Group 1 - The core viewpoint of the news is that YuDe Investment has conducted research on a listed company, JieYa Co., which aims to expand its global business by increasing its overseas sales proportion to over 50% by 2025 [1] - JieYa Co. is currently constructing a wet wipe factory in the United States, expected to commence production next year, utilizing automated production lines and optimized management processes to control costs [1] - The company faces risks related to factory renovation and approval processes, customer audits, production timelines, and cultural differences between China and the U.S. [1] Group 2 - JieYa Co. has a stable order book for its wet wipe business and has secured additional business from key clients in Europe and Canada [1] - The cosmetics business primarily focuses on OEM for international brands while also expanding into domestic clients, although the order scale remains small [1] - The collagen business is in a strategic adjustment phase with no substantial progress made yet, while the development of its own brand has not met initial expectations, leading to a significant reduction in investment [1] Group 3 - The future business drivers for JieYa Co. include the expansion of existing brand client businesses and the construction of the U.S. factory [1]
【私募调研记录】煜德投资调研洁雅股份