DFDR(SZ:300217)2022-12-06 11:18Group 1: Current Status and Future Directions of Electric Heaters - The company's main product in civilian electric heaters is air conditioning electric heaters, which have a high market share. However, growth has encountered bottlenecks due to the overall poor development of the air conditioning industry, necessitating new products and technologies to improve market share or reduce costs [3] - The company has developed electric heaters for small household appliances and electric heaters for new energy vehicles, achieving good results with a clear development plan [3] - The company is currently developing quartz glass tube internal spray electric heaters, which are about to be finalized in Qinyuan and have attracted significant attention from Midea [3] Group 2: Small Household Appliance Electric Heaters - The main types of small household appliance electric heaters include those for coffee machines, washing machines, electric ovens, steam irons, dishwashers, and water heaters, all of which are supplied to well-known brands [4] - In 2015, the company achieved bulk supply to clients such as Midea and Haier, with small batch supply to Supor and sample testing with Green Mountain in the US this year [4] - The production situation for small household appliance electric heaters is currently good, with a target of 40,000 units per day for electric oven heating tubes, although the current output is only 15,000 units per day due to staffing issues [4] Group 3: New Energy Vehicle Electric Heaters - The company is one of the earliest developers and manufacturers of electric heaters for new energy vehicles, establishing business relationships with major automotive manufacturers [5] - Sales of new energy vehicle electric heaters began to ramp up in September 2014, with significant growth expected this year due to supportive national policies [5] - The price of new energy vehicle electric heaters ranges from hundreds to thousands of yuan, with integrated control electric heating systems priced over ten thousand yuan, giving the company a competitive edge [6] Group 4: Rail Transit Electric Heaters - The company has rapidly expanded its rail transit electric heater business due to the growth of subways and high-speed rail, entering major projects last year [6] - The company is also expanding into the central air conditioning electric heater market, which has a high demand [6] Group 5: Industrial Electric Heaters and Marine Oil & Gas Equipment - The industrial electric heater business is performing well, while the marine oil and gas equipment sector is growing slowly due to low oil prices [7] - The company is expanding into chemical and environmental equipment, with a strong order backlog and ongoing negotiations for new projects [7] Group 6: Collaboration and M&A Strategy - The collaboration with Silicon Valley Paradise is progressing well, focusing on identifying suitable M&A targets and providing support for policy compliance and documentation [7] - The company prioritizes M&A in upstream and downstream industries that complement its product structure and market channels, with a focus on electric heating [8] - Future M&A targets will include industries encouraged by national policies, such as new energy vehicles, environmental protection, and health industries [8]