SANYOU CORP.(300932)2024-10-29 12:51Company Overview - Sanyou Lianzhong Group Co., Ltd. is a high-tech enterprise specializing in the R&D, manufacturing, and sales of relays, ranking second in domestic relay sales according to the China Electronic Components Industry Association [1] - The company has a comprehensive service system covering technology R&D, mold development, manufacturing, production, and after-sales service [1] Industry Insights - The relay industry was primarily dominated by foreign and Taiwanese enterprises before 2000, with no current substitute products available [2] - The global relay market is projected to reach a scale of CNY 50.27 billion by 2025, with an average growth rate of approximately 5.2% from 2020 to 2025 [2] Product Segments - The company’s relay products include general power relays, magnetic latching relays, automotive relays, new energy relays, photovoltaic relays, and signal relays [1] - The company aims to strengthen its general power relay, magnetic latching relay, and mutual inductor segments while expanding into automotive, new energy, photovoltaic, and energy storage relays [1] Export and Market Strategy - The export business accounts for approximately 33% of the power segment [3] - The company is focusing on expanding its overseas sales markets, particularly in South Korea, India, Europe, and North America, while also planning to enter emerging markets in Central Asia, South America, the Middle East, Eastern Europe, and Africa [3] Component Supply Ratios - The self-supply ratios for core components are approximately 25% for plastic parts, 76% for contacts, and 70% for metal parts, with a target to exceed 85% in the future [3] Automotive Sector - The company has a complete product line for automotive relays, new energy, and photovoltaic energy storage, with ongoing collaborations with major clients [4] - Several clients are currently in the trial production, sample submission, and testing stages [4] Automation and Quality Assurance - Automation is expected to enhance product quality assurance, reliability, and consistency, with proprietary equipment developed for fully automated production lines [4]