Lucky Harvest(SZ:002965)2022-11-19 01:30Group 1: Company Overview - Xiangxin Technology specializes in precision stamping molds and metal structural components, providing solutions for the automotive, power battery, and communication industries [1] - The company is recognized as a national high-tech enterprise and has established a research center for large automotive component molds in Guangdong Province [1] Group 2: Pricing Mechanism - The company has established a price linkage mechanism with major customers, updating aluminum prices monthly or quarterly [2] - Price locking for steel materials is also implemented to manage costs effectively [2] Group 3: Future Development in Energy Storage - The company is focusing on energy storage products, with plans to expand in this area as new policies promote large-scale commercial applications by 2025 [2] - Strategic partnerships have been formed with well-known companies like Huawei and Enphase Energy for supply of photovoltaic inverters and energy storage products [2] Group 4: Revenue Growth Sources - Revenue growth in 2022 is primarily driven by the automotive mold and component business, particularly in the electric vehicle sector [2] - The company supplies structural components to major electric vehicle manufacturers, including GAC Aion and NIO, with a strong order backlog [2] Group 5: Technological Competitiveness - The company holds competitive advantages in technologies such as steel-aluminum connection, self-piercing riveting (SPR), and thermal forming [3] - It is recognized as a leader in FDS technology, having achieved mass production ahead of competitors [3] Group 6: Market Trends and Product Development - The company is actively monitoring advancements in battery tray technologies, including CTP, CTC, and CTB, and is prepared to adapt to market demands [3] - Current battery box products utilize mainstream technologies and the company is open to collaborative development with clients on emerging technologies [3] Group 7: Impact of COVID-19 - The recent COVID-19 outbreaks have affected the automotive supply chain, particularly in heavily impacted regions, but the long-term outlook for the automotive industry remains positive [4] - The company anticipates that short-term disruptions will not significantly impact overall production and delivery for the year [4]