Tederic(603289)2024-01-10 10:28Group 1: Company Overview and Market Position - Tai Rui Machinery Co., Ltd. is entering the integrated die-casting market, driven by the demand for lightweight applications in the automotive sector due to emission policies and range anxiety in electric vehicles [2][3]. - The company has completed the development of its IKON series die-casting machines, with models ranging from 1400T to 9200T, set for mass production in 2024 [3][10]. - The first IKON 450 die-casting machine was successfully tested and delivered to Suzhou Yadelin Co., Ltd. in August 2023, meeting performance and stability requirements [6][11]. Group 2: Technological Advancements - The IKON series features a fully closed-loop SNP real-time control system, enhancing monitoring and adjustment capabilities, which significantly improves production efficiency and product quality [5][10]. - The innovative three-plate direct pressure mold clamping system has received a Chinese invention patent, offering advantages such as uniform clamping force distribution and reduced maintenance costs [5][6]. - The integrated die-casting technology allows for a reduction in the number of components, lower process costs, and improved production efficiency, with aluminum recycling rates exceeding 90% [7][9]. Group 3: Market Trends and Future Outlook - The integrated die-casting market is expected to see significant growth, with 2024 anticipated as a breakthrough year for small-batch production of integrated die-casting products [7][9]. - The company aims to expand its customer base in the new energy vehicle sector, with strategic partnerships being established with several key players in the industry [6][11]. - The demand for high-performance die-casting machines is increasing, particularly in the automotive sector, where the quality of structural components accounts for 20-30% of the overall vehicle weight [3][4]. Group 4: Financial Projections and Revenue Breakdown - The initial plan for the company's convertible bond project includes 29 die-casting machines, projected to generate approximately 280 million yuan in revenue [7][9]. - In 2022, the revenue breakdown for the company's injection molding machines showed that the automotive sector accounted for approximately 59.74% of total sales, with other sectors contributing varying percentages [8].