Stock code: 603009 Stock abbreviation: Beite Technology AnnouncementNo.: 2023-038
Shanghai Beite Technology Co., Ltd.
Announcement on the convening of the semi-annual performance briefing in 2023
The board of directors and all directors of the Company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibilities for the authenticity, accuracy and completeness of its contents.
Shanghai Beite Technology Co., Ltd. (hereinafter referred to as "the Company") held the 2023 semi-annual performance briefing in the Shanghai Stock Exchange Roadshow Center (website: //roadshow.sseinfo.com/) from 15: 00 to 16: 00 on Monday, October 16, 2023. The announcement of the performance briefing is as follows:
First, the performance briefing will be held.
On September 29th, 2023, the company disclosed the Announcement of Shanghai Beite Technology Co., Ltd. on Holding the 2023 Semi-annual Performance Presentation Meeting (AnnouncementNo.: 2023-037) on the website of Shanghai Stock Exchange (www.see.com.cn).
On October 16th, 2023, from 15: 00 to 16: 00, Mr. Jin Xiaotang, general manager of the company, Ms. zhangyan, deputy general manager and chief financial officer of the company, Mr. Liu Gongyou, deputy general manager and secretary of the board of directors, and Mr. Jia Jianjun, an independent director, attended the performance briefing, exchanged views with investors on the company’s operation and issues of concern, and answered questions of general concern to investors.
Second, the main problems raised by investors and the company’s reply.
The main questions and answers raised by investors in this performance briefing are as follows:
1. Does the company supply Huawei with goods?
Reply: Dear investors, hello! At present, the company indirectly supplies steering gear rack, gear, shock absorber piston rod and other products to Huawei Wenjie series vehicles through Tierneone customers. For the company, since its inception, its main business is to develop, produce and sell automobile steering gear parts and shock absorber parts. After years of development, the products have covered steering gear rack, gear, torsion bar, worm, output shaft, input shaft, shock absorber piston rod, etc. According to this semi-annual report, the company’s customer system has basically covered all well-known steering system and shock absorber system manufacturers at home and abroad, among which rack and piston rod products are
In their respective segments, the market share of sales exceeds 50% (see this semi-annual report for details). So,
The company indirectly supplies the above products to Huawei Wenjie series vehicles, which belongs to the company’s normal basic business.
The company hereby reminds you to pay attention to investment risks. Thank you for your attention!
2. Why did the company’s semi-annual revenue increase year-on-year? But the net profit is declining?
Reply: Dear investors, hello! In the first half of the year, the company achieved an operating income of 851 million yuan, an increase of 69 million yuan or 8.88% over the same period of last year, of which the main business income increased by 959% over the same period of last year, with an increase of 73.43 million yuan, mainly due to the main business income of BYD’s aluminum alloy lightweight project, which was 50.3091 million yuan, a substantial increase of 473% over the same period of last year. At the same time, with the partial recovery of the automobile market, chassis parts and air-conditioning compressors.
However, with the expansion of new business and new projects in various business segments, the expenses of various periods in the first half of the year increased compared with the same period of last year; At the same time, due to the different distribution of income in the same period, the income in the second quarter increased more than that in the same period last year, so the credit impairment loss accrued according to the policy increased compared with the same period, and the comprehensive impact made the net profit attributable to shareholders of listed companies decrease compared with the same period. Thank you for your attention!
3. Excuse me, have the company’s ipb-flange products started to be supplied to Bosch?
Reply: Dear investors, hello! The product is produced by Wuxi factory where the company’s high-precision division is located, and has been supplied to Bosch in batches. Thank you for your attention!
4. What was the company’s performance in the third quarter?
Reply: Dear investors, hello! The company will disclose the third quarter report of 2023 on October 31, 2023. Please pay attention to the company announcement at that time. Thank you for your attention!
5. What is the progress of the company’s new aluminum alloy factory in Dafeng, Yancheng, Jiangsu?
Reply: Dear investors, hello! The company attaches great importance to aluminum alloy lightweight business, and has completed the installation of the first production line in the newly laid production base in Dafeng, Yancheng, Jiangsu Province, and has started production. Thank you for your attention!
6. Is there a new order for the company’s integrated thermal management business?
Reply: Dear investors, hello! Great progress has been made in the integrated thermal management system of commercial vehicles, which is the key layout of the company, and it has been designated as a water-cooling unit project of a certain domestic OEM customer (see announcement No.2023-030 for details); The vehicle integrated thermal management system project jointly developed with Sany has recently won the Product Purchase Contract of Sany, and is ready to formally enter mass production. In addition, the company is still in contact with a number of head commercial vehicle OEMs to strive for more orders. Thank you for your attention!
7. Is there any business cooperation between the company and Tesla?
Reply: Dear investors, hello! The company has replied many times through "SSE e-interaction", and the company indirectly supplies the corresponding parts and components to Tesla through Tier one customers. Thank you for your attention!
8. What is the newly added "IPA assembly" product in the company’s semi-annual report? Who is the client?
Reply: Dear investors, hello! This product is assembled by a small assembly of input shaft, gear and torsion bar, and is used in automobile steering gear. The customer is Wandu, but it has not been mass-produced and supplied yet. Please pay attention to the investment risk. Thank you for your attention!
For details of the company’s 2023 semi-annual performance briefing, please visit the Shanghai Stock Exchange’s Shanghai Roadshow Center (website: //roadshow.sseinfo.com/). The company would like to express its heartfelt thanks to all investors who actively participated in this briefing and have long been concerned about and supported the company’s development! It is hereby announced.