苏轴股份(430418) - 投资者关系活动记录表

Group 1: Investor Relations Activity - The investor relations activity was held on February 14, 2025, at two locations: Shangri-La Hotel and Kempinski Hotel in Shanghai [3] - Participating institutions included major securities firms and asset management companies, with a total of 20 attendees [4] Group 2: Product Overview - The company produces needle roller bearings, which are used in various sectors including new energy electric drives, industrial automation, aerospace, and defense [4] - Key applications in the automotive sector include steering systems, active safety systems, and new energy electric drive systems [4] Group 3: Product Characteristics - Needle roller bearings are characterized by their long and thin cylindrical rolling elements, with diameters typically less than 5mm [5] - They are classified into radial, axial, and combined load directions [5] Group 4: Supply Chain and Major Clients - The upstream supply chain includes bearing steel and manufacturing equipment, while the downstream includes automotive, aerospace, and industrial automation sectors [6] - Major clients include global automotive suppliers such as Bosch and ZF, with over 45% of revenue coming from exports [6] Group 5: Technological Innovation - The company focuses on specialized and innovative development, enhancing R&D capabilities through collaboration with clients like Bosch [7] - Investments in automation and digitalization are ongoing, including upgrades to ERP systems [8] Group 6: Financial Performance - The gross margin increased due to stable growth in overseas clients and favorable currency exchange rates, with cost reductions from economies of scale [9] - New projects, such as RV reducers, have entered small batch supply stages [10] Group 7: Market Strategy - The company plans to increase its focus on the domestic market, particularly in high-end supporting businesses [11] - There are preliminary investigations into potential acquisitions related to the bearing industry, but no substantial progress has been made yet [12] Group 8: Impact of Electric Vehicles - The transition to electric vehicles has minimal impact on the company's needle roller bearing usage, as their products are primarily used in steering and braking systems [13]