Bafang Shares (603489): New Share Inquiry Report

The company mainly develops, produces, sells and provides technical services for manual electric treadmill motors and supporting electrical systems.

The company’s main electric scooters (Pedelec) are also called electric power-assisted bicycles. In order to distinguish new products from existing products, experts recommend using electric scooters to name new electric bicycles to show that they are similar to traditional electric bicycles.the difference.

In addition, the company’s in-wheel motor products are inserted into electric wheelchairs, electric scooters, and garden lawn mowers through expansion and contraction.

After years of development, the company already has more than 80 types of motor products, including two types of motors: center-mounted motors and wheel hub motors. At the same time, the supporting supply capacity of complete sets of electrical systems such as controllers, sensors, meters, and batteries can be used for mountain bikes.Different types of electric treadmills, such as road bikes and urban (leisure, mobility) bikes, provide electrical system adaptation solutions.

  (1) The company’s emerging company with technology research and development as its core has a continuous technology research and development team and higher technology research and development capabilities. The actual controller, Mr. Wang Qinghua, has nearly 30 years of research and development experience, and is a major expert in the field of electric treadmill electrical

In 2014, the company successfully developed the Wutong bowl inverter / speed sensor independently, becoming one of the few companies in the world with independent production capacity of inverter sensors.

  (2) The issuer attaches great importance to brand building, conducts continuous brand promotion in major consumer places through multiple channels, and continuously improves the company’s own brand awareness.

The electric treadmill equipped with the publisher’s electrical system has won the 2015 German Electric Bicycle 24 Hour Rally Championship, the 2016 Vehicle Plus Champion sponsored by the Dutch Plus Magazine, the European Bicycle Bike Evaluation Champion hosted by ExtraEnergy in 2016, and Japan in 2017. CYCLE SPORTS “Champion.

When a former U.S. President visited China for the first time, the Chinese government presented two electric bicycles as a national gift. The power system was provided by the issuer.

Through continuous publicity and investment, the 杭州桑拿 “BAFANG” and “8FUN” brands have formed a good reputation in the industry.

  (3) The company’s products have the characteristics of multiple models, multiple expansions, and small batches. According to the different needs of different customers, different product design and production methods are used to accumulate customized production experience.

At present, the company supplies Uber’s affiliated shared electric bicycle Jump (the domestic vehicle assembly plant is Shenzhen Xidesheng Bicycle Co., Ltd.), and has achieved rapid growth in 2018.