CSICPCL(SH:600482)2025-03-23 15:02Summary of Conference Call on Deep Sea Technology and AIDC Industry Industry Overview - The national emphasis on deep-sea resource development has significantly increased, with deep-sea minerals seen as a new direction for development to address reliance on imports of key metals and raw materials for new energy batteries, as well as strategic reserves of rare earths [1][2] - The potential of deep-sea resources is vast, with many located in international waters, leading to lower costs [1] - The development of AI and robotics technology has reduced deep-sea mining costs and increased efficiency, making the use of mining robots for exploration, mining, and even ore selection economically viable [1][2] Company Strengths - The company possesses unique advantages in deep-sea technology, including a strong shipbuilding industry foundation, extensive experience in scientific research vessel construction (e.g., "Dream" vessel), defense equipment technology (e.g., submarine technology), and the application of AI and robotics [1][4] - The company provides integrated solutions for ship power systems, including gas, steam, diesel engines, thermal engines, and all-electric integrated power resources, with rich experience in high-performance batteries for underwater robots (e.g., "Jiaolong" and "Fendouzhe") [1][4][7] Market Opportunities - The development of deep-sea technology will create multiple market opportunities, including: - Mineral exploration and extraction (nickel, cobalt, copper, etc.) [6] - Floating production storage and offloading (FPSO) systems for energy and precious metal extraction [6] - Significant investment in scientific research to validate technological feasibility [6] - National defense and territorial security, requiring substantial investment in underwater communication, submarines, and resource maintenance [6] - Reliable power systems for detection equipment and floating production devices [6] - High-performance batteries as a core power source for underwater robots [6] Strategic Direction - The company plans to align its future development with the national deep-sea technology strategy, focusing on the "Smart Leading Deep Blue" initiative, leveraging smart technology to drive deep-sea development [2][12] - Each listed company under the group will expand according to its main business, collectively focusing on the industrial chain layout [12] Financial Performance and Future Plans - The group’s diesel engine business revenue was approximately 20 billion yuan in 2024, with a gross margin of about 20%, showing improvement from 2023 [13] - The company is exploring new business models, such as leasing or recycling, to penetrate the IDC emergency power market [9] - The company is also expanding its service network for engine aftermarket services, recognizing the potential for significant revenue and profit margins [18] Challenges and Risks - The 301 investigation may significantly impact shipowners, potentially leading to a shift in orders to manufacturers in Japan or South Korea, which could affect the traditional shipbuilding industry in China [20][21] - The company is aware of the need to adapt to market changes and is actively working on strategies to mitigate risks associated with international trade tensions [20] Conclusion - The deep-sea technology sector presents substantial growth opportunities driven by technological advancements and government support, with the company well-positioned to capitalize on these trends through its unique strengths and strategic initiatives [5][12]