Group 1 - The core business of the company is focused on the research, production, and sales of automotive parts, with a strong competitive advantage in scale, product range, R&D capabilities, customer coverage, and resource layout [1] - The company has adjusted its market, product, and corporate structures to establish a core product lineup that includes chassis systems, thermal systems, new energy, intelligent networking, engine accessories, steering and safety systems, braking and transmission systems, and fasteners [1] - The company emphasizes its commitment to the automotive parts sector and plans to focus on application aspects in the humanoid robot field, given the significant differences in application scenarios, technical standards, and performance requirements between the two sectors [1] Group 2 - Fusay Company, a subsidiary of the company, is a strategic resource in the fields of intelligent cockpits, autonomous driving, and connected technologies, having established R&D teams in Changchun and Dalian [2] - The subsidiary has successfully integrated into the supply chains of major automotive manufacturers such as Hongqi, Volkswagen, and Toyota, achieving rapid revenue growth through its core products like screens, instruments, radars, antennas, and intelligent domain controllers [2] - The company is pursuing international development by acquiring a German fastener company to deepen its integration into the local automotive supply chain, aiming to absorb advanced technologies and expand its business coverage [2] Group 3 - The company announced its participation in the Qizhi Automotive Industry Chain Venture Capital Fund, with a total fund size of 1 billion yuan, contributing 100 million yuan to the investment [3] - The fund aims to invest in emerging business sectors, including the flying car project of Qiyu Technology, positioning the company to tap into the trillion-level flying car market [3] - This investment is seen as a foundation for cultivating new growth drivers and establishing substantial industrial linkages [3]

Company Overview - Fawer Automotive Parts Co., Ltd. is located in Changchun High-tech Zone, Jilin Province, established on October 6, 1988, and listed on September 29, 1993. The company specializes in the research, design, manufacturing, sales, and after-sales service of automotive parts and related products [1]. Financial Performance - For the first half of 2025, Fawer achieved operating revenue of 7.857 billion yuan, representing a year-on-year growth of 3.37%. However, the net profit attributable to shareholders decreased by 4.07% to 304 million yuan [2]. - Cumulatively, the company has distributed 3.739 billion yuan in dividends since its A-share listing, with 1.118 billion yuan distributed over the past three years [3]. Stock Performance - As of September 18, Fawer’s stock price was 5.63 yuan per share, with a market capitalization of 9.683 billion yuan. The stock has increased by 13.05% year-to-date but has seen a decline of 0.53% over the last five trading days and 8.60% over the last 20 days [1]. - The stock experienced a net outflow of 1.2098 million yuan in principal funds, with significant buying and selling activity from large orders [1]. Shareholder Information - As of August 20, the number of shareholders increased to 27,400, with an average of 0 circulating shares per person [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited was the fifth-largest circulating shareholder, holding 48.9235 million shares, an increase of 8.3894 million shares from the previous period [3]. Business Segmentation - The main revenue sources for Fawer include: chassis systems (48.85%), fasteners and other products (18.73%), automotive electronic systems (15.62%), thermal systems (8.96%), engine accessory systems (7.98%), braking and transmission systems (3.40%), and steering and safety systems (1.86%) [1].

Core Viewpoint - Fuyao Co., Ltd. is focusing on enhancing its core competencies in the automotive parts sector, emphasizing independent R&D and strategic planning to align with market trends and customer needs [1][2][3] Group 1: Company Overview - Fuyao Co., Ltd. specializes in the R&D, production, and sales of automotive parts, holding significant advantages in scale, product range, R&D capabilities, customer coverage, and resource layout [1] - The company has established a complete industrial chain layout, focusing on chassis, automotive electronics, thermal systems, and shock absorbers, while strengthening its core technologies [1] Group 2: Strategic Collaborations - The company has formed deep collaborative partnerships with FAW Group, establishing joint ventures for intelligent steering and suspension products, leveraging existing R&D foundations and resources [2] - This collaboration aims to accelerate the mass production of fully electric products and integrate market channels, manufacturing capabilities, and R&D resources [2] Group 3: Market Development - Since the 14th Five-Year Plan, Fuyao has prioritized external market development, significantly increasing external market revenue from 14% at the beginning of the 13th Five-Year Plan to 30% [3] - In 2024, the company secured 307 new orders, with 142 from external markets, achieving an external order revenue share of 48%, and over 80% of new energy orders covering various product series [3] - The company plans to continue expanding its external market efforts and optimize its customer structure to strengthen its market share in the new energy and intelligent sectors [3]

Group 1: Strategic Partnerships and Product Development - The company established joint ventures with FAW Group for intelligent steering and suspension systems to accelerate the mass production of fully electric products, supporting the "big chassis" strategy [2] - The company has developed C-EPS and DP-EPS products, which have received domestic orders and entered mass production, while R-EPS samples have been completed [3] Group 2: Market Position and Competitive Advantages - Founded in 1998, the company has advantages in scale, product range, R&D capabilities, and customer coverage, positioning itself as a mixed-ownership automotive parts listed company [3] - The company has established 10 provincial technology centers and 1 municipal technology center, along with 11 CNAS-recognized laboratories, enhancing its R&D strength [3] Group 3: Market Expansion and Revenue Growth - The company has significantly increased its external market revenue share from 14% at the beginning of the 13th Five-Year Plan to 30%, with external orders accounting for 48% of total orders in 2024 [4] - In 2024, the company secured 307 new orders, with 142 from external markets, and over 80% of new energy orders covering various product lines [4]