Q&A 星宇股份在未来三年内的投资前景如何？ 星宇股份在未来三年内具有战略性配置价值。首先，公司的估值经过近年来的 消化，目前在汽车零部件板块中处于低估状态。其次，公司在智能化、全球化 以及机器人新业务拓展方面具备显著优势，有望形成多重共振。此外，公司董 事长及海外业务团队近期在欧洲进行了重要客户拜访，预示着全球化进程将进 一步加速。因此，星宇股份作为一个低估且稀缺的标的，值得投资者重点关注。 星宇股份在海外市场的发展情况如何？ 今年以来，星宇股份的全球化发展明显提速。公司早在 2020 年前就开始筹划 塞尔维亚工厂，并于前几年投产。今年，公司新获得了奔驰、斯柯达和宝马 1 系、2 系尾灯项目，以及之前获得的宝马 5 系尾灯全球项目，这些项目将在 2026 年实现量产。预计来自欧洲的收入将大幅提升。此外，公司近期拜访了 9 个欧洲客户，拓展了多个潜在项目，总采购金额达到数亿欧元。公司计划于 2026 年开始规划新的欧洲工厂，以满足日益增长的需求。这些举措表明星宇 股份国际化进程加速，海外收入占比将持续提升。 星宇股份 20251010 摘要 星宇股份全球化进程加速，欧洲市场收入预计大幅提升。公司已获得奔 驰、 ...

Summary of Conference Call Records Industry Overview - The conference call focused on the automotive industry, particularly the electric vehicle (EV) and intelligent driving sectors, as well as the automotive parts industry in regions like Anhui and Changzhou [1][2]. Key Points and Arguments Electric Vehicles and Intelligent Driving - Top choice for investment in the EV and intelligent driving sectors is Topology, with Horizon as the preferred choice for intelligent incremental components, followed by Desay and Huayang [1][2]. - Jianghuai Automobile's new model S800 is expected to launch at the end of May 2025, with a conservative monthly sales estimate of 1,000 units, potentially reaching 2,000-3,000 units in stable conditions [1][4]. Automotive Parts Industry - The automotive parts sector is experiencing structural changes, with a focus on companies showing performance inflection points and those with low valuations, recommending companies like Xiangyu and Jifeng [2][3]. - Ankai Bus is entering a profit release phase, targeting a revenue of approximately 3 billion yuan for the year, reflecting the competitive landscape in the bus industry [2][10]. Company-Specific Insights - Berteli is projected to see a revenue increase of about 30% in 2025, with significant growth in EPB (30%), line control (40%), and lightweight components (70-80%) [1][9]. - Newyu is transforming its customer base, gaining orders from major clients like Geely and North American EV customers, with expected revenue from its Serbia factory of 400-500 million yuan this year [2][11]. - Newquan is expected to achieve a revenue of over 17 billion yuan in 2025, with Chery and Tesla as its largest clients [2][12]. Regional Developments - The Anhui region is seeing rapid development in the robotics industry, with companies like Anhui Heli and Aifert collaborating closely with Huawei to advance industrial automation [1][5][6]. - Companies like Jujie and Ruiyu are focusing on welding automation and industrial robot applications, showcasing strong business synergies [1][7]. Future Projections - Jianghuai's partnership with Huawei involves significant investment, with a total expected investment reaching 10 billion yuan, aiming for breakeven by 2027 [1][4]. - Berteli's new product launches include EMB products expected to enter mass production in 2026, with a focus on key components in the robotics sector [1][9]. Additional Important Information - The competitive landscape in the bus market is intense, with Ankai targeting Southeast Asia, Central Asia, and the Middle East for exports [2][10]. - Newyu's strategic focus on high-value automotive lighting products is expected to enhance its market position, particularly in the North American market [2][11]. - Newquan's acquisition of Wuhu Lichi is aimed at consolidating its market position and driving business growth [2][12]. This summary encapsulates the key insights and projections from the conference call, highlighting the dynamics within the automotive industry and specific company strategies.