Tianrun Industry(002283)2024-08-23 10:56Group 1: Company Overview - Tianrun Industrial's crankshaft business accounts for 62.27% of total revenue, while connecting rod business contributes 23.14% [1][2] - Heavy-duty truck crankshaft revenue constitutes approximately 40% of total revenue, medium engine crankshaft nearly 5%, and light-duty engine crankshaft around 12% [2] Group 2: Profitability and Market Position - Heavy-duty truck crankshaft has a gross margin of about 26%, while passenger car crankshaft has a gross margin of 19% [2] - The market share for medium and heavy-duty truck crankshafts is approximately 60%, indicating limited room for growth [2] Group 3: Production Capacity and Future Plans - Current crankshaft production capacity is 2.6 million units, and connecting rod capacity is 7.6 million units, sufficient to meet domestic heavy-duty truck demand of 1.1 to 1.2 million units [2] - The company plans to establish three new production lines for passenger car air springs and related components in the second half of the year [3] Group 4: Strategic Initiatives - The establishment of a factory in Thailand aims to address tariff and economic blockade issues, with plans to expand into India, the Middle East, and Southeast Asia [2] - The company is focusing on developing its chassis suspension business, while also exploring opportunities in the electronic steering system market [3]