三友联众(300932) - 2023年3月9日投资者关系活动记录表

Company Overview - Sanyou Lianzhong Group Co., Ltd. is a high-tech enterprise and ranks second in domestic relay sales according to the China Electronic Components Industry Association [1] - The company has developed a comprehensive service system covering R&D, mold development, manufacturing, and after-sales service [1] Market Outlook - The relay market is expected to reach a scale of 50.27 billion yuan by 2025, with an average growth rate of approximately 5.2% from 2020 to 2025 [2] - The industry is experiencing stable growth due to the recovery of the global economy and increasing household income, particularly in traditional downstream markets such as automotive and home appliances [2] Competitive Landscape - The relay industry was primarily dominated by foreign and Taiwanese enterprises before 2000, with domestic companies gradually entering the market [2] - The industry remains fragmented with many small-scale manufacturers, while major players like Sanyou Lianzhong have established a certain level of brand recognition [2] Product Development and Strategy - The company aims to strengthen its core product lines, including general power relays, magnetic latching relays, and current transformers, while increasing investment in automotive and new energy relays [1][3] - Plans to enhance production efficiency through automation and resource integration are underway, particularly in the current transformer segment [3] International Market - The overseas market currently has a limited impact on the company, with higher profit margins for similar products abroad [3] - The company does not plan to utilize agents for sales channels, focusing instead on direct orders from large clients to ensure product quality [3] Future Investments - The company has allocated up to 510 million yuan for the investment in its subsidiary, Qingxian Zeming, to develop a new manufacturing facility [3] - The new plant is expected to be completed in approximately 15 months, with a focus on automated production and core material investment [3] Competitive Advantages - The company has established competitive advantages in R&D, manufacturing, and corporate culture since its inception [4]