Haosen(SH:688529)2024-11-28 08:44Group 1: Competitive Landscape - Major overseas competitors include Japan's Hirata and Hanwha, and European suppliers like KUKA and Comau, who maintain a conservative growth strategy [4] - Chinese companies possess larger teams and more flexible expansion capabilities, leading to greater production scale and faster market response [4] - The company has secured over 50 overseas customer orders since its inception, showcasing its extensive project experience [4] Group 2: Market Trends - There is a cautious shift in investment expectations among overseas clients in the new energy sector, although many continue to invest in electric vehicles [5] - The electric vehicle penetration rate in Southeast Asia and Latin America is low but growing rapidly, supported by government initiatives [5] - Overall, the demand for equipment suppliers in the overseas new energy vehicle market remains steady, indicating significant potential [6] Group 3: Business Strategy - The company is expanding into humanoid robotics to address industry pain points and adapt to rapid technological changes in the new energy sector [7] - Humanoid and autonomous mobile robots are expected to revolutionize traditional automotive production methods, allowing for greater flexibility and efficiency [7] - The integration of humanoid robots, AMR, and AI aims to create a highly modular and flexible production system [7] Group 4: R&D and Innovation - A humanoid robot innovation center has been established in Changzhou, focusing on industrial applications, particularly in powertrain assembly [8] - The company is developing specialized tools to enhance the application of humanoid robots, aiming to reduce development complexity and improve stability [8] Group 5: Project Advantages - The automotive core component assembly process is well-suited for humanoid and autonomous mobile robots due to its clear workflow and moderate weight [9] - As humanoid robots move towards commercialization, integrated equipment suppliers are expected to play a leading role in automation solutions [9] Group 6: Payment Models - The domestic payment model is structured as 30% upfront, 30% upon delivery, and 30% upon final acceptance, with a 10% warranty retention [11] - For overseas clients, the payment model typically involves no upfront payment, with 90% due upon delivery and 10% upon final acceptance [11]