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Chuanhuan Technology has been surveyed by 44 institutions: Currently, major engine manufacturers are promoting pure electric and hybrid related models. The company's current hybrid customers include Changan, Geely, BYD, Great Wall, and other customers. Th
来源: | Author: Anna Qu | Publish date: 2023-05-23 | 364 views | 分享到:
Chuanhuan Technology has been surveyed by 44 institutions: Currently, major engine manufacturers are promoting pure electric and hybrid related models. The company's current hybrid customers include Changan, Geely, BYD, Great Wall, and other customers. The company is participating in the development and supply of related pipeline systems normally

On May 15, 2023, the company underwent a survey of 44 institutions, including insurance companies, others, fund companies, overseas institutions, securities companies, and Sunshine Private Equity. The main content of investor relations activities is as follows: 1. Introduce the company's basic overview, development history, main business, product categories, customer groups, etc. 2、 The main content of questioning and interaction

Q: According to the company's annual report, new energy vehicle revenue accounts for 27.6% of the overall business revenue, significantly higher than the 8.7% level in 2021. Can you introduce which manufacturers and brands are the main sources of new energy vehicle revenue?

Answer: The company's current new energy vehicle customers mainly include BYD (002594) (Dynasty series Tang, Song, Yuan, Qin, Han, etc., Ocean series Dolphin, Seal, etc., Tengshi series, warship system, etc.), GAC Aian (all series, etc.), Wuling Mini, Nezha, BAIC Jihu, Changan Shenlan, Celis (601127) Wenjie, Geely Link, Jikron, Dongfeng Landu, Zero Run, Ideal, etc. The company is expected to follow the rapid growth of relevant new energy enterprises in 2023 and take the lead in stepping out of the painful period of contraction and transformation of the fuel vehicle system.

Q: What is the company's expected future growth in the new energy vehicle sector?

Answer: According to the relevant information released by the China Association of Automobile Manufacturers on December 9, 2022, it is predicted that the total sales of automobiles in China will be 26.8 million units in 2022, a year-on-year increase of 2%; It is expected that the total sales of automobiles in China in 2023 will be 27.6 million, a year-on-year increase of 3%, of which the sales of new energy vehicles will be 9 million, a year-on-year increase of 35%. According to China's new energy vehicle development plan, it is expected that the sales volume of new energy vehicles in China will reach 50% by 2035. The company has many advantages, such as a wide customer base, a complete range of product types, independent core technology, integrated supply capability, and diverse product application fields. In recent years, the company has continued to expand its share of key customers. With the recovery of the automotive market and the support of national policies, we are confident in the continuous growth of the future automotive industry.

Q: What are the current customers of the company's traditional fuel vehicles?

Answer: The company's current fuel vehicle customers mainly include: FAW Volkswagen, SAIC Volkswagen, Changan, Geely, Great Wall, GAC, Changan Ford, Changan Mazda, SAIC GM Wuling, Dongfeng, Mitsubishi, Chery, BAIC and other vehicle manufacturers.

Q: What are the hybrid projects?

Answer: Currently, major engine manufacturers are promoting pure electric and hybrid related models. The company's current hybrid customers include Changan, Geely, BYD, Great Wall, and other customers. The company is participating in the development and supply of related pipeline systems normally. As suppliers, we are closely monitoring the follow-up situation of customer related models, actively participating in the synchronous development of related pipelines for related models, and striving to obtain more designated projects.

Q: The annual report shows a decrease in the company's gross profit margin, what is the main reason for this?

Answer: The company will further increase its sales proportion of new energy vehicle pipeline systems and increase its gross profit margin. At the same time, the main raw material of the company is the downstream product of petroleum - synthetic rubber. Due to changes in the international situation, the current oil price is at a high level. When the oil price drops, there is a corresponding lag in the prices transmitted to the raw material end, which also has a huge impact on our raw material prices. The company will strengthen the control of various procurement costs, combine the company's accumulated experience in the industry, and continue to carry out cost reduction and efficiency improvement work. By continuously promoting technological innovation, refined production, intelligent transformation, and other energy-saving and consumption reduction work. The company has increased the production of certain outsourced components (such as clamps, joints, tees, O-rings, etc.) to minimize intermediate links and procurement costs, reflecting the advantages of assembly, and striving to achieve a continuous increase in gross profit margin.

Q: Workshop 104 mainly produces nylon pipes. What are the main application scenarios for nylon pipes in the company?

Answer: From the perspective of production methods, nylon pipes are directly processed by purchasing granular raw materials from material manufacturers, while rubber pipes are designed based on formulas and produced by mixing rubber materials to better meet demand. The technology is independent and controllable, and the technical requirements for nylon pipes are lower than those for rubber pipes. We can produce both types of pipelines, and according to the different design requirements of the main engine factory for the vehicle model, we will determine the mode of using rubber pipes, nylon pipes, or rubber pipes+nylon pipes. At present, in the market, taking BYD Automobile as an example, we adopt an integrated supply method of mainly rubber pipes and nylon pipes, effectively utilizing their respective advantages to complement each other, and achieving better overall performance. At the same time, the energy storage market requires a large number of cooling pipeline systems, which are similar to those used in automobiles, including rubber pipelines, nylon pipelines, and a combination of the two. Whether it is nylon or rubber pipes, the company has corresponding independent production capabilities and a combination of assembly and integrated supply capabilities, with obvious advantages.

Q: What is the progress of the company's products in the energy storage field?

Answer: The current focus of the company's work is to develop the pipeline system supply and distribution market in the automotive sector while rapidly advancing the energy storage market as a new growth point for the company. Currently, the company has established a dedicated market development and technical support team for energy storage products, and has established cooperative relationships with multiple energy storage customers. We understand that some customers' similar products are provided by foreign suppliers, and our products aim to achieve "import substitution". For example, the B customers, Y customers, H customers, Q customers we have contacted have very high technical requirements. In order to meet the technical requirements, we have integrated other high-end accessories on the basis of our existing technological research and development and technical solutions, and ultimately met the customer's requirements. The mass production of related customer products is progressing according to the customer's process.

Q: What is the value level of energy storage products?

Answer: In the field of energy storage market, the corresponding pipeline systems are determined based on the different needs of customers, and the corresponding technical standards (which are much higher than those in the automotive field) and the scale of assembly/integration of pipeline systems are determined. The value is directly proportional to the technical standards and assembly scale, with prices ranging from hundreds to thousands of yuan to tens of thousands or even tens of thousands of yuan. In order to meet the technical standards and requirements of customer products, The materials and connectors used in this pipeline system are fundamentally different from those in the automotive sector, which can better meet the needs of customer products. The value of pipeline systems in the energy storage field is much higher than that of pipeline systems in automobiles; Sichuan Chuanhuan Technology Co., Ltd.'s main business is the research and development, design, manufacturing, and sales of rubber and plastic hoses and assemblies for automobiles and motorcycles. The company's main product range covers nine series, including automotive fuel system hoses and assemblies, automotive cooling system hoses and assemblies, automotive accessories, brake system hoses and assemblies, automotive multi-layer composite nylon hoses, automotive turbocharging pipeline assemblies, automotive vacuum brake pipeline assemblies, automotive sunroof drainage pipelines, automotive molded pipeline assemblies, motorcycle hoses and assemblies. The company has strong research and development advantages and technological process advantages. Strict quality control and cost-effectiveness have brought high market recognition to the company's products. The company has established long-term and stable cooperative relationships with large and medium-sized vehicle manufacturers, covering the majority of domestic vehicle manufacturing enterprises. The company continues to refine and strengthen its main business, maintaining stable growth in business performance, and has been rated as one of the top ten units by industry associations for many years, Formed a relatively obvious market advantage position.