Lucky Harvest(SZ:002965)2023-05-16 10:26Group 1: Company Overview - Xiangxin Technology Co., Ltd. specializes in the R&D, production, and sales of precision stamping molds and metal structural components, focusing on automation and intelligence in mold technology [1] - The company is recognized as a national high-tech enterprise and has established engineering research centers for automotive components in Guangdong Province [1] Group 2: Financial Performance - In 2022, the company achieved a revenue of CNY 4.29 billion, with a net profit of CNY 255 million, successfully meeting its revenue and profit targets [1] - Revenue from precision stamping molds and metal structural components for new energy vehicles reached CNY 2.56 billion, accounting for 60% of total revenue [2] - The company reported a Q1 2023 revenue of CNY 1.15 billion, a year-on-year increase of 52.71%, with a net profit of CNY 82.05 million [2] Group 3: Market and Orders - In the first four months of 2023, the company received project intention letters from clients, with a total expected project value of CNY 14.9-15.1 billion, covering industries such as new energy vehicles and communication [2] - The company aims to leverage the rapid growth in the new energy market to expand its business in related sectors [2] Group 4: Production Capacity and Strategy - The company has established production bases in South China, North China, East China, Southwest China, and Mexico to support various clients [3] - The production capacity for new energy vehicle components is strategically planned to meet future demands, with the ability to quickly expand capacity for products like battery boxes and energy storage systems [3] Group 5: Cost Control and Profitability - The company has implemented a price linkage mechanism with major clients to manage raw material costs effectively [2] - The target net profit margin for 2023 is set at 8%, achieved through improved production efficiency and optimized product structure [2]