Precision Forging Technology was investigated by 7 organizations： the company started mass production in Q1, 2023 for the supporting business (domestic+export) of Volvo’s second-generation new energy
() The Record Form of Investor Relations Activities was released on March 7, and the company was investigated by seven institutions on February 22, 2023, with institutions of other types, fund companies and securities companies.
The main contents of investor relations activities are introduced:
Q: Review of operation in 2022.
A: In 2022, the company’s overall revenue increased by 27%, mainly due to the supporting business of new energy vehicles and the export market business, of which the supporting business of new energy vehicles accounted for about 22% in 2022, the export market business accounted for about 33% in 2022, and the export growth rate was over 30%.
Q: Expectation in 2023
A: In 2023, the company is expected to achieve an overall revenue growth of 30%. It is estimated that domestic revenue and export revenue will basically keep pace with growth, and the proportion of new energy revenue is expected to reach more than 30%.
Q: What are the incremental plates in 2023?
A: In 2023, the main increase will be in supporting the business segment and export business segment for new energy vehicles. Traditional fuel vehicles will enter the batch production with new localization projects, which will also contribute to some growth.
Q: The ratio of fuel vehicles to new energy vehicles in exports.
A: In the export business in 2022, the business income supporting fuel vehicles will account for 80%+, and the proportion of new energy income in the export business in 2023 will increase year-on-year.
Q: The specific gravity of differential assembly products.
A: In 2022, the differential assembly revenue will account for about 17% of the total revenue, and the target in 2023 will be more than 25%.
Q: Major customers of agricultural machinery sector.
A: The main customer of agricultural machinery is John Deere.
Q: Long-term planning by product and business.
A: New energy vehicles: differential gears, differential assemblies, main reduction gears and motor shafts.
The target is that in 2025, the revenue from supporting new energy vehicles will account for more than 50%. Lightweight field: air-conditioning compressor scroll, chassis system forgings, thermal management system forgings, etc., target chassis system forgings, thermal management system forgings, etc. began to contribute revenue in 2024.
Q: Matching situation of major customers in North America.
A: The company’s domestic market support for major customers in North America has basically reached expectations. In the near future, it will arrange a team to visit its European factory to meet the supply issues.
Q: Volvo’s new energy project
A: The company started mass production for Volvo’s second-generation new energy vehicle supporting business (domestic+export) in Q1, 2023. Its next-generation new energy vehicle differential assembly and motor shaft are under negotiation and are progressing smoothly.
Q: BYD project
A: The company mainly supports differential gears for (). BYD has four platforms of differential business. The company has been supporting differential gears for the platform with the largest output, and the gears for the other three platforms have also been developed and are currently being tested and verified.
Q: The business of well-known technology companies in China.
A: The company has been developing differential assemblies for its different platforms, and plans to start mass production in 2024.
Q: Geely Automobile’s business:
A: The company has been supporting motor shafts for Geely in batches. In addition, the differential assembly business has obtained the fixed point of its new project, and the assembly is currently being tested and verified.
Q: New Power Customer Business
A: Major new car-making customers, such as Ai ‘an, Weilai, Ideality, Tucki, Lingpao and Nezha, have cooperated with them. The main supporting products are differential gears and differential assemblies.
Q: Main gear reduction business
A: At present, the production capacity of the project is already under construction, and the target customers are also docking. The goal is to contribute revenue in 2024.
Q: Plans to build factories overseas
A: In 2022, the company’s export accounted for 33%, of which North America accounted for about one third of the export. Considering the factors such as tariffs, market competition and expansion, and customer requirements, the company will start the overseas factory building planning in Asia, Europe and North America in real time, and will announce the actual progress in time.
Q: What is the impact of changes in raw material prices?
A: The company and most customers have a mechanism for adjusting the fluctuation of material prices, and the impact of changes in raw material prices on costs is relatively controllable;
The main business of Jiangsu Pacific Precision Forging Technology Co., Ltd. is bevel gear of automobile differential, combined gear of automobile transmission, shaft parts of automobile transmission, EDL (electronic differential system gear), synchronizer gear ring, clutch drive hub parts, parking gear, motor shaft and differential assembly for new energy vehicles, and gears for high-end agricultural machinery. The company’s main products are divided into bevel gears and combined teeth.
Details of participating institutions are as follows: