证券之星消息，2025年7月30日汇通控股(603409)发布公告称信达澳亚商柔芷、南方基金杨惠冰于2025 年7月29日调研我司。 具体内容如下： 问：各个模块产品的单车配套价值量有多少？ 答：公司造型部件模块包括格栅、保险杠、饰条等产品，单车配套价值量可以做到1300元左右，声学产 品模块包括顶棚、地毯、隔音隔热垫、行李箱盖板等产品，单车配套价值量可以做到1200元左右。内外 饰件产品整体单车价值约2500元，公司正积极拓展新的产品品类，提高单车配套价值量。 Q2近两年，公司声学产品营收增长幅度为什么比较大？今年预计声学产品营收增长情况？ 2024年公司汽车声学产品收入46,454.64万元，同比增长126.73%，收入增量主要系来自福州和大连生产 基地配套的系列产品销售收入增加所致。公司为了提升快速响应能力和覆盖范围，跟随主机厂就近配 套，布局多个外地生产基地，提升公司产能，并凭借技术优势和品牌效应获取大量声学产品订单，带动 公司整体收入规模的提升。 Q3为什么这两年向声学产品发展，是因为觉得市场规模大？ 保险杠产品是整车车身的重要组成部分，其作用为当整车与其他车辆或障碍物发生碰撞时能保护车身， 并具有 ...

Investment Rating - The report assigns a rating of "Increase Holding" for the company, indicating a potential upside of over 15% relative to the CSI 300 index [43]. Core Viewpoints - The company, Huitong Holdings (603409.SH), is a leading manufacturer of automotive styling and acoustic components in China, with a significant market share in its core products. The company has established long-term partnerships with major clients such as BYD and Chery, and is actively expanding its customer base and product offerings [3][7]. - In 2023, the company achieved revenue of 765 million yuan and a net profit of 152 million yuan, with a compound annual growth rate (CAGR) of 35.38% in revenue and 63.62% in net profit from 2021 to 2023 [3][9]. - The company plans to raise 810 million yuan through its IPO, which will be used to enhance production capacity and digital transformation [6][33]. Summary by Sections Company Overview - Huitong Holdings specializes in the research, production, and sales of automotive styling components, acoustic products, and wheel assembly services. The company has a strong foothold in the domestic market, serving major automotive manufacturers [3][31]. Financial Performance - The company reported revenues of 417.20 million yuan in 2021, 628.32 million yuan in 2022, and 764.59 million yuan in 2023, with a projected revenue of 445.06 million yuan for the first half of 2024. The net profits for the same years were 56.91 million yuan, 162.14 million yuan, and 152.36 million yuan, respectively [9][12]. - The gross margin has consistently remained above 30%, with specific margins for automotive styling components reaching 49.50% in 2022 [17][21]. Market and Industry Analysis - The automotive parts market is expected to grow steadily, with the total market size for passenger car grilles estimated at approximately 5.8 billion yuan and for acoustic products at around 30 billion yuan [27]. - The competitive landscape in the grille and wheel assembly sectors is fragmented, with many small to medium-sized enterprises participating [30][31]. Client Base and Sales - The top five clients accounted for 94.37% of the company's revenue in the first half of 2024, with Chery and BYD being the largest contributors [26][37]. - The company has established long-term relationships with several major automotive manufacturers, which supports its revenue stability and growth potential [7][31]. IPO and Fund Utilization - The IPO will involve the issuance of 31.51 million shares, representing 25% of the total share capital post-IPO. The funds raised will be allocated to expanding production capacity and enhancing digital capabilities [33][34].