NanFang Precision(002553)2022-11-17 14:28Group 1: Company Overview and Market Position - Jiangsu Southern Precision Engineering Co., Ltd. is the leading company in the needle bearing sector in China, focusing on the production of needle bearings and related components [2][3] - The company has established three main advantages over competitors: brand advantage, cost advantage, and market advantage [3] - The company possesses five key capabilities, including complete production capabilities for all needle bearing components and processes, and the ability to produce 3 billion needle bearings annually [3] Group 2: New Energy Vehicle Division - In March 2022, the company established a new energy vehicle parts division to enhance resource integration and market responsiveness [3][4] - The division has successfully concentrated the company's market, R&D, and sales resources in the new energy vehicle sector, leading to faster customer project development [3][4] Group 3: Product Development and Partnerships - Recent product developments include the NB30282 precision sleeve and round pin column, which have passed customer audits and entered mass production for automotive air conditioning systems [4] - The company has signed supply agreements for various needle bearings and thrust bearings with partners like Hive Drive, indicating a strong market presence in the new energy vehicle sector [4][5] - The company has been collaborating with BYD since 2017, providing components for EPB and battery water valve systems, with rapid growth in business volume [5] Group 4: Future Growth and Market Opportunities - The global bearing market is dominated by eight major foreign companies, which held over 70% market share in 2020, presenting significant opportunities for domestic product substitution [6][7] - The company is expanding into new application areas, including industrial robots, electric vehicles, aerospace clutches, and electronic control unit chips, with some products already in mass production and others in development [7]