在华发展方面，采埃孚自20世纪80年代开启布局，至今已经构建近50家生产基地与5家研发中心的 完整体系，实现"中国销售→中国制造→中国研发→中国引领"的跨越。 截至目前，采埃孚在全球布局161个生产基地，不仅服务于大众、宝马等跨国整车企业，还与几乎 每家本土的老牌企业，以及像蔚来、理想、小鹏、小米、零跑等新势力车企建立了深度合作。百年 品牌的技术积淀与全球资源整合能力，共同构筑起其不可替代的行业壁垒。 近日，《财富》中国新媒体执行主编谢菁炜对话采埃孚集团执行副总裁、中国区总裁及亚太区运营 总裁汪润怡。采访中，汪润怡表示，采埃孚在亚太市场的增长，并非偶然的"风口红利"，而是源于 对市场需求的精准洞察与敏捷响应。 当前，中国汽车市场正在从"规模红利"向"创新红利"转型，而采埃孚无疑正在以"中国加速度"书写 着百年巨头的新传奇，推动"行业巨轮"在变革中稳健前行。 以下为对话实录， 为简洁表述经过编辑。 《财富》：当前全球汽车行业正处于重大变革阶段，众多零部件企业面临较大经营压力，但采埃孚 亚太区却实现了逆势增长。请问采埃孚是如何达成这一成果的？又采取了哪些关键战略调整来支撑 这样的增长？ 自1915年以航空齿轮技术 ...

Core Viewpoint - AT&S reported a total revenue of €1.59 billion for the fiscal year 2024/2025, reflecting a 3% year-on-year growth despite price pressures and global trade uncertainties [1][2]. Financial Performance - The company's revenue increased from €1.55 billion in the previous fiscal year to €1.59 billion [1]. - EBITDA saw a significant rise of 97%, increasing from €307 million to €606 million, primarily due to the sale of the Korean factory [1]. - Adjusted EBITDA, excluding the impact of the Korean factory sale, was €408 million, up 6% from €384 million in the previous fiscal year [2]. Market Environment - The ongoing trade tensions, particularly between the U.S. and China, are viewed as the largest uncertainty affecting the market [2][5]. - Demand in the mobile devices, computers, and communication infrastructure sectors remains stable, while the automotive sector is stagnant and the industrial sector is weak [2][5]. - Price pressures in the printed circuit board (PCB) and semiconductor packaging sectors continue, although the decline in PCB prices is less severe than in the previous fiscal year [2][5]. Strategic Initiatives - The company is focusing on cost optimization and efficiency improvements to counteract market pressures and inflation [2]. - AT&S is implementing a "local for local" strategy in China to enhance market resilience and capitalize on local opportunities [6]. - The company plans to balance production capacity across its global manufacturing network, which includes facilities in China, Malaysia, Austria, and India [7]. Future Outlook - AT&S is preparing for future demand recovery by ensuring that its new factory in Malaysia is ready to start production quickly when needed [7]. - The company acknowledges the growing interest from Chinese clients in its advanced technologies, emphasizing that the Chinese market remains a core business area [7].

Group 1 - Joint venture car manufacturers are making significant advancements in smart driving technology through collaborations with domestic suppliers, which they promote as a competitive advantage [2][3] - Volkswagen Group's investment in Horizon and the establishment of a joint venture to provide autonomous driving solutions for the Chinese market exemplify the efforts of joint venture car manufacturers to enhance their smart driving capabilities [3] - The introduction of advanced features in models like the Buick Electra E5, including the new VCS smart cockpit system and Super Cruise driver assistance system, highlights the aggressive push of joint venture brands in the smart technology arena [3][4] Group 2 - The increasing penetration of new energy vehicles (NEVs) and the rapid rise of domestic brands are pressuring joint venture car manufacturers to enhance their smart technology offerings [4][5] - The long decision-making chains of joint venture manufacturers, which were manageable in the traditional fuel vehicle era, hinder their ability to adapt quickly to the fast-changing NEV market [5][10] - The collaboration between joint venture manufacturers and domestic smart driving suppliers is seen as a necessary trend to improve their technological capabilities and market competitiveness [7][10] Group 3 - The concept of "Chinese content" or "含华量" is gaining attention, referring to the proportion of local technology components in vehicles, which reflects the commitment of joint venture manufacturers to enhance their smart technology [7][10] - The potential emergence of a "new joint venture era" is suggested, where competition and collaboration coexist between joint venture and domestic brands in the NEV market [9] - Joint venture manufacturers are also seeking partnerships beyond domestic suppliers, indicating a shift towards a more open and diverse collaboration landscape in the automotive industry [9][10]