APG(SZ:002284)2025-05-22 07:40Group 1: Company Overview - The company has three main production bases located in Xiaoshan, Anhui Guangde, and Huzhou Anji, with additional bases in Liuzhou, Guangzhou, and Changchun to support vehicle supply [2] - The company is actively supplying brake products to Geely and has seen significant sales growth in recent years [3] Group 2: Product Development - The company has developed a comprehensive solution for corner module technology, integrating wheel hub motors, electronic mechanical brakes (EMB), steering systems, and chassis controllers, enhancing vehicle maneuverability [4] - The company does not sell AEB products separately but enables AEB functionality through its line control braking and EMB products [5] Group 3: Financial Performance - The company's gross margin has improved due to increased domestic vehicle sales and new international projects, alongside ongoing product structure optimization and cost reduction efforts [7] - The projected sales amount for the line control braking product over its five-year lifecycle is approximately CNY 1 billion, with production expected to ramp up in Q1 2026 [8][9] Group 4: Market Strategy - The company plans to expand its market coverage and promote new automotive electronic systems, aiming to secure more projects [9] - The company is prepared to address annual price reduction demands from vehicle manufacturers by optimizing product structure and enhancing internal management [9] Group 5: Technology Roadmap - The company is developing products for both One-box and Two-Box technology routes, ensuring it can provide advanced system solutions for various customer needs in the future [9]