格隆汇2月25日丨通达动力(002576.SZ)在互动平台表示，截至目前，公司在新能源汽车驱动电机铁芯配 套业务方面与比亚迪进行长期合作。 ...

格隆汇2月25日丨通达动力(002576.SZ)在互动平台表示，截至目前，公司在新能源汽车驱动电机铁芯配 套业务方面与比亚迪进行长期合作。 ...

Group 1 - The core viewpoint of the article highlights that Tongda Power considers BYD as an important client, providing it with electric motor iron cores for new energy vehicles [2] - The company aims to actively seize industry opportunities and leverage its technological and customer resource advantages to achieve high-quality business development [2]

Core Viewpoint - The explosive growth of the new energy vehicle (NEV) industry is reshaping the global automotive supply chain, with significant sales and market penetration expected to continue in the coming years [1][2]. Group 1: Market Dynamics and Growth Potential - In 2025, the retail sales of new energy passenger vehicles are projected to reach 11.472 million units, representing a year-on-year growth of 19.6%, with a penetration rate of 59.3% in November, marking a historical high [1]. - The global precision stamping core market reached 112.11 billion yuan in 2023, with expectations to grow to 263.70 billion yuan by 2030, reflecting a compound annual growth rate (CAGR) of 12.82% from 2024 to 2030 [2]. - The automotive application segment accounts for 28.51% of the precision stamping core market, serving as a key driver for industry growth [2]. Group 2: Company Overview and Strategic Positioning - Huaxin Precision Technology Co., Ltd. (stock code: 603370) has established itself as a leader in the precision component manufacturing for NEV power systems, collaborating closely with major automotive manufacturers like BYD and BMW [1][4]. - The company has diversified its product matrix to include NEV drive motor cores, micro-special motor cores, electrical equipment cores, and ignition coil cores, with a strong customer network covering both domestic and international markets [4]. Group 3: Financial Performance and Market Share - In 2024, NEV drive motor cores are expected to account for 64.70% of the company's revenue, with sales increasing from 561,600 units in 2021 to 2,222,100 units in 2024, resulting in a global market share increase from 5.59% to 8.12% [5]. - The company ranks among the top three domestic manufacturers in both global and Chinese automotive core markets, with the top ten manufacturers holding a combined market share of 75.54% globally and 78.11% in China [5]. Group 4: Technological Advancements and Competitive Edge - Huaxin Precision has adopted innovative in-mold gluing technology to address industry challenges, enhancing the performance of drive motor cores by reducing eddy current losses and improving efficiency [6][9]. - The company has expanded its customer base significantly since 2021, securing projects with leading global firms and deepening collaborations with existing partners, which supports sustained revenue growth [7]. Group 5: Future Growth and Strategic Initiatives - The NEV market is expected to continue its robust growth, with the total installed capacity of NEV drive motors in China projected to reach 15.229 million units in 2024, a year-on-year increase of 40.04% [10]. - The company plans to utilize raised funds for expanding production capacity and research, focusing on new energy vehicle drive motor cores and precision stamping technology, which will enhance its competitive position [12][13]. - Huaxin Precision aims to establish a global presence by setting up subsidiaries in Singapore and Mexico, facilitating localized supply services for international clients [13].

Core Viewpoint - The company has production capabilities for servo motor cores and self-adhesive motor cores, currently supplying electric vehicle drive motor cores to BYD and maintaining a long-term partnership with GE in the motor core business [1] Group 1 - The company actively captures industry opportunities and leverages its technological and customer resource advantages [1] - The company aims to achieve high-quality business development [1]

Core Viewpoint - The collaboration between BYD and Huawei in the robotics sector focuses on building an embodied intelligence industry ecosystem, emphasizing technology iteration through supply chain division of labor [1] Group 1: Collaboration Details - BYD's approach involves a "hardware springboard + cloud brain" model, concentrating on algorithm optimization and scene implementation [1] - Huawei aims to enhance ecosystem integration and standard formulation within the partnership [1] Group 2: Company Relationships - BYD is identified as a significant customer for the companies involved, with a specific mention of the servo motor iron cores produced by the company being extensively used in BYD's robotic drive motors [1] - Tongda Power (002576.SZ) confirmed its capability for large-scale production of servo motor iron cores, although it currently supplies iron cores for BYD's electric vehicle drive motors [1]

Core Viewpoint - The company has the capability for large-scale production of servo motor cores, currently supplying electric motor cores for new energy vehicles to BYD [1] Group 1 - The company expresses gratitude for suggestions and indicates a proactive approach to capturing industry opportunities [1] - The company aims to leverage its technological and customer resource advantages to achieve high-quality business development [1]

Core Insights - Longsheng Technology (隆盛科技) has shown steady growth in its operating performance, with significant increases in revenue and net profit for the first three quarters of 2025 [1][2] Financial Performance - For the first three quarters of 2025, Longsheng Technology achieved revenue of 1.81 billion yuan, a year-on-year increase of 10.13%, and a net profit attributable to shareholders of 210 million yuan, reflecting a growth of 36.89% [2] - In Q3 2025, the company reported a net profit of 106 million yuan, marking a remarkable year-on-year increase of 109.83%, setting a new record for quarterly profit [2] - The net cash flow from operating activities for the first three quarters of 2025 was 148 million yuan, up 15.46% year-on-year [3] Asset Growth - Longsheng Technology's total assets have grown significantly, increasing approximately 7.66 times from 462 million yuan at the end of 2017 to 4.21 billion yuan by the end of September 2025 [1][5] - The company's revenue has also seen substantial growth, rising from 150 million yuan in 2017 to 2.397 billion yuan in 2024, representing an increase of about 15 times [5] Business Expansion - The company has developed a business matrix centered on EGR systems, electric vehicle drive motor cores, and precision automotive components, while also exploring emerging fields such as aerospace precision manufacturing and humanoid robotics [1][8] - Longsheng Technology has made strategic acquisitions, including the purchase of Weiyan Precision in 2018, which has helped extend its presence in both traditional and new energy vehicle component markets [6][7] Research and Development - Longsheng Technology has consistently increased its R&D expenditures, which rose from 29.96 million yuan in 2020 to 92.86 million yuan in 2024, with a 6.45% increase to 68.34 million yuan in the first three quarters of 2025 [8] - The company holds approximately 400 valid patents and 13 software copyrights as of June 2025, reflecting its commitment to innovation [9]

Core Viewpoint - The company, Huaxin Jingke (603370.SH), emphasizes that precision stamping iron cores are its core products, which include various applications in the new energy vehicle sector and other industries [1] Product Overview - The main products of the company consist of precision stamping iron cores, specifically for new energy vehicle drive motors, micro-special motors, electrical equipment, ignition coils, and other types of iron cores [1] - Micro-special motor iron cores can be applied in aerospace and nuclear power fields, although the company has not yet entered the nuclear power industry [1]

Core Viewpoint - The company, Huaxin Precision Technology (603370.SH), emphasizes that precision stamping iron cores are its core products, which include various applications in the new energy vehicle sector and other industries [1] Group 1 - The main products of the company include iron cores for new energy vehicle drive motors, micro-special motors, electrical equipment, ignition coils, and other types of iron cores [1] - The micro-special motor iron cores can be applied in aerospace and nuclear power fields, although the company has not yet entered the nuclear power industry [1]