1、7T2se3r0Ot6kwoPa7T2se3r0Ot6kwoPaDistributed on:14/09/2025 18:23:40 GMTDistributed on:14/09/2025 18:23:40 GMT15 September 2025Deutsche BankResearch Rating Buy Asia Hong Kong Consumer Autos&Auto Technology Company Johnson Electric Date Company Update Jiangmen plant visit takeaway:on track for manufact

2、uring automationJiangmen plant showcases Johnson Electric manufacturing automation effortsJohnson Electrics Jiangmen plant showcases the companys continued efforts to automate its production and reduce costs.The Jiangmen plant is the flagship factory in the companys automation efforts,with 65-70%of

3、production volume from automated production lines.Management indicated the average cycle time(time to produce one unit of product)for an automated line is 2-4 seconds with 2-4 direct labour employees per line,compared to 15 seconds with 20 direct labour employees for traditional hand made lines.The

4、Jiangmen plant currently employs 8,700 employees(with 4,000-5,000 employees for direct labour used in production),and the company targets a reduction to 5,000 employees at the plant in the next 2-3 years(with 1,500-2,000 employees for direct labour),while maintaining current production levels via fu

5、rther automation.The Jiangmen plant currently occupies 204 acres of land(total land area 550 acres),with plans to expand additional production and engineering R&D centers.Expansion plants for the Jiangmen plant are currently on hold due to the uncertain tariff environment,as the company seeks to opt

6、imize its global production footprint.Entry into Chinese humanoid robot market with formation of joint ventureJohnson Electric has announced its entry into the Chinese humanoid robotics market with the formation of two joint ventures(JVs)with the Shanghai Mechanical&Electrical Industrials company(SM