APG(SZ:002284)2025-10-22 07:16Group 1: Company Overview - The company has technical reserves for EMB products, which are not yet mass-produced, with market launch dates dependent on client project plans [1] - The company focuses on corner module technology, providing comprehensive solutions that integrate hub motors, EMB, steering systems, active suspension, and chassis domain controllers, enabling independent control of vehicle systems and expanding application scenarios [1] Group 2: Product Development and Market Position - The company currently does not have a layout in robotics but is actively researching related components like ball screws and brushless motors for its products [2] - The increase in gross margin this year is attributed to the growth in domestic automobile sales and new international projects, along with continuous optimization of product structure and internal cost reduction efforts [2] Group 3: Production Capacity and Expansion - The company has three main production bases in Xiaoshan, Anhui Guangde, and Huzhou Anji, with additional bases in Liuzhou, Guangzhou, and Changchun to support local vehicle assembly [2] - The current capacity utilization rate is high, and production levels are determined by vehicle sales, with plans to increase production lines based on market demand [2] Group 4: Market Challenges - The company faces annual price reduction requirements from vehicle manufacturers and is working to optimize product structure and enhance internal management to cope with pricing pressures [2]