Ningbo KBE Electrical Technology (SZ:300863)2025-12-09 10:48Group 1: Company Products and Applications - The company supplies products to major electric vehicle manufacturers including BYD, Tesla, Geely, Mercedes-Benz, General Motors, Honda, Nissan, SAIC Maxus, NIO, Li Auto, and Xiaomi [2] - Current product offerings include data cables, new energy cables, and standard cables, with applications in the automotive industry, energy storage stations, and data centers [6] - The company has developed high-speed copper cables with transmission rates of 56G, 112G, and 224G, with the 224G product already in small-scale production [3] Group 2: Production and Capacity - The Mexican production base is in the ramp-up phase, with a supply contract for approximately 1.64 million kilometers of automotive cables expected to generate around RMB 1 billion in sales from 2025 to 2027 [4] - The company has successfully completed construction of the Ninghai automotive cable expansion project, which is now in the capacity ramp-up phase [9] - The company is expanding its production capabilities to enhance market competitiveness and has invested in a production base in Mexico [9] Group 3: Strategic Partnerships and Collaborations - A strategic cooperation agreement has been signed with Shanghai Matrix Super Intelligence System Integration Co., Ltd., focusing on technology innovation and supply chain collaboration in the humanoid robot sector [8] - The company aims to become a key supplier for Matrix Super Intelligence in areas such as robot cables, harnesses, battery packs, and assembly [8] Group 4: Market Demand and Business Outlook - The company reports strong customer demand and confidence in future business growth, with a seasonal trend indicating higher demand in the second half of the year compared to the first half [10] - The company is actively pursuing international market expansion and enhancing its production base's global strategy [9] Group 5: Regulatory and Economic Factors - The Mexican production base is not affected by U.S. tariffs, and there is a growing local procurement demand from North American clients to mitigate supply chain risks [5] - The company is compliant with relevant laws and regulations regarding information disclosure [3]