ZHEJIANG SHIBAO(SZ:002703)2025-04-02 09:16Group 1: Revenue and Profit Growth - The company's revenue and net profit have significantly increased, primarily driven by the electric and intelligent steering system products [1] - In 2024, R&D expenses totaled ¥15,902,458.85, accounting for approximately 5.93% of operating income [2] - The production capacity for traditional steering products remains high, while new product capacity is adjusted based on market demand [3] Group 2: R&D Investments and Innovations - The company focuses R&D resources on safety, intelligence, energy-saving, and lightweight technologies for steering systems [2] - The company has achieved mass production of the Rack Electric Power Steering (R-EPS) system and is advancing projects for intelligent steering systems [3] - Future R&D will emphasize lightweight design and integration with autonomous driving technologies [2] Group 3: Production Capacity and Efficiency - Zhejiang Shibao has four major production bases in China, with an annual production capacity of approximately 4.5 million steering systems [3] - The company is optimizing production layout and enhancing efficiency through automation and lean management [4] - Measures to reduce costs include optimizing organizational structure, modular development, and expanding centralized procurement [4] Group 4: Market Position and Challenges - The company has improved gross margin through the mass production of high-value new products [4] - The automotive industry faces intensified competition, with price adjustments from OEMs impacting the supply chain [4] - The company is aware of recent stock price fluctuations and is monitoring the situation closely [4]