COTRAN(SZ:300731)2022-11-23 07:01Group 1: Business Overview - The company focuses on three main solutions in the communication sector: waterproof sealing, plastic metallization, and thermal management [3] - The communication business has stable performance, particularly in 4G base station waterproof sealing materials, with consistent bidding results from Huawei and ZTE [3] - The company is actively developing 5G-related products, including plastic metallization resonators and heat sinks, with successful bids for 5 projects from ZTE, achieving a bid quota of 60%-80% in 4 of them [3] Group 2: Product Development and R&D - The company is advancing its thermal management product line, which includes products for communication, new energy vehicles, and consumer electronics [4] - A thermal management research institute is being planned to enhance product R&D and delivery capabilities [4] - The company has developed high-frequency PCB boards using plastic metallization technology, which are currently in the testing phase with major clients [3] Group 3: Strategic Acquisitions and Partnerships - The acquisition of Suzhou Ruitai Technology Co., Ltd. is progressing, with the company being a key supplier for 5G base station cooling plates [4] - The company is collaborating with Ericsson on plastic metallization resonators and heat sinks, with plans for mass delivery following supplier qualification [4] - The company is also acquiring Wuhu Shunfu Precision Die Casting Technology Co., Ltd. to enhance upstream and downstream resource integration [5] Group 4: Financial and Operational Strategy - The company has stable cash flow and plans to use approximately 120 million RMB from its IPO for permanent working capital [5] - A new production base in Wuxi is planned with an investment of about 1.1 billion RMB, expected to be completed in 3 to 5 years [5] - The company aims to align production capacity with the explosive growth in demand for 5G and new energy vehicles [5]