Core Viewpoint - Amway Co., Ltd. (300218) has successfully industrialized national and provincial scientific research projects, emphasizing the importance of collaboration with universities for talent cultivation and practical training [1] Group 1 - The company has achieved significant progress in the industrialization of national and provincial research projects [1] - The company prioritizes partnerships with universities through collaborative projects and the establishment of practical training bases [1] - Development of biodegradable and bio-based materials is progressing in an orderly manner [1]

证券日报网讯 安利股份（300218）11月19日在互动平台回答投资者提问时表示，安利越南当前产能利 用率处于爬坡阶段，仍有提升空间；安利越南主要服务于下游品牌客户在当地及周边的代工厂，直接出 口规模较小。安利越南原材料采购目前以中国国内为主。 ...

Core Viewpoint - The company is expanding its partnerships with major sports brands, indicating a strategic growth in its supply chain and product development capabilities [1] Group 1: Partnerships and Collaborations - The company will become a supplier for New Balance by 2025, with current collaboration in the product development phase [1] - The company is a strategic partner of Anta, co-establishing a technology research center for membrane technology [1] - The company upgraded its partnership status with Nike to a strategic partner starting January 2025 [1] Group 2: Order Fulfillment and Production - Currently, the company has a small volume of cross-border orders being delivered in collaboration with Anta [1] - Orders from Li Ning are primarily being produced and delivered domestically at this stage [1]

Core Viewpoint - Amway Co., Ltd. has experienced a decline in stock price and financial performance, with a notable drop in net profit and revenue in recent periods [1][2]. Financial Performance - As of November 10, 2025, Amway reported a revenue of 1.679 billion yuan, a year-on-year decrease of 6.84% [2]. - The net profit attributable to shareholders for the same period was 121 million yuan, down 19.22% year-on-year [2]. - The company's stock price has increased by 13.24% year-to-date but has seen a decline of 5.25% in the last five trading days and 24.67% over the last 60 days [1]. Shareholder Information - As of November 10, 2025, the number of shareholders increased by 8.63% to 18,400, while the average circulating shares per person decreased by 7.95% to 11,729 shares [2]. - The company has distributed a total of 341 million yuan in dividends since its A-share listing, with 131 million yuan distributed over the last three years [3]. Major Shareholders - As of September 30, 2025, the top ten circulating shareholders included several new entrants, such as Yongying Advanced Manufacturing Mixed Fund and Jiang Hai Securities Co., Ltd. [3]. - Notable changes in holdings include a decrease of 5.05 million shares by Guotai Junan Value Advantage Flexible Allocation Mixed Fund [3]. Company Overview - Amway Co., Ltd. is based in Hefei, Anhui Province, and specializes in the research, production, and sales of ecological functional polyurethane synthetic leather and composite materials [1]. - The company's main revenue sources are ecological functional synthetic leather (94.05%), ordinary synthetic leather (4.26%), and other supplementary products (1.68%) [1].

Core Viewpoint - Amway's product development and marketing efforts in the sports equipment category are progressing smoothly, while the engineering decoration category currently has stable orders but contributes minimally to overall performance [2] Group 1: Sports Equipment - The company is actively developing and marketing products in the sports equipment category [2] - There is a focus on exploring business expansion opportunities in this area based on market demand dynamics [2] Group 2: Engineering Decoration - Current orders in the engineering decoration category are stable [2] - Sales revenue and overall business contribution from this category remain relatively small and do not significantly impact the company's overall performance at this time [2]

Core Insights - The company, Amway Co., Ltd. (300218), reported an increase in the proportion of high-margin products within its functional footwear materials category, indicating an improvement in revenue structure [1] - In response to the trend of consumer upgrading, the company is focusing on high-performance, multifunctional, and environmentally friendly materials and technological innovations [1] - The company aims to deepen collaborations with leading brands and expand its base of quality new customers to enhance market share [1]

Core Viewpoint - The company is actively advancing its global layout to expand market share and enhance international competitiveness through various strategies [1] Group 1: Global Expansion Strategy - The company is establishing a presence in Vietnam to align with the trend of international brand capacity transfer, aiming to better serve global brand clients [1] - A wholly-owned subsidiary in Singapore is being set up to create an offshore trade hub and financial settlement center, simplifying trade processes and providing efficient trade settlement services [1] Group 2: Market Development and Order Optimization - The company is focusing on expanding its international market presence, particularly targeting high-quality clients in Southeast Asia and overseas markets [1] - There is an emphasis on increasing order acquisition from brands in sports, home furnishings, and consumer electronics, aiming to secure more orders and boost revenue [1] - The company is optimizing its order structure by focusing on high-value, large-volume orders to enhance capacity utilization and improve both operational rates and profitability [1]

Core Viewpoint - The company emphasizes its production line's versatility, enabling it to produce various polyurethane composite materials and respond flexibly to order demands [1] Group 1: Product Focus - The company will concentrate on developing high-performance products that are scratch-resistant, wear-resistant, hydrolysis-resistant, and aging-resistant [1] - The focus will also include multifunctional features such as antibacterial, flame-retardant, and low VOCs, alongside ecological and environmental characteristics [1] - The company aims to maintain a high cost-performance ratio while enhancing product advantages to align with the development trends of the new energy vehicle industry [1]

Core Insights - Amway's Vietnam production and sales have steadily increased to approximately 400,000 meters per month, with losses decreasing and achieving monthly profitability in October [1] - The improvement in Amway Vietnam's operational performance is attributed to higher capacity utilization and the gradual realization of economies of scale, which is expected to enhance responsiveness to customer demands and further reduce unit production costs [1] - The positive trajectory in Amway Vietnam's operations is anticipated to contribute to the overall economic benefits of the company [1]

Group 1 - The core viewpoint of the article highlights that Amway's overseas revenue is projected to account for 38.7% in the fiscal year 2024, indicating a strong focus on international market expansion [2] - The company is actively expanding its overseas market presence by building technological barriers through differentiated and specialized products [2] - On the sales front, the company is enhancing customer interaction and market promotion to improve delivery and service quality [2]