卡倍亿(300863) - 卡倍亿调研活动信息

Group 1: Investor Relations Activities - The investor relations activity was conducted on November 1, 2023, with specific focus on targeted research [1] - Participants included representatives from Huatai Securities, Dongfang Fund, and other asset management firms [1] - The meeting was held in the company conference room, attended by the board secretary and securities affairs representative [1] Group 2: Key Financial Insights - Copper materials account for approximately 85% of the company's product costs, with minimal impact from copper price fluctuations on overall performance [1] - The company has seen a continuous increase in the quantity of automotive cable products sold to BYD, particularly high-voltage and special cables [3] Group 3: Competitive Positioning - The company possesses advantages in technology, brand, scale, and capital market, leading to a strong competitive position in the industry [3] - High-voltage cables generally have higher gross margins compared to ordinary cables due to their complex performance requirements [3] Group 4: Production and Capacity - The company has multiple production bases across various regions, with high capacity utilization rates [3] - The Benxi Phase II factory has completed acceptance and is in the ramp-up production stage, while the Macheng factory is under construction [3] Group 5: Export and Overseas Expansion - The company's export business is primarily focused on Southeast Asia, with the Philippines being a significant market [3] - The company is considering overseas factory establishment as the automotive industry evolves, with plans to choose optimal timing and location [3] Group 6: Stock Incentive Plans - The company has implemented two stock incentive plans, which have resulted in relatively low management costs as a percentage of sales revenue and net profit [4]