Lead Power(SZ:300530)2022-11-14 10:31Group 1: Company Transformation and Strategy - The company transitioned to the new energy battery sector in 2020, driven by industry development trends and policy guidance, forming a dual main business model of "surface engineering chemicals + new energy batteries" [2] - The local government has increased support for the company since the change of actual controller to the Hengyang State-owned Assets Supervision and Administration Commission, promoting stable and rapid development of the new energy battery business [2] Group 2: Production Capacity and Technology - The first new energy battery production line with a capacity of 1.8 GWh has completed ramp-up, with actual capacity at 1.04 GWh, currently operating at full production and sales [3] - Future production lines will focus on lithium iron phosphate batteries, with a planned total capacity of 15 GWh at the Hengyang new energy battery production base [3] - The company aims to shorten the ramp-up period for new production lines based on accumulated operational experience [3] Group 3: Cost Management and Profitability - The company has implemented cost reduction and efficiency enhancement measures, including the development of a second-generation 135AH cell, expected to reduce material costs in the second half of the year [4] - Collaboration with local universities and vocational colleges has helped reduce labor costs by training new graduates directly in the factory [4] - The company is focused on improving production yield and product quality to minimize losses in the second half of the year [4] Group 4: Market Position and Product Offering - The company primarily targets A00 class vehicles in the short term, with plans to expand to A0/A/B class vehicles, supplying battery cells, modules, and packs to various manufacturers [5] - The company is committed to a dual-drive strategy of power and energy storage batteries, focusing on technology enhancement, capacity construction, and cost reduction [4]