Chuanhuan Technology(300547)2022-11-21 05:36Key Clients and Partnerships - Key clients in the new energy vehicle (NEV) sector include BYD, GAC Aion, Wuling Mini, NIO, BAIC Arcfox, Changan New Energy, Seres, WM Motor, Li Auto, Lynk & Co, Zeekr, and Dongfeng Voyah [1] - The company is actively involved in the development of BYD's NEV models such as Dolphin, Yuan, Qin, Han, and Song, covering both hybrid and pure electric models [1] - The company plans to strengthen cooperation with BYD and participate in the synchronous development of next-generation and facelifted models [2] Product and Market Advantages - The company provides comprehensive solutions for different models and configurations, covering fuel system hoses, cooling system hoses, brake system hoses, power steering hoses, and more [2] - The company's products are applicable to NEV fields including thermal management system pipelines, battery pack system pipelines, and extended-range power system pipelines [2] - The company can participate in the synchronous development of pipelines with automakers, leveraging years of experience to accelerate development progress [2] - The company has 8 national key new products, including the "Hybrid New Energy Vehicle Engine Fuel Pipeline System," and has formulated national standards, ensuring a strong competitive edge [4] Market Trends and Opportunities - The NEV market is a significant growth area, with the company focusing on increasing its market share in this sector [3] - The company sees the rapid development of NEVs as an opportunity to overtake competitors, especially in the context of traditional and new energy vehicle manufacturers [3] - The company expects to benefit from the trend of providing integrated and modular products, reducing assembly processes and saving time costs [3] Financial and Operational Insights - The company's profitability is supported by its core technology in product R&D and production, as well as its ability to provide integrated and modular products [4] - The company does not sell semi-finished rubber materials externally, as they are used exclusively for internal production [4] Technical and Product Differentiation - NEV pipeline systems are more complex and modular compared to traditional fuel vehicles, with pure electric vehicles using 20-35 sets of pipelines and hybrid vehicles using 40-50 sets [3] - The value of NEV pipeline systems per vehicle can reach around 800 RMB, with some exceeding 1000 RMB [3]