JINGU(002488)2023-10-30 02:26Group 1: Company Overview - Zhejiang Jingu Co., Ltd. is a high-tech enterprise focused on the research, production, and sales of automotive wheels, recognized as a leading enterprise in the automotive parts industry in China [1] - The company has been awarded the title of "Green Factory" by the Ministry of Industry and Information Technology in 2021 and recognized as a "Specialized, Refined, Characteristic, and Innovative" enterprise in Zhejiang Province in 2022 [1] Group 2: Product Innovation - The company has developed the "Avatar Low-Carbon Wheel," which features innovations in processes, materials, and design, making it lighter, more precise, and aesthetically pleasing compared to traditional wheels [2] - The Avatar Low-Carbon Wheel significantly reduces carbon emissions, aligning with national energy transition goals for "carbon peak and carbon neutrality" [2] Group 3: Financial Performance - In the first three quarters of 2023, the company reported a revenue of CNY 2,529.93 million, a year-on-year increase of 12.12% [2] - The revenue for Q3 2023 was CNY 854.36 million, reflecting a year-on-year growth of 10.69%, with a net profit attributable to shareholders of CNY 9.18 million, up 59.50% [2] Group 4: Market Strategy - The core strategy focuses on expanding production capacity for the Avatar Low-Carbon Wheel to meet market demand both domestically and globally [2] - The company has established production lines with a capacity of 2 million units in Fuyang, 2 million units in Hefei, and plans to reach a total capacity of 5 million units by the end of the year [3] Group 5: Competitive Advantages - The Avatar Low-Carbon Wheel offers significant advantages over aluminum wheels, including cost reduction for manufacturers, comparable weight, and a material strength approximately 5-6 times that of aluminum wheels [3] - In the commercial vehicle sector, the Avatar wheels are lighter and have improved precision and strength, making them a viable alternative to traditional steel wheels [3] Group 6: Future Plans - The company plans to enhance its production layout for the Avatar Low-Carbon Wheel, capitalizing on the growing market for new energy vehicles and traditional fuel vehicle transitions [4] - The company aims to maintain its first-mover advantage and scale advantages by accelerating capacity construction to meet increasing customer demands [4]