YAPP(SH:603013)2024-03-05 07:36Group 1: Investor Relations and Company Overview - The company addressed investor concerns regarding stock price fluctuations and new business developments on the Shanghai Stock Exchange e-interaction platform [1] - A visit from securities firms and institutional investors took place on February 1, 2024, where the company provided insights into its operations [3] - The company showcased its exhibition hall and production line during the investor visit, highlighting its basic information, product offerings, business planning, global distribution, major clients, and corporate culture [3] Group 2: Emission Standards and Technological Upgrades - The main difference between the National V and National VI standards lies in the fuel system emissions, with National V having an evaporation emission requirement of less than 800 mg/24h, while National VI requires 40-100 mg/24h [4] - The company has proactively upgraded its fuel system production line to meet the National VI standards, achieving a technology level equivalent to the US LEV3 standard [5] - The complexity and value of hybrid fuel systems are higher than traditional fuel systems due to the need for enhanced fuel storage and vapor management [5] Group 3: Workforce and Future Investments - The company has seen a significant decline in employee numbers over the past two years, primarily due to increased automation and smart manufacturing [6] - Future capital expenditures will focus on upgrading fuel system production lines and expanding into new business areas such as thermal management systems, hydrogen storage systems, and battery enclosures to meet the growing demand in the new energy vehicle market [6][7] Group 4: Shareholder Perspectives and International Expansion - The major shareholders, Guotou Gaoke and Huayu Automotive, share a common vision for the company's future development, emphasizing the importance of automotive components and diversification in automotive power [7] - The company has established a global presence with 9 overseas production bases in countries including India, Russia, the Czech Republic, Uzbekistan, the USA, Mexico, and Brazil, reflecting its commitment to international development since 2005 [8]