The penetration rate of new energy in passenger vehicles has increased, and the industry has a large space, fast growth rate, and an uncertain pattern. According to GGII, the total installed capacity of major new energy drive motor manufacturers has increased from 1.41 million units in 2020 to 3.43 million units in 2021 (+143%), and the market size is in a high-speed growth stage. The market expects that by 2025, the market size of new energy passenger vehicle drive motors in China will be 38.5 billion yuan.
The penetration rate of electrification in the commercial vehicle and construction machinery sector is rapidly increasing, and it is expected that the market space will exceed 10 billion yuan. In terms of commercial vehicles, Roland Berger predicts that by 2030, the pure electric penetration rate of medium and heavy trucks will reach over 25%, and that of light trucks will exceed 30%. In terms of construction machinery, BCG predicts that the Chinese pure electric construction machinery market will reach an explosive point in 2025-26, and by 2035, the penetration rate of pure electric construction machinery may reach 30%. The market size of both will grow rapidly and exceed billions. Zhejiang Shangchi currently holds a leading position in the market for commercial vehicle and construction machinery drive motor products.
Permanent magnet synchronous motors dominate the domestic new energy vehicle drive motor market.
According to GGII, permanent magnet synchronous motors accounted for 94% of the domestic new energy vehicle drive motor market in 2021.
The third-party motor assembly is located on the right side of the smile curve of the new energy vehicle drive motor industry chain, with a high profit margin. According to the Global Wind Energy Council, the cumulative installed capacity of wind power worldwide reached 837GW in 2021, a year-on-year increase of 12.80%; It is expected that the global wind power installed capacity will reach 119.4GW by 2025. Zhejiang Shangchi's wind turbine products are mainly sold to leading wind turbine manufacturers in industries such as Yuanjing.

Market objectives
It is expected to reach over 2.5 billion yuan per year in 2027, with a cumulative operating revenue of over 7.5 billion yuan in the next five years and a compound growth rate of 180%.

It is expected that the net profit will reach over 160 million yuan per year in 2027, and the cumulative net profit over the next five years will be over 330 million yuan.

Master Plan

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