Shuanglin Auto Parts(SZ:300100)2022-12-08 08:14Group 1: Product Structure and Sales - The company's main products include automotive seat system components, interior and exterior trim components, engine peripheral parts, air conditioning plastic parts, and automotive molds. Domestic and international sales account for approximately 88% and 12%, respectively. The first and second-tier supply ratio is about 40% and 60% [1]. Group 2: Impact of Ongoing Projects - Ongoing projects include the Hangzhou Bay project (under construction) and the Meiqiao Park project (under construction). Non-fundraising projects include the Ninghai Technology Park project (trial production), Qingdao expansion project (under construction), Chongqing stamping project (under construction), and Liuzhou Bailu Park project (in debugging). Amortization and depreciation expenses have significantly impacted current performance over the past two years [1]. Group 3: Fundraising Utilization - As of now, the overall utilization progress has exceeded 65%. The core technology research and industrialization projects for automotive seats and window regulators, as well as the precision plastic mold technology renovation project, have been adjusted in response to market conditions and project structure, resulting in some delays compared to previously disclosed plans. The Hangzhou Bay seat project is expected to be operational by May next year [1]. Group 4: Acquisition of New Torch Project - The New Torch project is currently under review. New Torch is a promising component enterprise, ranking among the top in terms of scale and efficiency even among listed companies. The acquisition is expected to positively impact product structure and customer complementarity [1]. Group 5: Plans for New Energy Vehicles - The company recognizes the industry trend towards new energy and electric vehicles and has actively participated in this area in the past and present. The company's philosophy is to find projects suitable for its own development while maintaining a rational decision-making approach [1].