Hwaway Technology(SZ:001380)2023-06-16 08:16Production Capacity - The company has a total of 4 production bases, with 2022 production figures being 22.8553 million for suspension springs, 2.1643 million for stabilizer bars, and 70.2602 million for valve and special-shaped springs [1] - The new investment project is expected to release part of its capacity in Q4 2023, with full capacity expected by Q3 or Q4 2024 [1] - The high-precision new energy vehicle suspension spring production line is projected to have partial capacity released in Q1 2024, with full completion expected by Q1 2025 [1] Product Value - The value of a single brake spring for commercial vehicles is approximately 50 yuan [2] - The value of a traditional automotive suspension spring ranges from 130 to 200 yuan, with new energy vehicles seeing a 20-30% increase in value compared to traditional vehicles [2] Market Share and Competition - The estimated market share for the company's suspension springs in the domestic market is 17.78% based on the 2022 domestic passenger vehicle production data [2] - Major competitors include Thyssenkrupp, Mubea, and Zhongdan [2] - The company maintains a competitive edge through technology, quality, R&D, and service advantages [2] Revenue Breakdown - In 2022, the revenue breakdown by product was 62% from suspension springs, 15% from brake springs, 15% from stabilizer bars, and the remaining 8% from other products [2] Export and Future Plans - The company's export ratio is approximately 12%, with brake springs accounting for over 50% of exports [3] - The company is considering establishing factories abroad if the European market develops favorably [3] Strategic Vision - The company aims to become a leading manufacturer of high-end automotive elastic components, focusing on quality, innovation, and customer-centric operations [4]