Group 1: TBOX Product Overview - TBOX provides various intelligent vehicle networking functions, including remote security alerts, fault diagnosis, control, driving behavior analysis, and over-the-air upgrades [1] - The growth of TBOX products in 2023 is attributed to stable major customers and increased sales of terminal models, leading to a significant rise in smart terminal sales [1] - The company has a relatively low market share, with major competitors being foreign and joint venture brands like Continental, Bosch, Valeo, and LG [1] - The penetration rate of in-vehicle intelligent terminals is expected to increase with the upcoming national standard for the Automotive Emergency Call System (AECS) [1] Group 2: eCall Product Performance - The company has early overseas testing and certification for eCall, being one of the few to obtain EU eCall certification, UN-R144 standard certification, and UAE eCall certification [2] - The rapid growth of eCall products is driven by the increasing export of domestic vehicles and mandatory certification requirements in regions like the EU and the UK [2] - The company has a stable and extensive customer base, including major domestic manufacturers such as SAIC, BYD, Chery, Geely, Great Wall, and NIO [2] Group 3: AECS Standard Development - The AECS standard draft was released on June 18, 2024, and is currently under review, with plans for official implementation by July 1, 2027 [2] - The company is involved in the standard-setting process for AECS [2] - The eCall system is designed to significantly reduce emergency response times and improve traffic accident rescue efficiency [2] Group 4: Automotive Electronics Architecture Trends - The automotive electronic architecture is shifting towards domain-centralized structures, which integrate multiple electronic control unit functions [3] - This shift is expected to lower vehicle costs and development difficulties while shortening integration verification cycles [3] - The intelligent networking terminal is anticipated to become a core component in future automotive electronic architectures, serving as a data communication and security center [3] Group 5: Competitive Landscape - TBOX is a key component in intelligent connected vehicles, with foreign and joint venture suppliers dominating the market [3] - Domestic manufacturers are gradually achieving import substitution as their R&D capabilities improve [3] - Some manufacturers opting for in-house development of core components do not significantly impact the company's operations, as these components are typically used solely for their own models [3] Group 6: Partnerships - The company collaborates with CATL to provide intelligent networking terminals for battery management systems, enhancing data collection and maintenance [3] - The partnership with SAIC began in 2012, with SAIC investing in the company through its venture fund due to positive growth prospects [3] - The collaboration with CATL started in 2018, with investments made by CATL's venture fund based on the company's technological potential [3]
慧翰股份(301600) - 2024年12月3日投资者关系活动记录表（一）