BROAD-OCEAN MOTOR(SZ:002249)2022-12-07 08:26Group 1: Company Overview and Strategic Development - Zhongshan Dayang Electric Motor Co., Ltd. introduced its development history and strategic layout [2] - The acquisition of 100% equity of Shanghai Electric Drive was driven by long-standing relationships and mutual interests [2] - The acquisition aims to achieve complementary advantages and resource sharing, enhancing market share [2] Group 2: Synergy and Management Post-Acquisition - The collaboration will leverage Shanghai Electric Drive's strengths in product R&D and specialized processes, while Dayang Electric Motor excels in industrialization and supply chain [2] - Shanghai Electric Drive holds 15 patents for new energy vehicle drive motor systems, contributing to its industry influence and participation in national standards [2] - Post-acquisition, the management team of Shanghai Electric Drive will remain unchanged, with a "5+2" agreement to prevent competition [2] Group 3: Financial Aspects and Valuation - The acquisition's premium rate is as high as 1057.1%, attributed to the target company's strong market position and R&D capabilities [2] - The target company's financial performance was significantly boosted by increased demand for new energy vehicles and government subsidies [3] - The revenue from new energy vehicle powertrains is around 100 million, with production capacity expected to reach 20,000 sets by year-end [3] Group 4: Future Plans and Business Model - The company plans to expand its financing leasing model for new energy vehicles across the country, starting from the Pearl River Delta region [3] - The leasing model aims to reduce operational costs and maintenance burdens for the government while ensuring asset-light operations [3]