Dare Auto(SZ:300473)2025-05-26 01:10Group 1: Company Overview - Del Automotive Parts Co., Ltd. is a global automotive parts supplier focusing on NVH, thermal insulation, lightweight products, electric pumps, motors, and automotive electronics [1] - Approximately 70% of the company's revenue comes from its wholly-owned subsidiary, KakuSi, which has over 20 years of experience in the automotive parts industry [1][2] Group 2: Product Development and Innovation - KakuSi has established a New Energy Vehicle (NEV) division to develop products like battery flame retardant covers and electromagnetic shielding for battery packs, successfully supplying well-known OEMs [2] - The company has been advancing solid-state battery technology since 2018, achieving significant milestones including passing third-party safety tests and obtaining a national invention patent in 2024 [3][4] Group 3: Market Position and Competitive Advantage - KakuSi's solid-state batteries are characterized by high safety and stability, with a simple manufacturing process that reduces production costs [4] - The company has a global production and R&D base, allowing it to respond quickly to customer needs and maintain high-quality standards [9] Group 4: Financial Performance - The company's financial reports for 2024 and Q1 2025 indicate continuous improvement, driven by enhanced operational efficiency and rapid revenue growth in the NEV sector [8] - KakuSi's products, particularly in thermal insulation, noise reduction, and lightweight categories, account for nearly 70% of the company's total revenue [8] Group 5: Future Growth Strategies - KakuSi aims to optimize its product structure in line with the electric vehicle trend and has already developed several products for NEVs, including battery protection solutions [10][11] - The company is well-positioned to meet the overseas market demands of leading domestic automakers due to its existing production capabilities in the U.S., Mexico, and Europe [11] Group 6: Product Specifics - The liquid retarder developed by the company can handle 80% of a vehicle's braking needs, enhancing safety and reducing brake system wear [12] - The liquid retarder product has gained recognition from first-line commercial vehicle customers, with production volumes increasing compared to the previous year [12]