Core Viewpoint - Kin Yat, a leading OEM manufacturer for IROBOT, is experiencing robust growth driven by strong shipment increases and expansion into new markets, particularly in China, Japan, and EMEA [1][2]. Group 1: Company Overview - Kin Yat is the largest supplier to IROBOT, accounting for 70% of its shipments, with IROBOT contributing approximately 50% to Kin Yat's total revenue in the first half of 2018 [1]. - The company has a long-term OEM relationship with IROBOT, which has been established for over 10 years [1]. Group 2: Growth Drivers - Shipment growth is expected to be strong compared to 2.9 million units in FY16, with China being a major growth driver following the opening of a sales office in 3Q16 [2]. - IROBOT plans to launch a new lawn mower product in 2018, which is anticipated to further drive growth for Kin Yat as it co-develops the product [2]. - Kin Yat's Shenzhen plant has a production capacity of 2.5 million units, with a new plant in Guizhou expected to add 2.4 million units of capacity [2]. Group 3: Micro-Motor Segment - The micro-motor segment grew by 20% in the first half of 2018, primarily due to new client orders in the automotive sector, which accounts for 30% of micro-motor sales [3]. - Key clients in the automotive segment include Hyundai, Kia, Subaru, Mitsubishi, and BMW [3]. - Management aims to increase production capacity from 850,000 units per day to 2 million units per day by 2020, anticipating further margin expansion [3]. Group 4: Land Valuation - The company owns three pieces of land in Guangdong province, with the Shenzhen land valued at over RMB 2 billion and the Shaoguan land valued at RMB 75 million [4]. - There are plans to potentially move the plant to Guizhou to free up land for sale in the medium term [4]. - The Shixing land, covering 300 mu, is likely to be co-developed with property developers in the future [4]. Group 5: Valuation and Dividend Policy - Kin Yat is currently trading at a valuation of 5.8x FY18 PE and 4x FY19 PE, which is considered undemanding [5]. - The company has a 30% payout dividend policy, yielding about 5%, with future growth expected from increased micro-motor capacity and IROBOT product sales [5]. - Any potential land sales could provide opportunities for special dividends [5].

内中环间 镶嵌容积率仅约0.7的低密宝地 周边 是3000户过亿邻居构筑资产结界 三期瑄廷 纯法式合院产品 承上启下 精准占位 慢工出细活 拉升价值曲线 产品的灵魂 藏于绿篱庭院间 在过目不忘的罗密欧阳台 更在细节之处的弧线哲学 未来 成东郊乃至浦东的 高端社交与生活中心 在上海 与土地和远见同行 当下的上海楼市，正经历一场"选择疲劳"。大平层不断拔高，却难免千楼一面；风貌别墅握着历史，却常常让渡私密与尺度。买房人在看似繁多的选项中 辗转，却恰恰忽略——你拥有的，不仅仅是建筑本身，更是它之下的土地。 如果在这个节点，要我推荐一个选择——它应不囿于千篇一律，而是土地占有扎实、产品力持续攀升、且背后操盘手格局清晰的那个。 比如，即将启动认购的汤臣君品·瑄廷。 如对该项目感兴趣 请点击小程序预约看房 01 安全垫的基石 看懂土地占有与圈层密度 我们常说买房看地段，但地段的本质是什么？老法师看门道，一看土地指标，二看人的密度——特指高净值人群的密度。 能读懂土地的人，才能真正读懂价值。正如《繁花》那句"唯土地与明日同在。"东郊这片土地上，有个真实的案例：崔克明从华亭路起身，后来在东郊碧 云缔造"东郊壹号"。他的故事， ...