Report Summary: The bus body bus market share is the highest in China. The company's main business focuses on bus body CAN bus products, with a market share of about 40%, ranking first in the country. In the field of car body electronics, buses have a high degree of localization due to their characteristics of small batches and high degree of customization. In the passenger car sector, foreign brands monopolize most of the market with their own technology, brands, and aggressive price policies, making it difficult for companies to break through in a short period of time, so in the short term, the company's target market will still focus on the bus and truck sector, which has been snubbed by foreign-funded companies. There is still room for significant improvement in bus assembly rates. Currently, the CAN bus assembly rate for large and medium-sized domestic buses is only about 40%, and there is still room for significant improvement compared with the 100% assembly rate overseas. The low domestic assembly rate is mainly due to cost and consumer awareness: the cost of large and medium-sized buses equipped with CAN buses has increased by at least 10,000 yuan, so only high-end models or customer requirements can be assembled, but under the drive of vehicle electronics and energy saving, traditional peer-to-peer wire harness communication methods will be eliminated, and CAN buses will be the mainstream choice. Furthermore, it was only in 2008 that CAN bus technology for buses began to be promoted on a large scale in China. After 7 years of market cultivation, terminal consumer awareness has increased, and the CAN bus assembly rate is rapidly increasing. In the field of new energy vehicles, a body CAN bus will be standard, and the company has carried out a forward-looking product layout. The truck CAN bus market is expected to break the ice. 100% of truck CAN buses are assembled in the European and American markets, but the domestic assembly rate is extremely low. Apart from cost reasons, the emission and safety requirements for trucks are not the same. With the implementation of national IV emission standards, domestic truck CAN buses are expected to break the ice. Domestic truck sales far surpass that of buses, and truck CAN buses are standardized products, making them easy to mass produce. The company has been working in the truck sector for many years, and the truck CAN bus is expected to become the company's new growth driver. In addition, the company uses car body bus entrances to actively lay out the vehicle network, focusing on the bus network in the short term. The purpose of the network of vehicles is to extend to the service side and enhance the added value of products and customer stickiness. Risk warning: demand in the bus market is sluggish; truck market expansion falls short of expectations