BROAD-OCEAN MOTOR(SZ:002249)2022-12-03 09:56Business Integration and Strategy - The company integrated four subsidiaries, including Shanghai Edrive, to form the Vehicle Business Group, leveraging their technical expertise and market channels to promote new energy vehicle powertrain systems [2] - Strategic partnerships with Ballard and Hydrogenious Technologies GmbH were established to enter the hydrogen fuel cell and hydrogen storage equipment markets [3] Hydrogen Fuel Cell Development - Acquired a 9.9% stake in Ballard in 2016, becoming its largest single shareholder, and signed a technology licensing agreement in 2017 for domestic hydrogen fuel cell module production [3] - Shanghai Edrive completed its hydrogen fuel cell production line in 2017 and began shipments, with strategic agreements signed with Zhongtong Bus and Dongfeng Industrial for future production and operations in Shandong and Hubei [3] - The company expects significant growth in the hydrogen fuel cell industry, with system prices expected to decrease as the industry scales [3] 48V BSG System and Product Development - The 48V BSG system is seen as a key opportunity post-2020 when new energy vehicle subsidies are canceled, with the company securing orders from SAIC-GM and planning mass production in 2019 [3] - The company's 48V BSG product is technologically advanced, having outperformed competitors like Bosch and Valeo in bidding processes [3] - Developed "three-in-one" (motor + reducer + motor controller) products, with six models already launched and orders from multiple automakers [4] Market and Customer Overview - The company collaborates with major domestic automakers such as BAIC, Changan, Chery, and GAC, with popular models including BAIC EX360 and Chery EQ [4] - The new energy vehicle industry is expected to exceed 1 million units in production and sales in 2018, with significant growth in electric logistics vehicles and light trucks [4] R&D and Investment - The company has a R&D team of over 400 people focused on new energy vehicle powertrain systems, with R&D investment significantly higher than the company's average of 5% of revenue [4]