Core Viewpoint - YESMRO Holdings Limited (referred to as "易买工品") is positioned as the leading supplier in China's digital FA factory automation component procurement service market, with a market share of 8.5% based on 2024 revenue projections [6]. Group 1: Company Overview - Established in 2016, 易买工品 focuses on the digital transformation of a traditionally fragmented and inefficient offline trading industry, initially targeting small clients to build an instant supply chain for FA factory automation components [3]. - The company has developed strong supply chain integration, research and development, and inventory management capabilities, leveraging digital technology to enhance procurement efficiency for automation equipment manufacturers [5]. Group 2: Supply Chain and Operational Efficiency - 易买工品's supply chain network includes approximately 2,500 suppliers and over 800 brands, featuring global leaders, which provides a significant competitive advantage in meeting urgent project timelines [5]. - The company achieved over 81.3% in stock availability and 96.5% in on-time delivery rates during the first three quarters of 2023, 2024, and 2025, both of which are industry-leading benchmarks [7]. - Inventory turnover days for the first three quarters of 2023, 2024, and 2025 were 17, 13, and 14 days, respectively, indicating effective working capital management while maintaining high inventory availability [7]. Group 3: Customer Base and Retention - 易买工品 has served over 24,000 automation equipment manufacturers across various industries, including automotive, consumer electronics, logistics, and pharmaceuticals [8]. - The number of paying users increased from 14,723 in 2023 to 15,990 in 2024, with a year-on-year growth of 17.4% to 16,396 in the first three quarters of 2025, indicating deepening integration of its services into customer operations [8]. Group 4: Product Offering and Brand Development - The company has developed a proprietary digital operating system called "宪章大脑," integrating advanced AI technology with operational data to enhance decision-making across various management functions [7]. - As of September 30, 2025, 易买工品's proprietary brand product portfolio includes over 837,000 stock-keeping units across seven categories, with revenue contribution from proprietary brands increasing from 3.3% in 2023 to 5.2% in the first three quarters of 2025 [10]. Group 5: Financial Performance - 易买工品 reported revenues of 534 million yuan and 637 million yuan for 2023 and 2024, respectively, reflecting a year-on-year growth of 19.2% [11]. - The company plans to use the net proceeds from its IPO to develop proprietary brands, enhance market position, accelerate global expansion, and upgrade its automated warehousing network [11].