SBT(SH:688392)2023-11-14 08:32Group 1: Company Overview - Shanghai Jiao Cheng Ultrasonic Technology Co., Ltd. was established in 2007, initially focusing on the ultrasonic cutting industry, particularly in the rubber tire sector [3] - The company has expanded its business into the new energy power battery field, developing and selling ultrasonic welding equipment and components [3] - The main revenue source currently comes from the power battery sector, specifically in the ear welding process during battery assembly [3] Group 2: Technology and Product Advantages - Ultrasonic technology is environmentally friendly, energy-efficient, and pollution-free, offering high welding efficiency and good conductivity without the need for additional flux, gas, or solder [3] - The company specializes in high-end industrial applications of ultrasonic technology, continuously improving its technology, governance, and management [3] Group 3: Financial Performance and Market Challenges - The company's quarterly revenue has declined due to a slowdown in the expansion of downstream lithium battery production capacity [4] - The estimated demand for ultrasonic welding equipment is between 1 million to 2 million RMB per GWh [4] Group 4: Customer Relationships and Market Position - Key customers in the wiring harness sector include BYD, Junsen Electronics, and Amphenol, while in the IGBT sector, clients include CRRC Times, Infineon, and Guangdong Chip Union [6] - The company has established strong partnerships with major domestic power battery manufacturers, maintaining a competitive edge against international rivals [7] Group 5: Future Outlook and Expansion Plans - The company plans to gradually expand its overseas business, although there are currently no formal orders from international clients in the power battery sector [7] - The ultrasonic welding process is expected to remain dominant in the lithium battery ear welding market, with no significant alternatives emerging [7]