BROAD-OCEAN MOTOR(SZ:002249)2022-12-08 03:06Group 1: Business Overview - The company has established four main business segments: home appliances and home electrical motors, new energy vehicle powertrain systems, and vehicle rotating electrical appliances, which promote mutual development [2]. - The new energy vehicle operation platform is emerging as the fourth business segment, expected to grow rapidly alongside the powertrain systems segment [2]. Group 2: Financing and Leasing - The company has formed a joint venture with the public transport group to lease new energy vehicles, with a registered capital of 500 million RMB for the financing leasing company [3]. - The financing leasing model offers benefits such as light asset operation and no increase in operational costs, with leasing fees not exceeding those of traditional fuel vehicles [3]. Group 3: Acquisitions and Market Strategy - The acquisition of 100% equity in Shanghai Electric Drive was driven by the explosive growth of the new energy vehicle market and the long-standing relationship between the company’s chairman and Shanghai Electric Drive’s chairman [3]. - The acquisition price was set at 3.5 billion RMB, reflecting the target company's strong industry influence, R&D capabilities, and customer resources [3]. Group 4: Market Challenges and Future Directions - The domestic economic downturn has led to high inventory levels in the air conditioning sector, impacting the company's home appliance motor business [3]. - The company plans to continue its transformation and upgrade in the motor and application fields, considering opportunities in automation and servo motors [3].