YAPP(SH:603013)2024-08-14 09:07Group 1: Company Overview - The company, Yapu Automotive Parts Co., Ltd., is engaged in the automotive parts industry, focusing on fuel systems and hybrid vehicle technologies [2] - The company has established a strong presence in both domestic and international markets, with a significant customer base including major automotive manufacturers [5] Group 2: Overseas Business Performance - The overseas business has shown improvement due to several factors: smart upgrades of overseas factories, enhanced management efficiency, and a favorable market environment for fuel systems [3] - The global market, excluding China, has slowed down the development of new energy vehicles, with countries like the UK and Germany delaying or reducing subsidies for electric vehicles [4] Group 3: Future Development Strategy - The company aims to embrace the trend of new energy vehicles by developing a dual business model of "energy storage systems + thermal management systems" [5] - Key strategies include stabilizing the core business, deepening traditional fields, and expanding growth-oriented businesses [6] - The company plans to enhance operational efficiency and profitability of overseas subsidiaries while focusing on innovation in traditional sectors [6] Group 4: Market Demand and Product Development - The company has secured projects for plug-in hybrid and range-extended hybrid models from major domestic clients, with a significant increase in new project approvals compared to the previous year [5] - The product portfolio is expanding from traditional fuel systems to include energy management systems, with new divisions established for thermal management and battery systems [6]