密封科技(301020) - 密封科技2026年1月28日投资者关系活动记录表

Group 1: Company Overview - Yantai Shichuan Sealing Technology Co., Ltd. is focused on the automotive industry, particularly in the application of metal-coated boards for sealing and noise reduction in brake systems [2][3] - The company’s metal-coated boards are high-performance composite materials made from stainless steel and rubber, used in various automotive sealing applications [2][3] Group 2: Market Demand and Orders - The company reports a stable order situation, continuing the positive trend from the previous year, with efforts to expand market share and develop new customers [4] - The automotive sector, including both new vehicle production and the maintenance market for existing vehicles, presents significant growth opportunities, with millions of new cars and a maintenance market of several hundred million vehicles [3][4] Group 3: Competitive Advantages - The company has maintained a leading position in the sealing gasket sector through advanced technology and consistent product quality, which has helped increase market share [5] - The performance of the metal-coated boards is nearing international standards, and the company offers competitive pricing compared to imported products, enhancing its value proposition [5] Group 4: New Energy Vehicle Segment - The company is actively engaging with leading new energy vehicle manufacturers, with growth in sealing business for hybrid and extended-range models, although the revenue contribution remains low due to lower unit value [6] Group 5: Impact of Project Delays - The delay in the "Sealing Gasket Technology Upgrade and Expansion Project" has not adversely affected the company’s overall performance, as it focuses on optimizing existing capacity and enhancing product competitiveness [7] Group 6: Export and International Market Expansion - The company has been expanding its international market presence, with direct exports to well-known manufacturers like Cummins (USA) and Doosan (South Korea), and anticipates significant growth in direct export revenue this year [8][9] - The company is also developing relationships with overseas clients in countries such as Russia, India, South Korea, and Italy, which is expected to support future performance [9]