FIYTA(000026)2024-10-30 12:09Group 1: Business Performance - The overall operating revenue for the first three quarters decreased by 13.82% year-on-year, primarily due to declines in watch brand and luxury retail service revenues [1] - The export value of Swiss watches to mainland China has dropped by over 20% this year, indicating significant pressure on the domestic watch market [1] - Despite the challenging industry environment, the company's watch business has shown stable performance with a slight increase in market share [1] Group 2: Strategic Focus - The company plans to enhance its watch business performance by investing in core resources, product quality, brand structure adjustments, channel operation efficiency, and targeted marketing [1] - The precision technology and smart wearable sectors are prioritized for strategic development, aiming for breakthroughs in emerging industries [1] Group 3: Consumer Trends - The offline sales remain dominant for luxury watches, while the online sales of the self-owned brand "Feiyada" have increased, particularly for high-value products on e-commerce platforms [2] - There is a noticeable brand differentiation in the mid-to-high-end watch market, with consumers favoring brands that offer unique designs and better value [2] Group 4: Channel Management - The company emphasizes quality over quantity in channel management, focusing on optimizing store structures and improving operational efficiency [2] - The number of retail stores for the "Hengjili" luxury watch business is nearly 200, while the self-owned brand "Feiyada" has over 2000 stores [2] Group 5: Shareholder Engagement - The company is committed to enhancing its quality through operational performance, corporate governance, compliance, and investor relations management to boost shareholder value [3] - Ongoing initiatives include share buybacks and maintaining cash dividends to improve shareholder returns [3]