调研速递|美盈森接待长城基金等4家机构 聚焦国内业务稳健发展与海外产能筹划

Core Insights - The company, Meiyingsen Group Co., Ltd., held an online investor meeting on December 4, 2025, with participation from several investment institutions [1][2] Group 1: Business Development - The company aims to maintain steady growth in its domestic business for the upcoming year, indicating that there is significant room for improvement in current capacity utilization [3] - To address redundant capacity, the company plans to transfer some equipment to overseas markets and lease out vacant factory spaces to enhance asset utilization [3] Group 2: Overseas Expansion - The company is planning targeted capacity expansion based on downstream market demand, with some new overseas capacity already in the planning stages [4] - Meiyingsen emphasizes its competitive advantage in overseas markets due to early entry, combined with strengths in product R&D, service, and multi-regional presence [4] Group 3: Profitability and Cost Management - The company aims to maintain stable profit margins for both domestic and international operations, having improved overall profitability by focusing on high-value clients and reducing low-margin orders [5] - In response to raw material price fluctuations, the company will negotiate price adjustments with clients and incorporate material cost variations into new pricing [5] - The company is also addressing currency fluctuations by engaging with banks to mitigate impacts and may consider risk hedging in the future [5] Group 4: Talent and Shareholder Returns - The management structure of overseas factories consists mainly of personnel dispatched from domestic operations, while local recruitment is ongoing for production line staff [6] - The company currently employs cash incentives for talent management and has no stock incentive plans, with future arrangements to be announced [6] - Meiyingsen highlights cash dividends as a key method for shareholder returns and will continue to prioritize dividends, although specific amounts will depend on operational performance and financial conditions [6]