Tederic(SH:603289)2024-01-24 07:37Company Overview and Development - Company introduced its basic information, development history, core products, and industry opportunities [2] - Company has a high capacity utilization rate: 95.82% in H1 2023, 92.51% in 2022, and 95.27% in 2021 [3] - Company has multiple production bases: headquarters and smart factory for electric injection molding machines, Tongxiang base for 29 die-casting machines and 5,000 injection molding machines (capacity of 2.8 billion RMB), and Deqing base for core component processing [3] Production and Market Strategy - Company plans to add 29 die-casting machines and 5,000 injection molding machines through a convertible bond project [3] - Global injection molding machine market is projected to be $15.33 billion in 2022, with significant growth potential [3] - Company focuses on replacing imported high-end injection molding machines, targeting European and Japanese markets [3] - Company has established subsidiaries in Brazil, Korea, Mexico, and Portugal, with 75 agents and distributors covering 38 countries [4] Technological Advantages - Company has leading technologies in injection molding machines, including SpinSure®-H, SpinSure®-V, MultiMold™, Addshot-E®, CellSure®, and GlosSure™ [6] - For die-casting machines, the company has developed a full-closed-loop SNP real-time control system and a three-plate direct-pressure clamping structure [6][7] - The SNP system uses MCK large model self-learning algorithms for intelligent monitoring and adjustment, improving precision and efficiency [6] - The three-plate direct-pressure structure reduces maintenance costs and improves machine lifespan [7] Order and Delivery - Company typically has 2-3 months of orders on hand, depending on new orders and delivery speed [4] - Delivery cycles: 75-120 days for large machines, 45-65 days for medium machines, and 25-40 days for small machines [5] Die-Casting Machine Business - Company focuses on large and medium-high-end die-casting machines, with the IKON series (1400T-9200T) set for mass production in 2024 [5] - First IKON 450 die-casting machine sold to Suzhou Yadelin Co., Ltd., with strategic agreements signed with other companies like Guangdong Hongtu Technology [5] Convertible Bond and Shareholder Plans - Convertible bond project is under normal review, with a response to the review center's opinion disclosed on January 9, 2024 [7] - Shareholders with shares set to be unlocked in April 2024 have no plans to sell, expressing confidence in the company's long-term growth [7]