YAPP(603013)2024-05-27 09:35Business Strategy and Market Position - The company is a leading domestic automotive fuel tank manufacturer and is adapting to the trend of new energy vehicles by developing low-emission and high-pressure systems [2][3] - The company is expanding its product portfolio from traditional fuel systems to include battery packs, hydrogen storage systems, and thermal management systems for new energy vehicles [3] - Overseas revenue accounts for nearly 40% of the company's total revenue, indicating strong international market performance [4] Technological Advancements and Innovations - The company has technical barriers in system integration, material and structural design, fluid simulation, and manufacturing processes for automotive fuel systems [3] - The YNTF® technology has gained significant market share and economic benefits under the "China VI" emission standards [4] - The company has made breakthroughs in the development of 70MPa Type IV hydrogen storage tanks, achieving industry-leading hydrogen storage mass ratios [7] Product Development and Market Expansion - The company's high-pressure fuel systems for hybrid vehicles have been commercially applied and promoted, with multiple new projects secured in 2023 [5] - Hydrogen storage systems have been certified and are in demonstration operation, with partnerships established with major commercial vehicle manufacturers [5][6] - The company has entered the thermal management market, with projects in battery pack thermal management and energy storage thermal management systems [6] Industry Trends and Future Outlook - The growth of pure electric vehicle sales has slowed domestically, while overseas markets are reconsidering or delaying bans on fuel vehicles, providing a favorable market environment for the company's fuel systems [4] - The fuel cell vehicle industry is in its early stages of industrialization, with a relatively small market size, but the company is actively promoting its hydrogen storage systems [7]