在工程机械绿色转型的浪潮中，朗高电机已凭借领先的技术实力走在行业前沿。 作为国内新能源商用车及工程机械专用电机领域的领军企业，朗高电机在第十七届北京工程 机械展上重磅展示了全新扁线电机平台解决方案，包括扁线定子绕组、新能源宽体矿卡主驱 电机（扁线）、装载机高速液压电机（扁线）、装载机高速行走电机（扁线），以及新能源 宽体矿卡增程发电机、电动轮矿卡轮边多相电机等系列整机与零部件产品，成为展会瞩目的 焦点。 在当前工程机械领域绿色化、高效化、智能化转型的关键时期，朗高电机扮演着怎样的角 色？又是如何确立其在新能源商用车电机行业的标杆地位？通过与朗高电机相关负责人的深 度对话，答案逐渐清晰。 直击行业痛点 全方位覆盖多元场景 与主要在铺装公路运营的商用车不同，工程机械车辆多服役于泥泞、坑洼等野外极端恶劣环 境，这对车辆的动力性能和作业效率提出了极高要求。同时，严苛的作业环境常常需要电机 及零部件在强振动冲击、高原、低温、泥浆淹没等极端条件下正常运行，对产品的可靠性和 环境适应性构成严峻考验。 为满足客户对高效运营的追求，朗高电机专为工程机械行业创新推出了新一代扁线电机，适 配新能源宽体矿卡和新能源装载机。与传统圆线 ...

Core Insights - The transition to electric vehicles (EVs) is driven by global energy transformation and carbon neutrality goals, with flat wire motors emerging as a key technology in the EV sector [2][3] - Flat wire motors have surpassed traditional round wire motors due to their high power density, low losses, and strong heat dissipation capabilities, marking a significant shift in the electric drive system landscape [2][3] Industry Developments - The development of flat wire motors has been accelerated by policy support, market demand, and technological breakthroughs, with significant contributions from government subsidies and carbon emission regulations [3] - The global competitive landscape has shifted from foreign companies like Bosch and Nidec to the rapid rise of Chinese firms such as BYD and Xiaomi, which have introduced advanced technologies in flat wire motors [3] Technological Innovations - Breakthroughs in materials, such as the domestic production of rare earth permanent magnets, have significantly reduced costs and improved performance, enhancing the power density of motors [4] - The application of carbon fiber rotors has led to a 40% weight reduction compared to traditional steel rotors, with multiple manufacturers adopting this technology [4] Design and Manufacturing Advances - The design of flat wire motors has improved significantly, with slot fill rates increased to 75%-80%, resulting in over 30% improvement in copper wire filling efficiency [5] - Domestic companies have overcome challenges in insulation coatings and forming processes, enabling large-scale production and cost advantages [6] Thermal Management and Cooling Technologies - Cooling technologies have evolved from passive to intelligent temperature control systems, significantly enhancing heat dissipation efficiency [7] - Huawei's intelligent oil cooling technology exemplifies advancements in thermal management, optimizing energy consumption through real-time adjustments [7] Future Outlook - The evolution of flat wire motors represents a leap in China's automotive industry, showcasing a shift from following to leading in global automotive power technology [10] - The integration of energy, information, and thermal management systems in future electric drive units will drive the transition towards intelligent and zero-carbon transportation [10]

Group 1: Company Overview - The company, Yinchuan Weili Transmission Technology Co., Ltd., specializes in precision reducers and is currently constructing an intelligent accelerator factory [2]. - The company has achieved ISO9001 and IATF16949 international quality management system certifications, ensuring high product quality and reliability [3]. Group 2: Financial Performance - In Q1 2025, the company's revenue increased by 284.46% year-on-year, attributed to a significant rise in market share and sales volume [3]. - Despite the revenue growth, net profit saw a substantial decline due to increased management costs (including depreciation and amortization) and rising sales and R&D expenses [3]. Group 3: Project Developments - The intelligent accelerator factory is currently under construction, with financing primarily sourced from internal funds and project loans [3]. - The "Thousand Villages and Ten Thousand Towns Wind Action" project is expected to boost sales of wind turbines and expand demand for upstream products, with the company having developed products for wind turbines below 6MW [3]. Group 4: Market Expansion - The company is actively enhancing its international marketing channels and has established global service points in key regions such as Hamburg, Chennai, and Tokyo [3]. - The company has successfully entered the supplier lists of renowned international wind power companies, including Siemens Gamesa and Adani [3]. Group 5: Subsidiary Development - The company is developing its subsidiary Weima's business, focusing on electric drive systems for new energy vehicles, with plans to enter small batch and mass production collaborations [3].

Summary of Key Points from the Conference Call Company Overview - **Company Name**: 星帅尔 (Xing Shuai Er) - **Main Business**: Protection devices and starters, with a domestic market share of approximately 50% and a global market share of about 35% [2][5][23] - **Key Clients**: Major compressor and complete machine enterprises globally, including Midea, Haier, and Bosch [2][5] Financial Performance - **Q1 2025 Performance**: - Revenue reached 503 million yuan, a year-on-year increase of 8.37% - Total profit was 75 million yuan, up 28.56% - Net profit attributable to shareholders was 64 million yuan, an increase of 21.73% [4][11] Business Segments and Market Share - **Main Products**: Protection devices and starters for compressors, used in refrigerators, air conditioners, and other appliances [5] - **Market Position**: The company is a standard-setting unit in the industry and has UL certification [5] Recent Acquisitions and Business Expansion - **Acquisitions**: - Acquired Huajing Electronics, Xinduan, and Zete Motor to expand into sealed terminal blocks, temperature controllers, and new energy vehicles [2][7] - Yellow Mountain Fule's photovoltaic module sales increased from 100 million yuan to 2 billion yuan [2][8] Industry Challenges and Strategies - **Impact of Trade War**: Anticipated reduction in orders for white goods in May due to trade tensions; the company is considering transshipment trade and production layout in regions with lower tariffs [13][14][15] - **Cash Flow Management**: Cash flow is affected by extended payment terms in the photovoltaic industry; the company has shifted to cash payments for auxiliary materials to reduce costs [18][19] Future Growth and Development Focus - **Growth Projections**: The company expects a steady growth rate of 15% in the coming years, with the home appliance sector providing stable cash flow [3][23] - **New Applications**: Expansion into new markets such as Africa and new applications like car refrigerators [3][22] - **Electric Motor Business**: Plans to develop special motors and military orders, with a focus on humanoid robots [9][16][17] Photovoltaic Business Insights - **Q1 2025 Performance**: Photovoltaic business revenue was approximately 300 million yuan, contributing a net profit of 13 million yuan [12] - **Production Capacity**: Current capacity includes 1 GW at Huangshan and 0.75 GW at a new facility, with plans for future investments as market conditions improve [21] Conclusion - **Overall Outlook**: The company is well-positioned for future growth with a focus on innovation, market expansion, and strategic management of challenges posed by external factors such as trade wars and cash flow pressures [20][23]

Core Insights - In 2024, the Chinese electric vehicle (EV) industry is expected to show strong growth driven by policy support and consumer upgrades, with production and sales reaching 12.888 million and 12.866 million units respectively, marking year-on-year increases of 34.4% and 35.5% [1] - The company, Jingjin Electric, is capitalizing on industry opportunities, achieving total revenue of 1.305 billion yuan in 2024, a year-on-year growth of 50.64% [1] Revenue Growth and Business Performance - Jingjin Electric's revenue from electric drive systems reached 1.16 billion yuan, up 47.68% year-on-year, with passenger vehicle drive systems contributing 730 million yuan, a significant increase of 82.75% [2] - The company also reported a net cash flow from operating activities of 12 million yuan, reflecting a substantial improvement of 103.74% year-on-year, indicating enhanced cash flow quality [2] Technological Advancements and R&D - Jingjin Electric possesses a complete layout in the electric drive system sector, with core technologies such as efficient motor technology and oil-water hybrid cooling technology, achieving efficiency improvements of 1% to 3% and weight reductions exceeding 10% [3] - In 2024, the company invested 110 million yuan in R&D, accounting for 8.51% of its revenue, and added 12 domestic invention patents and 36 overseas patents, bringing the total to 720 [3] Market Demand and Strategic Partnerships - The demand for electric drive systems is increasing, with the market share of new energy vehicles surpassing 50% in the second half of 2024, and plug-in hybrid vehicles accounting for 40% of sales [4] - Jingjin Electric maintains deep collaborations with leading domestic automakers and has expanded its international partnerships with companies like Stellantis and Ford, targeting high-volume projects in the European market [4] Future Outlook and Strategic Focus - The Chinese EV market is projected to grow over 30% in 2025, with trends leaning towards larger batteries and extended range [5] - The company plans to enhance its R&D in three-in-one electric drive systems and silicon carbide controllers, strengthen partnerships with top domestic and international clients, and optimize its manufacturing system to improve cost control and delivery capabilities [5]