Dare Auto(SZ:300473)2026-02-10 02:00Summary of Company and Industry Insights Company: HCDX Del Co., Ltd. Key Points - Core Business Growth: The company's main business in automotive parts is expected to achieve significant growth by 2026. This is attributed to two main factors: 1. Cost reduction efforts have led to a decrease in operating expense ratio from 20% to 15%, with projected net profit increasing from several million to over 150 million [1] 2. The acquisition of Aizhuo Technology, which specializes in new energy vehicle interiors, aligns with the trend of "spending less for more" in a context of consumer downgrade. The shift from expensive genuine leather components to affordable simulated interiors is clear, with Aizhuo currently facing high demand and expected to contribute at least 30-40 million annually, further increasing profits with planned capacity expansion [1][2] - Solid-State Battery Development: The company has developed a unique approach to solid-state batteries, avoiding competition in military applications and focusing on specialized battery needs for robotics. The products have passed rigorous testing, including puncture and high-temperature tests. The construction of a 100 MWh production line in Huzhou has been completed, with capital expenditures under 100 million. This marks the transition from the research phase to the revenue generation phase [2] - Financial Projections: By 2026, the original parts business is projected to reach a scale of 4-5 billion, contributing profits of over 150 million. Aizhuo's low capital expenditure and high cash returns are expected to provide cash flow for the main business's growth, with anticipated revenue of 600 million (20% year-on-year growth) and profits exceeding 40 million, resulting in a total profit of over 200 million, solidifying the safety margin [2]