ConST(300445)2022-11-22 03:02Group 1: International Market Strategy - The company aims to create value for users through high-value-added instrument products in major economic markets, including the US, Europe, and Asia [2][3] - The strategic goals for international business include establishing the "Additel" sub-brand as the best industry brand globally and achieving rapid growth through both horizontal and vertical product line expansions [2][3] - The management team for international operations is led by experienced industry professionals, ensuring effective market penetration [3] Group 2: Business Model and Operations - The international market operation model consists of three key elements: rapid iteration of standard products, differentiated services, and a high-growth distributor system [3] - In 2020, 80% of overseas orders were fulfilled through a distributor system, which operates across three major regions: Asia/Oceania, Europe/Middle East/Africa, and North America/South America [3][4] - The distribution strategy includes appointing one or two general agents in each country, managing marketing, sales, and service operations [3] Group 3: Revenue and Market Position - Revenue increased from 16 million in 2020, with product pricing becoming competitive, now at a level above 10% compared to competitors [4] - The company focuses on continuous product development and service quality improvement, particularly in economically developed countries where advanced technology and user experience are prioritized [4] Group 4: Challenges and Adaptations - The company has adapted to challenges such as tariffs, the pandemic, and currency fluctuations, with strategies to mitigate these impacts [4][5] - During the pandemic, the company maintained normal operations and utilized online communication for training and customer engagement [4] - Recent currency depreciation has made products more competitive in the global market, aiding international sales [4] Group 5: Domestic Market Expansion - The domestic market expansion is slower, with about 70% of orders coming from state-owned enterprises and public institutions, which have longer procurement cycles [5] - The company is enhancing sales efficiency through strengthened partnerships with distributors and expanding its sales team [5] - The focus is on creating value for users, aligning the R&D and marketing teams to better understand and meet customer needs [5] Group 6: Product Development - The company is advancing the implementation of MEMS pressure sensors, with ongoing technical validation and collaboration with partners for production [5] - High-end pressure sensors and transmitters are being developed, with competitive pricing compared to established brands like Yokogawa and Emerson [5][6] Group 7: Mergers and Acquisitions - The company has seen positive results from its acquisition of Changfeng Zhiyuan and plans to apply learned experiences to future projects [6] - The acquisition strategy focuses on core technology, management team alignment with company goals, and reasonable valuations [6]