Hammer Technology: Tire Mold Business Continues to Maintain High Growth
The world's largest manufacturer of automotive tire molds , Hammer Technology has a global market share of 7% and a domestic market share of 13%. Compared with domestic counterparts, in addition to occupying an advantage in market share, the company's product gross margin averaged about 5 percentage points higher than that of its peers. The mold business continued to maintain its leading position because of its precision manufacturing capabilities. Tire molds are high-tech, high-precision, high-value-added personalized products. With their excellent R&D and manufacturing capabilities and precision machining capabilities, they can produce their own special EDM machines, which can maintain the high precision of their products and their quality is internationally recognized. The major tire manufacturers recognized that at the same time as depreciation is relatively low, the price has a competitive advantage over the same industry. Tire mold will maintain a higher degree of boom Tyres and tire molds are consumables. China's huge car ownership and fierce competition in the automotive industry will accelerate the update of tire treads and models. It will bring stable demand to the tire mold industry and consider the transfer of global tire production capacity to China. And overseas tire giants to reduce the mold self-supply rate, these factors will promote the Chinese tire mold market to maintain a higher degree of prosperity. 30% growth rate of mold business in the next three years Haomai Technology has taken an advantage in the field of tire molds. Taking advantage of the company's self-manufactured equipment and precision manufacturing capabilities, we believe that the company's new tire mold capacity can be digested, and the tire mold business will continue to maintain a high growth rate of more than 30% in the next three years. Domestic and foreign market share will continue to increase.
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