Group 1: Current Client and Production Status - The company has secured project designations from overseas clients, including Renault, Stellantis, and a major European luxury brand, for its vehicle high-voltage power supply products [1] - The development cycle for these products is lengthy, with some client projects still in the R&D phase, expected to gradually enter mass production starting in 2024 [1] - The company aims to enhance its overseas market share and core competitiveness as projects enter mass production [1] Group 2: Industry Competition Landscape - The supply chain in the sector is divided into two main categories: independent third-party suppliers with strong R&D capabilities and manufacturers incubated by vehicle manufacturers with stable partnerships [2] - The industry has high entry barriers in terms of core technology, experience, and talent accumulation, leading to a gradually stabilizing competitive landscape [2] - Chinese automotive companies have established a first-mover advantage in the electrification wave, enhancing the global competitiveness of component manufacturers [2] Group 3: Strategies for Domestic Market Competition - The domestic automotive market faces significant competitive pressure, which is expected to gradually transmit through the supply chain, typically resulting in annual declines [2] - The company has implemented various measures to address current market conditions, including technological innovation, solution iteration, and production improvements to achieve cost reduction [2] Group 4: Overseas Expansion Efforts - The company established a wholly-owned subsidiary in France in 2021, equipped with an international professional team to serve existing clients and address market and technical needs [2] - In the first half of this year, the company began establishing a production base in Thailand, with factory site selection completed and progress being made in accordance with local laws and regulations [2]
富特科技(301607) - 2024年10月24日投资者活动关系记录表