Securities code: 002011 securities abbreviation: Zhejiang Dun'An Artificial Environment Co.Ltd(002011) Zhejiang Dun'An Artificial Environment Co.Ltd(002011) record of investor relations activities
No.: 2022-002
Investor relations activities √ specific object research □ analyst meeting
Category □ media interview □ performance briefing
□ press conference □ Roadshow
√ site visit
□ others (please specify other activities in words)
Name of participants and Shenwan Hongyuan Group Co.Ltd(000166) securities Liu Zheng, Bank of communications Schroeder Bai Jiale, Great Wall Fund Liao Hanbo, Chen Liangdong, Chen staff name Zi Yang, Qianhai Kaiyuan Liu Xiaoming, Cinda Australia Bank Ma Qiwen, Schroders Zhang Xiaoying, Huian fund Shen Jinting, Yuanxin Yongfeng Chen Chen, Yuan Lesheng Hong Li Feixuan, Zhuque investment Liu Qing, Bank Of Ningbo Co.Ltd(002142) financial management Gao Han, Xu Tingwei of Hangyin financial management, Liu Jingwen of Yongjin investment, Wu Yan of northeast self-employed, Chang Xinyue of CCB trust, Wang Gaoyuan of cfac asset management, Chen Zheng of Qianhai Wufeng, he Xianyu of Kaidu investment, Zheng Jie of Ruipu investment, Yu Ye and Cai Ye of Dunyi assets, Zhuang Ying of harmonious Huiyi, Ding Lijia of Hongcheng investment, Zuo Aimei of Tongyuan investment and Wang Yu of GF self-employed, Calmly invest in Wu Donghao, Guoxin Investment Hu bin, Guojun automobile Zhao Pingping, Guan Zhengyue, Citic Securities Company Limited(600030) Wang Hao and Wang Shichen
Time: February 23, 2022
Location: No. 288, Jiefang Road, Diankou Town, Zhuji City
Name of receptionist of listed company: Jiang Bing, Secretary of the board of directors, Sha Haijian, deputy general manager of automobile heat management, Wang chenjin, representative of securities affairs
Question 1: what are the products of the new energy vehicle thermal management business, whether they have been mass produced, whether the company's current capacity can meet the needs of customers, what are the possible bottlenecks and future capacity expansion plans
A: Dunan automobile thermal management company's products are mainly: (1) refrigerant side valve parts, including electronic expansion valve, electromagnetic expansion valve, solenoid valve, one-way valve, thermal expansion valve, combination valve, etc; (2) The main contents of the water side parts are introduced, including multi-channel water valve, water pump, etc; (3) Commercial vehicle battery thermal management unit; The above products have been mass produced. At present, the company's production capacity can meet the actual loading needs of customers. Since the first half of 2021, the company has been increasing the investment in production lines. The new production line will be put into operation in about 3-5 months. The planning of the automotive industry is strong, which will give us time to prepare. The company will be able to cope with the bottleneck of increasing production capacity in the later period of 2022. At present, the company will have more production capacity to meet the demand for new equipment, and there may not be any more bottlenecks in the later period of 2022. Question 2: what are the specific advantages of Dunan automobile thermal management products? A: the company has many fist products with their own unique technical advantages. For example, the advantages of electronic expansion valve products include large-diameter electronic expansion valve, which has the advantages of low internal leakage, wide adjustment range, low noise, small volume, impurity resistance, high life and is not sensitive to pressure, It can adapt to carbon dioxide new refrigerant system; At the same time, in terms of solenoid valve, the new generation of solenoid valve we have launched has smaller volume, excellent valve opening performance, extremely low flow resistance, and even 16d solenoid valve has achieved half the volume of the industry; In terms of multi-channel water valves on the water side, it also has multiple platform products such as 10-way, 8-way, 6-way and 3-way, which have basically reached the forefront of the industry. Q3: what are the current cooperative customers of the new energy vehicle business? What are the new customer expansion plans for 2022? A: the company has established cooperation with mainstream new energy vehicle enterprises and systems companies, including Byd Company Limited(002594) , Weilai, ideal, FAW, SAIC, Geely, Chang'an and other main engine plants, Valeo, air conditioning international, Marelli, Sandian, Songzhi, Yuxin At the same time, we have also established a good supply relationship with battery enterprises such as Contemporary Amperex Technology Co.Limited(300750) , Weihong power, mengguli and commercial vehicle enterprises such as Yutong, CRRC, Faw Jiefang Group Co.Ltd(000800) in the field of commercial vehicle battery thermal management. In 2022, the company will strive to expand high-quality overseas customers and Sino foreign joint venture customers. Question 4: how to view the technical development trend and technical iteration speed of new energy vehicle thermal management a: at present, the technology of new energy vehicle thermal management is developing towards heat pump and module integration. The light weight of the whole vehicle and the miniaturization of modules and parts are clear trend requirements, and the refrigerant parts have low internal leakage Low noise is also an increasingly significant technical requirement for thermal management integrated modules. At present, the hybrid car is also developing in the direction of heat pump. At the same time, the control technology is evolving from "point control" to "domain control", and the number of controllers and chips will be effectively reduced. At present, the speed of technical iteration is still relatively fast, and various new functional requirements are gradually put forward. Only when the industry develops and matures, the technical iteration will gradually slow down and eventually tend to be stable. In view of the current rapid iteration stage, combined with the long certification cycle of new products by the vehicle factory, the supplier is required to have faster response speed and better new product iteration ability. Therefore, we have also made corresponding preparations.
Question 5: what are the main differences or technical difficulties between vehicle electronic expansion valve and solenoid valve and household or commercial air conditioning valve? How to treat the transformation of traditional vehicle enterprises and upstream and downstream enterprises in the air conditioning industry into vehicle electronic expansion valve or solenoid valve
Answer: vehicle electronic expansion valve and solenoid valve are installed on new energy vehicles with relatively dynamic scenes such as high-speed driving and vibration. They require stable operation, vibration resistance, lightweight, wide temperature range, high reliability and safety, compact space, smaller design volume, convenient and reliable installation. On the other hand, the thermal management system for vehicles is more complex than the current household or commercial air conditioning system, especially for the thermal management of batteries. The technical threshold for manufacturing such valves is not low. A valve is composed of dozens of precision and small parts, and more than 30 processes are combined to meet the tolerance limit and test requirements.
The development of the automotive valve industry is far from mature. It is an inevitable trend for more enterprises to join. We are also late entrants in the industry. We are willing to embrace change and competition and jointly promote the progress of the industry. As mentioned above, the current vehicle valve technology is in a relatively fast iterative stage, and customers have a long on-board verification cycle for new suppliers, which is a great challenge for new entrants. As the development of the industry tends to mature and the technology iteration slows down, it may face more fierce competition at that time.
Annex list (if any) none
Date: February 23, 2022
