The annual output of Fulin Seiko is 180,000 units of vehicle-mounted electric drive reducer project, which is basically completed

Jiwei network news, recently, Fulin Seiko said in an investor survey that the company's vehicle-mounted electric drive reducer has an annual production capacity of 150,000 units (sets), and the construction of the second new annual production capacity of 180,000 units (sets) of the second phase of the project has been basically completed, and it is being pulled in small batches, and it is expected to be officially mass-produced in the first half of 2022, when the company's annual production capacity of the on-board electric drive reducer reaches 330,000 units / set.

According to the data, Fulin Seiko is a leading enterprise and hidden champion in the field of domestic automotive engine parts segmentation, its main products precision hydraulic parts and electromagnetic drive parts first to achieve domestic substitution, relying on precision manufacturing advantages, Fulin Seiko accelerated the layout of new energy vehicle intelligent electronic control system, including thermal management system, new energy vehicle reducer, intelligent shock absorption system, the main representative products are electronic water pump, electronic water valve, vehicle reducer, transmission solenoid valve and CDC solenoid valve.

In the field of auto parts, Fulin Precision Tools has four major advantages: (1) Rich product lines, high market share of some products, is a major auto parts supplier with high influence in China. (2) Customer structure advantages, customers are mainstream automobile engine manufacturers at home and abroad, has formed a host market as the mainstay, aftermarket as a supplement, the domestic market as the mainstay, the foreign market gradually breakthrough market pattern. (3) R & D strength advantages, core R & D personnel and R & D expenses are on the rise year by year, with industry-university-research cooperation institutions, perfect design standards, long-term development experience and a full range of patent protection. (4) Cost control advantages, through platform production, lean production management, supply chain management, accurate control of costs.

Fulin Seiko said that the company relies on the original cooperative relationship in the new energy vehicle intelligent control industry, follows the traditional 3 fuel vehicle customers to enter the field of new energy vehicles, and continues to achieve first-mover advantages in cooperative research and development, synchronous research and development, etc.; relying on the cooperative relations and needs of customers such as United Electronics (UAES) and Huawei, in the case of continuous climbing and increment of new energy vehicle electric drive reducer projects, continue to import new energy vehicle intelligent electronic control systems and key components business, forming a system integration advantage At the same time, relying on the company's advantages in the field of traditional automotive engine precision parts over the years, it actively expands its business to new car-making forces.

In addition, Fulin Seiko believes that the development of new energy vehicles is the trend of the times, and there are still incremental opportunities in the stock market. With the adjustment of the supply chain of large european and American car companies, orders and production capacity in Europe and the United States have also shifted, and the traditional parts business of Fulin Seiko has not decreased but increased in the past two years. The core competitiveness of Fulin Seiko is the precision manufacturing advantage and stable customer cluster, and the supply of these models in the early stage is still stable, but the products are upgrading and switching. Therefore, the traditional plate also has a certain stable growth window, and it is also a plate that lays the foundation for the performance of Fulin Seiko.

Fulin Seiko also has a new energy lithium iron phosphate cathode material, mainly used in new energy vehicle power batteries, and has made phased progress and achievements in terms of capacity layout, technology upgrading and market position. With the improvement of the overall prosperity of the new energy lithium battery industry, the production and sales of lithium iron phosphate industry are booming, and with the rapid increase in downstream lithium battery production capacity and production and sales, lithium iron phosphate has a shortage of supply.

At present, the overall effective capacity and supply of the industry are difficult to meet the needs of core customers in the short term. In the second half of 2020, the subsidiary Jiangxi Shenghua annual output of 12,000 tons of lithium iron phosphate plant was upgraded, in February 2021 in Sichuan Shehong to build an annual output of 50,000 tons of lithium iron phosphate project, at the end of 2021, the annual output of 50,000 tons of lithium iron phosphate cathode material project has been officially put into production, production capacity orderly release and has begun to supply in batches, as of now, Fulin Seiko has an annual output of 62,000 tons of lithium iron phosphate production capacity.

From the current industry situation, with the rapid development of the new energy lithium battery industry, the upstream lithium source has a tight supply and a rapid rise in prices. In view of the fact that the upstream lithium source price will be directly transmitted to the downstream battery customers, customers in order to ensure the installation of terminal core models and control the cost of comprehensive materials, will also assist in the upstream lithium source supply; Fulin Seiko said that the company's participation in Hengxinrong Lithium Company has achieved priority supply assurance, with the further operation of Hengxinrong and the subsequent acquisition of mining rights, Hengxinrong's supply capacity for lithium carbonate and lithium phosphate will be significantly enhanced; the company will also diversify and expand upstream lithium source channels to enrich and ensure the stability of lithium source supply.

In 2021, the board of directors and management team of Fulin Seiko concentrated on the new energy industry track, achieved a good start in terms of capacity expansion, strategic cooperation, resource expansion, and combination of industry and finance, and laid a solid foundation for subsequent development in terms of strategic focus, organization construction and innovation-driven mechanism. Fulin Seiko said that the company will grasp the development trend of automobile electrification and intelligence, take the new energy automobile industry chain as the main track, accelerate the layout of the intelligent electronic control industry, promote the company's business from traditional precision machining to intelligent electronic control and mechatronics direction upgrade, synchronously and actively accelerate the layout of lithium iron phosphate cathode material production capacity, continue to promote technology iteration and product upgrading, strengthen in-depth cooperation with industrial chain ecological partners, quickly grab the beach card slot in the new energy power market, and continuously enhance the company's comprehensive competitive advantage. (Proofreading/Andy)