HAERS(SZ:002615) Zheng Quan Shi Bao Wang·2025-08-25 23:49Core Viewpoint - Hars (002615) reported a revenue of 1.571 billion yuan in the first half of 2025, representing a year-on-year growth of 12.83%, with a net profit attributable to shareholders of 91.35 million yuan, successfully navigating international trade frictions and tariff wars through strategic adjustments and overseas capacity expansion [1] Group 1: Overseas Capacity Expansion - The company accelerated its overseas capacity layout to address challenges from international trade frictions and tariff wars, achieving full production at its Thailand Phase I factory in early 2023 and completing Phase II during the reporting period [1] - Hars implemented a mixed support mechanism of "domestic experts + local talents" to ensure rapid delivery of high-quality products, receiving positive feedback from core customers [1] - The Thailand base has been upgraded to a flagship center for global cup and kettle manufacturing, enhancing local operations and integrating into local policies and cultural environments [1] Group 2: Brand Development and Market Strategy - Hars is steadily developing its own brand, capitalizing on the low concentration and high consumption frequency in the Chinese cup and kettle industry, completing a dual upgrade of its brand center [2] - The company has launched 40 new products, increasing the pace of new releases from biannual iterations to monthly updates and quarterly major launches [2] - A multi-channel network has been established, combining offline, online, new retail penetration, private domain retention, and instant retail, along with a channel ROI evaluation model to optimize performance [2] Group 3: Customer Structure Optimization - Hars adopted a strategy of "stabilizing existing customers, increasing new customers, and focusing on quality" to optimize its customer structure, maintaining traditional business volume with core customers while expanding into new markets [2] - The company diversified its order sources by acquiring new projects and products from core customers and exploring new customers in new regions [2] Group 4: Product Innovation and R&D - Hars enhanced its R&D management to quickly translate technological strengths into core competitive advantages, focusing on market demands and potential opportunities [3] - The company actively develops new materials, technologies, and processes, improving the quality and efficiency of OEM product development [3] - Hars emphasizes manufacturing delivery capabilities, technological R&D advantages, brand channel strengths, and talent-driven advantages, continuously upgrading its smart manufacturing capabilities [3]