Gian(SZ:300709)2022-11-21 15:46Group 1: Company Performance - The main reason for the company's Q3 2021 performance growth is high capacity utilization and significant scale effects, with major clients' new products and projects reaching peak production during this period, such as foldable screen hinges and wearable device casings [2] - The overall profitability level of the company has improved significantly compared to the first half of the year due to continuous cost reduction and efficiency enhancement measures, particularly through increased automation in production [2] Group 2: MIM Industry Insights - The MIM (Metal Injection Molding) industry has substantial growth potential, especially in consumer electronics and automotive electronics, where complex structural components are increasingly in demand [3] - MIM is particularly suitable for applications requiring intricate movements in confined spaces, such as in headphones, glasses, and foldable screen hinges, due to its high precision and strength [3] Group 3: Raw Material and Supply Chain - The company's main raw materials are metal powders, which do not significantly impact overall cost pressure despite rising prices this year [3] - The company has transitioned to self-manufactured feedstock, which now meets the diverse material needs of clients and offers cost advantages over external suppliers [4] Group 4: Business Focus and Development - The primary focus of the company's MIM business remains in consumer electronics, including smartphones and wearable devices, while automotive and medical sectors are still developing but contribute a smaller share of total revenue [4] - The company is also emphasizing the development of transmission and thermal management sectors, leveraging synergies between MIM and transmission businesses in various applications [4]