JIANGSU YINHE ELECTRONICS CO.(SZ:002519)2022-12-06 08:28Business Segments Overview - Digital Set-Top Box Business: The company maintains stable performance, recently winning a procurement project worth 110 million from China Mobile, which is expected to positively impact next year's set-top box performance [1][2] - Military Industry: The company anticipates steady growth in military products, particularly in vehicle-mounted electromechanical products, based on current orders and product types [2] - New Energy Vehicle (NEV) Related Business: The charging pile business has seen a decline compared to last year due to government investigations into subsidies. However, the company expects steady growth in the charging pile business in the coming years and sees significant demand for onboard chargers in the next 3-5 years [2][3] Product Breakdown and Key Clients - Charging Equipment: The main client for electric vehicle charging equipment is Luoyang Jiasheng Power Technology Co., which handles products like charging piles and onboard chargers [3][4] - Electric Air Conditioning Compressors: Jianghuai Automobile is a key client for this product line, which is part of the company's NEV offerings [4] - Battery Structural Components: The company has good order conditions for battery structural components, benefiting from the rapid growth of the electric vehicle industry [3] Impact of Subsidy Investigations - Temporary Impact: The company predicts that the effects of subsidy investigations will be temporary, with expectations of a rebound in NEV business next year [4] - Long-term Benefits: The reduction of subsidies is seen as beneficial for the industry, promoting technological advancement and eliminating less competitive companies [4] Strategic Planning - Focus on Military and NEV Industries: The company plans to prioritize the development of military and NEV-related industries through internal growth and acquisitions [6] - Recent Acquisitions: The company has strategically acquired companies like Jiasheng Power and Fujian Junpeng to enhance its capabilities in the NEV sector [6]