KEBODA(SH:603786)2023-10-09 09:02Investor Relations Activities - The company engaged with various investors from September 5 to September 26, 2023, including major firms like Guotai Junan Securities and JP Morgan [1][2][3]. Key Communication Issues - Investors expressed interest in the company's operational status, product offerings, and R&D progress [4]. R&D and Product Development - The company is recognized for its industry-leading R&D capabilities, including: - Direct collaboration with major OEMs using the Autosar development platform, positioning it as one of the few domestic suppliers with this capability [5]. - Achieving ASPICE Level 2 certification, which is crucial for project qualification, with ongoing efforts to attain Level 3 certification [5]. - Enhanced local responsiveness and service levels compared to foreign competitors, improving overall cost-effectiveness [5]. Customer and Product Strategy - The company focuses on expanding its product offerings while maintaining stable supply for existing clients. This includes: - New product development alongside enhancements to existing products, particularly in the domain controller sector [6]. - The top five customers accounted for 75.69% of revenue in the first half of 2023, a decrease of 8.29 percentage points year-on-year [7]. - Notably, Li Auto has entered the top five customers, surpassing Weichai Power, with a revenue share exceeding 5% [7]. Domain Control Products - The company’s domain controller products integrate various distributed controllers, offering comprehensive solutions that include hardware, middleware, and software [8]. - The chassis control products are expected to see growth due to strong order backlogs and increased production from OEMs [8]. USB Product Market Potential - The global market for USB products is valued at over 46 billion yuan, with significant growth expected in vehicle USB installations due to the rise of electric and connected vehicles [10]. Subsidiary Operations - The subsidiary, KBD Intelligent Technology, focuses on providing software algorithms and hardware for intelligent automotive technologies, with two project qualifications in the autonomous driving domain [11]. Competitive Landscape in Smart Driving - The autonomous driving market is still in its early stages, with many participants and no dominant players yet. The technology is evolving, and companies must adapt to remain competitive [12]. International Expansion - The company is advancing its first overseas factory in Japan through a partnership with KAGA ELECTRONICS CO., LTD, utilizing a contract manufacturing model to mitigate investment risks [13]. - Plans for further international expansion include establishing production facilities in Europe and North America to better serve global customers [13].