CIXING(300307)2024-05-14 10:08Group 1: Sales Model and Revenue Recognition - The company's sales model combines "self-sales and sales consultant assistance," utilizing consultants with local market knowledge and experience in knitting machinery sales [2] - Revenue recognition requires: 1) An initial payment of at least 30% of the contract amount, 2) Completion of installation and acceptance by the customer, and 3) Receipt of an acceptance certificate [2] Group 2: Export Performance - In 2023, the company's export accounted for 9.92%, a decrease of 22.35% compared to 2022, primarily due to foreign exchange issues in Bangladesh [2] - The company exports mainly to Bangladesh, Cambodia, Vietnam, Myanmar, and Indonesia, with recent improvements in credit issuance in Bangladesh due to World Bank loans [2] Group 3: Future Growth Points - Future growth points include: 1) Upgrading existing equipment, 2) Replacing imported equipment with domestic alternatives, 3) Increased demand for one-line forming due to labor shortages, 4) E-commerce trends leading to small batch production, 5) Rising demand for fine needle machines due to changing fashion styles, and 6) Strong R&D capabilities and improved after-sales service attracting major clients [2][3] Group 4: Strategic Focus - The company's short-term strategy focuses on solidifying its core business in the intelligent knitting equipment sector, enhancing market share, and promoting advanced computer-controlled knitting machines [3]