奥特迅：公司产品以直销为主

Core Viewpoint - The company, Aotexun (002227), primarily relies on direct sales for its products, with a stable customer base concentrated among major state-owned enterprises and local energy investment platforms [1] Group 1: Company Overview - Aotexun's products are mainly sold through direct sales channels [1] - The company's customer base includes large state-owned enterprises such as State Grid, Southern Power Grid, China National Nuclear Corporation, China General Nuclear Power Group, and various power generation groups [1] - The brand recognition and loyalty among customers in the industrial power supply sector are notably high, leading to a significantly higher repurchase rate compared to competitors [1] Group 2: Industry Insights - The industry has experienced years of rapid growth, resulting in limited existing orders and insufficient incremental order space [1] - The accounts receivable period for the company is relatively long, which may impact cash flow [1]