Customer Distribution - The company's products, including nickel strips, foils, and precision structural components, are primarily used in lithium batteries and metal commemorative coins [3] - Terminal applications include consumer electronics, power tools, cordless home appliances, aerospace, coinage, new energy vehicles, and energy storage [3] - In the coinage and aerospace sectors, customers are terminal application manufacturers: Shenyang Mint for coinage products and the 18th Research Institute of China Electronics Technology Group Corporation for aerospace products [3] - Other customers are mainly precision structural component processors and battery manufacturers, with a higher proportion of precision structural component processors [3] TCO Product Performance - TCO (Thermal Cut-off) is a thermal protection device used in battery module temperature protection systems for laptops and tablets [3] - The company invested in the TCO product line in 2020, with sales increasing year by year [3] - Sales in 2020 were nearly 2 million yuan, reaching 50 million yuan in 2021, with growth exceeding 20% in both 2022 and 2023 [3] - Sales in 2024 are expected to double compared to 2021 [3] - Terminal customers for TCO products are mainly Lenovo and Dell, supplied through customers like Zhuhai CosMX and CATL [3] Raw Material Impact - Electrolytic nickel prices dropped from nearly 230,000 yuan at the beginning of 2023 to around 130,000 yuan by the end of the year, a decrease of about 45% [4] - Nickel prices remained relatively stable from January to September 2024, positively impacting the company's gross margin compared to 2023 [4] Solid-State Battery Impact - The company's nickel strips, foils, and precision structural components are mainly used for current transmission outside the battery cell [4] - Solid-state batteries, which use solid electrodes and electrolytes, do not significantly affect the application of the company's products as only the electrolyte form changes [4] Competitive Advantages and Future Outlook - The company has a unique advantage in the "material + product" integrated industrial chain, with parent company Yuanhang Precision producing nickel strips and foils, and subsidiary Jintai Ke further processing these materials [4] - With nearly 20 years of experience in the nickel strip, foil, and battery precision structural component industry, the company has accumulated a large number of high-quality customer resources and maintained a high market share [4] - The company holds multiple invention patents, mainly in production processes, ensuring product quality and technological leadership [4] - Through IPO fundraising, the company is expanding production capacity, improving production intelligence, and enhancing economies of scale [4] - The company is optimistic about the industry's prospects due to the expanding battery application scenarios driven by new intelligent products like flying cars, AIPC (AI personal computers), and smart robots [4]
远航精密(833914) - 投资者关系活动记录表