast for Bojun is between **RMB 5.5 billion to 6.7 billion**, with profits estimated at **RMB 736 million to 885 million** [5] - **Growth Potential**: Bojun is expected to maintain a **43-40% compound annual growth rate**, suggesting a valuation of around **17-18 times** earnings [6] Other Important but Overlooked Content - **Material Trends**: The use of **magnesium alloys** is noted for its cost-effectiveness and weight advantages over aluminum, which could enhance profitability for companies like **Xingren Zhaomei** [7][8] - **Production Capacity**: The production capacity for Bojun is currently high, indicating strong demand and potential for future growth [4][6] - **Strategic Partnerships**: There are strong ties between Xpeng and its suppliers, which may lead to collaborative opportunities in future vehicle features and technologies [9][10]

Core Insights - The demand for intelligent transformation in the new energy sector is driving technological innovation across the supply chain, with companies like CATL, Huawei, and Horizon becoming key players [1] - The relationship between automakers and suppliers is evolving from a traditional buyer-supplier dynamic to a partnership model, emphasizing the importance of a stable supply chain for market competitiveness [1][3] - SAIC Volkswagen has been a significant influence in optimizing supply chains and fostering technological upgrades in the automotive industry over the past 40 years [2][3] Supply Chain Dynamics - The structure of electric vehicles is more centralized compared to traditional fuel vehicles, leading to a reshaping of the automotive supply chain [3] - Traditional suppliers are actively transforming, while innovative suppliers are emerging, particularly in the fields of power batteries and intelligent driving [3] - The collaboration between automakers and suppliers is evolving into a comprehensive cooperative mechanism that spans research, manufacturing, and service [3] Market Competition - The stability of the supply chain is crucial for the quality of the final product and overall market competitiveness, especially in the context of intense price wars [4] - The Chinese automotive industry is facing challenges from price wars that threaten supply chain stability, as highlighted by the China Association of Automobile Manufacturers [4] SAIC Volkswagen's Strategy - SAIC Volkswagen emphasizes the importance of a stable supply chain as a foundation for development, ensuring product quality consistency through rigorous supplier management [5][6] - The company has achieved significant sales milestones, with over 1.2 million units sold in 2024, and a 15.1% year-on-year increase in June sales [6] - SAIC Volkswagen's reputation for quality has led to a perception of its approved components as "exempt from inspection" by other manufacturers [7] Technological Partnerships - SAIC Volkswagen has formed strategic partnerships with leading technology companies to innovate and provide new intelligent mobility solutions [7] - The company is set to launch new models, including the ID.ERA and upgraded versions of popular models, as part of its multi-brand strategy [8]