八方股份(603489) - 投资者调研活动会议纪要

Financial Performance - In 2021, the company achieved revenue of approximately CNY 2.647 billion, a year-on-year increase of 89.47% [2] - The net profit attributable to shareholders was approximately CNY 607 million, up 50.79% year-on-year [2] - R&D expenses for 2021 were about CNY 80.6742 million, reflecting a growth of 71.15% [2] - For Q1 2022, revenue reached approximately CNY 762 million, a 44.55% increase year-on-year [3] - The net profit for Q1 2022 was around CNY 180 million, growing by 19.50% year-on-year [3] Product Performance - Sales of mid-mounted motor products increased by approximately 39.44% in 2021, with stable gross margins [3] - Hub motor sales saw a significant rise of about 82%, although gross margins slightly declined due to rising raw material costs [3] - Direct-drive integrated wheel motors sold approximately 2.86 million units in 2021, but remained at a marginal profit level [3] Market Insights - The company anticipates a 15%-20% annual growth in the European market, despite potential impacts from the Russia-Ukraine conflict [4] - The U.S. market experienced explosive growth, with estimated sales increases of 80%-100% last year, although growth may slow this year due to subsidy changes [5] - The company has established an electric motorcycle division focusing on high-speed motors, primarily for export [6] Supply Chain and Operational Challenges - Supply chain tensions are expected to persist in the short term, affecting order fulfillment and production schedules [7] - The company has faced challenges due to chip shortages but has adapted by using domestic alternatives [9] - Recent COVID-19 restrictions in Suzhou have impacted production and logistics, but the company has managed to mitigate significant negative effects on order delivery [10] Strategic Responses - The company is committed to increasing R&D efforts to enhance innovation and product quality [14] - A new brand, "Sutong," was established to target the mid-to-high-end market, allowing the main brand to maintain its value [14] - The company emphasizes improving service quality and response times through overseas subsidiaries and partnerships [14]