Company Overview - Minglida is a "one-stop, multi-process" precision component manufacturer, involved in precision die-casting, injection molding, profile stamping, and precision molds [3] - The company serves four main industries: photovoltaic, new energy vehicles, security, and consumer electronics, with photovoltaic being the core area [3] - Production bases are located in Guangdong Dongguan, Jiangsu Hai'an, Sichuan Guang'an, Chongqing, Hunan Changsha, and Guangdong Zhaoqing, establishing a solid foundation for rapid development in 2022 [3] Financial Performance - In Q1 2022, sales increased by 55%, but Q2 was significantly impacted by the pandemic, particularly the Shanghai outbreak affecting Jiangsu factory deliveries [3] - Despite challenges, the overall year-on-year growth rate is improving, with expectations for June to outperform May [3] - The energy storage sector is experiencing the highest growth due to last year's low base, although its absolute revenue contribution is less than other sectors [3] Market Dynamics - The overseas market demand is expected to rise in the second half of the year, with the photovoltaic inverter market projected to maintain rapid growth [3] - Hikvision remains the largest customer in the security sector, while Huawei and overseas companies are gaining market share [3] - The company has been collaborating with major clients like BYD and CATL in the new energy vehicle sector, focusing on electric motors, controls, batteries, and lightweight structural components [4] Production Capacity and Future Plans - Currently, the company has six production bases with a total capacity of over 3 billion RMB, expected to reach 4-4.5 billion RMB by year-end [6] - The company plans to expand production capacity to meet growing market demands, including new factories and upgrades to existing lines [6] - Future self-developed products will focus on new energy vehicle components and pneumatic components, aiming for significant growth in 3-5 years [6] Competitive Landscape - The company faces competition from specialized manufacturers like Keda Li and Zhenyu Technology, but emphasizes its multi-process capabilities and resource allocation as competitive advantages [7] - The company aims to maintain a leading position across multiple manufacturing fields, rather than focusing on a single area [8] Strategic Goals - The revenue target for 2022 is outlined in the financial budget report, with expectations for improved net profit margins due to reduced bank interest expenses and increased scale [8] - The company remains optimistic about future growth trends, anticipating better customer demand and preparing for high growth in the coming years [8]
铭利达(301268) - 2022年6月14日投资者关系活动记录表