IAT(SZ:300825)2025-06-29 16:24Company Overview - Altec is the largest independent automotive design company in Asia and the only one listed in A-shares, holding a leading position in the domestic automotive design sector [3] - The company has developed nearly 500 vehicle models for over 80 domestic and international clients, including major brands like Honda, Nissan, and Toyota [3] - Altec provides comprehensive solutions across the entire automotive development and component supply chain, with a typical development cycle of 1.5 to 2 years [3] AI Empowerment Strategy - In 2023, Altec initiated an AI-driven automotive R&D design strategy, aiming to redefine traditional automotive design workflows [4] - The traditional vehicle development cycle has been reduced from 38 months to 22-24 months due to market pressures and shorter product lifecycles [4] - Altec has established partnerships with leading companies like NVIDIA to innovate automotive design technologies [4] International Expansion - In 2024, Altec's overseas revenue reached CNY 111 million, accounting for 11.40% of total revenue, with expectations for growth in international orders [9] - The company has entered the Japanese market through partnerships, including a joint venture for electric vehicle retrofitting, with significant government subsidies supporting this initiative [6][7] - Altec has secured a contract worth approximately CNY 470 million for the production of a pure electric vehicle for a Japanese client [8] Component Business Development - Altec is expanding its core component offerings in power systems, high-voltage electrical systems, and automotive electronics, with several products entering mass production in 2025 [12] - The company has established a strong order pipeline, focusing on both existing and new clients, which is expected to positively impact future revenue [13] Future Strategic Planning - Altec aims to leverage its R&D capabilities to support the global transition to electric and intelligent vehicles, while also exploring opportunities in robotics and autonomous driving [15] - The company is committed to becoming a trusted leader in automotive technology innovation, with ongoing efforts to integrate AI into its design processes [15] Key Innovations - Altec has developed several AI applications, including an intelligent rendering system and a product called "TAI" (Tai Yi), which offers various functionalities for automotive design [5][10] - The company is positioned as a third-party service provider, allowing it to serve both upstream and downstream clients in the automotive industry [10][11]