SONGZ(SZ:002454)2022-11-21 09:16Group 1: Company Overview and Investor Relations - Shanghai Jialeng Songzhi Automotive Air Conditioning Co., Ltd. held an investor relations event on November 18, 2022, attended by various investment firms [1] - The event included a tour of the energy storage division's assembly line and production workshops [1] Group 2: Energy Storage Products - The company has achieved self-production of key components such as heat exchangers, pipelines, and harnesses for its energy storage battery thermal management products [1] - Future plans include gradually increasing the self-manufacturing rate based on business development [1] Group 3: Market Recovery and Financial Performance - The large and medium-sized bus thermal management business is gradually recovering in the second half of the year, driven by overall industry recovery [2] - Factors influencing market recovery include macroeconomic conditions and local fiscal policies [2] - The decline in gross margin for the large and medium-sized bus business is primarily due to rising raw material prices, which began increasing significantly in the second half of the previous year [2] Group 4: Small Vehicle Division Performance - The small vehicle division experienced revenue and gross margin declines in the first half of the year due to raw material price fluctuations and the pandemic [2] - Recovery in the small vehicle division's revenue was noted in the third quarter as economic conditions improved [2] - The division aims to prepare for mass production of new projects and achieve annual operational goals [2] Group 5: Future Projects - The company has commenced mass production of an air conditioning box project for SAIC General and plans to launch projects for clients such as BYD and NIO [2]