GATD(688239)2024-02-27 09:11Group 1: Company Overview and Market Position - The company primarily operates in the aerospace sector, focusing on applications in aircraft engines, space rockets, gas turbines, and new energy cathodes [2] - The company has a significant presence in the international market, with over 30% of its total revenue coming from overseas clients in 2023, projected to rise to around 40% in 2024 [3] Group 2: Production Capacity and Utilization - The production line in Deyang is expected to achieve an output value of 1-1.5 billion CNY upon reaching full capacity, with substantial flexibility in overall capacity [2] - As of the third quarter of 2023, the actual capacity utilization of the Deyang production line reached 63%, with expectations to reach full production in the first half of the year [2] Group 3: Recent Developments and Orders - The company has secured a total order backlog of 2.314 billion CNY as of the end of Q3 2023, indicating strong demand [2] - Recent efforts to expand market presence include successful bids for products from international clients such as GE, Safran, and Rolls-Royce [3] Group 4: Share Buyback and Investor Confidence - The purpose of the share buyback is to enhance investor confidence and protect shareholder interests, with plans to use repurchased shares for maintaining company value and shareholder rights [3] Group 5: Future Growth Areas - Future growth points include civil aviation engines, domestic large aircraft engines, gas turbines, commercial aerospace, underwater submersibles, and nuclear power sectors [3] - The gas turbine segment primarily serves the shipbuilding and power generation industries, with key clients including Harbin Electric and Dongfang Electric [3] Group 6: Raw Materials and Suppliers - Main raw materials include high-temperature alloys and titanium alloys, sourced from suppliers such as Fushun Steel and Longda [4]