SBT(SH:688392)2023-11-09 08:28Group 1: Company Overview and Market Position - The company has established good cooperative relationships with major domestic power battery manufacturers and equipment suppliers in the traditional power battery ear welding field [2][3] - Major competitors include American companies like Branson and Sonics, with no significant changes expected in the competitive landscape in the short term [3] Group 2: Cost Structure and Equipment Orders - The cost share of imported generators and transducers in ultrasonic welding equipment is approximately 40% [3] - The company’s rolling welding equipment has been validated by customers since 2017, with welding speeds exceeding 80m/min [3][4] Group 3: Client Relationships and Future Prospects - In the harness field, the company collaborates with well-known enterprises such as BYD, Jushi Electronics, Amphenol, and Tyco Electronics, indicating a positive outlook for business development [4] - The company plans to expand its ultrasonic technology applications across various industries by leveraging its core research and innovation capabilities [4] Group 4: Component Specialization and Profitability - Components like welding heads and cutting knives are specialized acoustic parts with strict vibration characteristics, ensuring compatibility and stability with the equipment [5] - The gross margin for the company’s component business was approximately 60% in 2022 [5]