TQM(SZ:002510)2022-12-06 11:31Group 1: Company Overview - The main business products include automotive molds, stamping parts, inspection tools, and welding fixtures, as well as some aerospace components [3] - The demand for mold orders primarily comes from the development of new vehicle models and modifications of existing models [3] Group 2: International Expansion - The German subsidiary serves as a direct channel for market development and after-sales service in Europe, enhancing mold technology and brand recognition [3] - In 2015, the German company incurred losses due to high-cost strategic mold projects, marking the first step towards internationalization [3] - Plans for 2016 include establishing a factory in North America to deepen global strategic layout and improve service capabilities [3] Group 3: Aerospace Sector - The company has a joint venture and a wholly-owned subsidiary in the aerospace sector, focusing on the production of aircraft parts and ground support equipment [4] - The joint venture holds a 25% stake in Tianjin Tianqimo Feiyue Aviation Equipment Technology Co., Ltd., while the wholly-owned subsidiary focuses on aircraft sheet metal parts [4] Group 4: Impact of New Energy Vehicles - The increasing development of new energy vehicles is expected to drive new mold demand, with current orders including those from Tesla and NIO [4] Group 5: Profitability and Market Strategy - The variability in mold gross margins is attributed to the customized nature of products, differing customer requirements, and project-specific costs [4] - The company aims to maintain its focus on molds while exploring investments in high-value, short-cycle industries, and diversifying into high-tech fields such as aerospace and smart manufacturing [5]