Securities code: 301123 securities abbreviation: Yidong Electronics
Yidong Electronic Technology Co., Ltd
Record of investor relations activities
No.: 2022-002
☑ Specific object research □ analyst meeting
□ media interview □ performance briefing
Investor relations
□ press conference □ Roadshow
Activity category
□ site visit
□ others (please specify other activities in words)
Name of participants: Yi Fangda fund Cai Rongcheng, Ni Chunyao, Ouyang Liangqi
And name of personnel: Lei Zhiyong and Li Ziyang of Morgan Stanley Huaxin Fund
Anxin fund Xu SunYu
Time: 09:00-10:00, February 18, 2022; 14:00-16:00
Location: company conference room (Tencent meeting, on-site communication)
The listed company receives Mr. Deng Yuquan, the chairman, Mr. Wu Shu, the director and chief financial officer, Mr. Xie Zhang, the Secretary of the board of directors, and Ms. Wang Li Jun, the general manager of investment and financing
1、 Company profile
Xie Zhang, Secretary of the board of directors of the company, gave a brief introduction to the company's basic situation, products and core advantages, industry and market and the company's development strategy.
2、 Q & a session
1. What is the future growth point of the company's FPC business? Does the power battery FPC increase the growth of investor relations activities?
A: from the perspective of consumption trend, the market hot electronic products represented by smart phones, 5g communications, AR, VR, wearable devices, smart homes, new energy vehicles, etc. are developing rapidly, the application scenarios of FPC are becoming more and more extensive, and the consumer electronic FPC will grow. On the other hand, the explosive growth of new energy vehicles has driven the rapid development of power batteries. Compared with the traditional FPC, FPC can replace the traditional FPC and has higher production efficiency and safety.
In addition, we also note that new energy power battery manufacturers are also introducing the downstream integrated product CCS (cells contact system, integrated busbar, harness board integrated parts) scheme of FPC. The single vehicle value of CCS can be significantly increased to 2-3 times compared with FPC. Yidong set foot in the power battery management system FPC earlier, and has the ability to coordinate the production and technology of precision structural parts and FPC business. It has good technology accumulation, customer base, production experience and relevant reserves. The growth of power battery management system FPC can be expected. 2. Which customers share of power battery FPC is increasing? How large can it be? A: the explosive growth of new energy vehicles has driven the growth of the power battery industry. From some public information, we can understand that major battery manufacturers are expanding their production capacity, which brings great development opportunities to our supporting FPC manufacturers. We will follow the development pace of leading customers in the industry and strive for rapid growth. 3. Is there any change in the design specification of power battery FPC every year?
A: with the development of the industry, the design of new energy vehicles and the structural design of battery modules will also change. For example, FPC will also change in consideration of space saving, energy density and improving automatic assembly. 4. What other fields will FPC replace the traditional harness?
A: what is emerging is the field of energy storage. Under the dual carbon target, the energy storage industry is expected to develop greatly. When FPC replaces the traditional harness in the energy storage field, it will drive the further growth of FPC demand. 5. How much FPC will a 1GWh battery use?
A: according to our understanding, about 100000 FPCs are used for 1GWh battery.
6. What are the other applications of FPC in new energy vehicles besides batteries?
A: new energy vehicles are becoming more and more intelligent and entertaining. The advantages of FPC in bending, weight reduction and high degree of automation are further reflected. The consumption of FPC in the field of vehicle is increasing. Its applications cover lights, display modules, cameras, sensors, advanced auxiliary systems and other related scenes. Some institutions predict that the consumption of single vehicle FPC will exceed 100 pieces. 7. Connector components have a wide range of applications and are a long-term growth market. What will be the growth point and growth rate of the company in the future?
A: Yes, the connector industry has a large market. In the era of Internet of all things, consumer electronics, automobile, communication, industry, medical treatment and other fields are inseparable from connection. China is also the world's largest connector consumer market, with huge development space. The company is connected with well-known companies outside China
Connector head manufacturers have long-term and stable cooperation. The development of industry and customers will drive the growth of the company's business. At the same time, the company will also carry out R & D and product reserves.
8. LED backlight module products include industrial control and vehicle type. What is the proportion of structure in the future? A: at present, the proportion of industrial control is relatively high, but the proportion of vehicle mounted is rising rapidly year by year. By the third quarter of 2021, the proportion of vehicle mounted products has exceeded 30%. With the rapid development of new energy vehicles, there is a lot of room for the development of vehicle backlight products.
9. What level will the company maintain its R & D investment?
A: in the past three years, the proportion of R & D expenses in the company's revenue has exceeded 6 points. In the future, we will also maintain high R & D investment and maintain the company's leading technology advantage.
10. Does the company have any arrangements for equity incentive?
A: we will timely promote the equity incentive plan according to the actual situation.
Annex list (if any) none
Date: February 18, 2022
