JMPT(SZ:000700)2023-07-27 08:23Group 1: Company Overview - Jiangnan Mould & Plastic Technology Co., Ltd. is a leading supplier of automotive exterior parts in China, with an annual production capacity of over 6 million sets of automotive bumpers [2]. - Major traditional automotive clients include BMW, Beijing Benz, SAIC General, SAIC Volkswagen, and Volvo, while new energy clients include Tesla, BYD, NIO, and XPeng [2]. Group 2: Production Capacity and Utilization - The production capacity of the Mexican subsidiary is 1 million sets per year, with a current utilization rate of approximately 50% [3]. - There is potential for capacity expansion to 1.5 million sets per year through technical upgrades [3]. Group 3: Financial Aspects - As of July 27, 2023, the exchange rate is 1 Mexican Peso to 0.42 Chinese Yuan [3]. - The overall production costs in Mexico are relatively higher than in China, with labor costs for blue-collar workers being similar, but white-collar wages are 30% higher [4]. - Local raw material prices are 30% higher than in China, and electricity costs are 20%-30% higher [4]. Group 4: Workforce Configuration - As of May 2023, the total number of employees at the Mexican subsidiary is 1,030, with local hires for production roles after thorough training [4]. - The number of dispatched personnel from China has been reduced from over 100 to 35 [4].