og the first Barry lege t 20 21 2017 and and the AS 7 0 f 近日，在郑州金水区某汽修一条街，道路两侧数十家店铺中超半数已关门停业，多家尚在营业的门店也贴出"转让"告示，店门口"洗车25元"的字样早已 斑驳不清。无独有偶，这一幕也出现在广东佛山的汽修一条街上，关停的门店比比皆是。不少业内人士坦言，今年汽修行业面临严峻挑战，大量门店的业绩 出现断崖式下滑，提质增效成为全行业必须直面的课题。 汽配店的客户多是汽修厂，汽修厂最关心的是配件是否是正品。因此，汽配店做视频营销的不二主题，应该是突出产品质量有保证。比如，拍摄真假配件对 比视频，效果就非常好。"我们原来采用传统地推的方式宣传，结果收效甚微。现在通过视频号传播，一来可以塑造人设，二来更容易让当地的客户看 到。"他强调，"要注意视频内容大于形式，不用做得花里胡哨，重点突出自己卖的是正品就可以。"另外，视频输出的内容一定要体现出真诚，要站在修理 厂的角度拍摄。同时，还要争取国际一线品牌的赋能。 汽修店的客户多为车主。有些车主比修理厂还懂车，会查询自己车辆适配的零部件、变速器油等，这些客户看重的是汽修店的品牌力 ...

Summary of Ningbo Huaxiang Conference Call Company Overview - **Company**: Ningbo Huaxiang - **Industry**: Automotive Parts Key Points Customer Structure and Performance - Significant adjustment in customer structure with nearly half of revenue coming from self-owned brands, reducing reliance on traditional high-end brands, enhancing performance stability [2][4] - Self-owned brand revenue grew from 6 billion RMB last year to an expected 14 billion RMB next year [2][5] - The company has shifted from high-end brands like Mercedes, BMW, Audi, and Volkswagen to a more balanced customer base, with no single customer exceeding 20% of revenue [4][20] Financial Performance and Future Outlook - The company expects quarterly profits to reach approximately 350 to 400 million RMB starting Q3 2025, following the divestment of European loss-making operations [2][7] - Projected profit for 2026 is around 1.6 billion RMB, with a current low valuation of about 9 times earnings [3][9] - Anticipated revenue for this year is between 28 billion to 30 billion RMB, with a profit margin improvement expected as domestic revenue increases [3][19] Business Expansion and Product Development - Actively expanding product categories, particularly in interior and exterior parts, with plans to enter seating and chassis components [2][6] - Recent fundraising plans aim to raise 2 to 3 billion RMB, with significant investments in factories and R&D for smart chassis technology and humanoid robots [28][29] Robotics Business Strategy - Strong strategic focus on robotics, including a partnership with Zhiyuan, taking over their Shanghai manufacturing facility [10][11] - New management incentives include allocating 30% of shares in the newly formed Huaxiang Robotics to management, aiming to attract specialized talent [12][13] - The company is positioned to leverage its existing technology in automotive parts for humanoid robot development, enhancing its competitive edge [17][18] Valuation and Market Position - Current valuation is low, with a P/E ratio of about 9, compared to over 20 for leading robotics companies, indicating significant upside potential [9][14] - Expected to reach a market cap close to 30 billion RMB if valuation normalizes [14][34] Profitability and Dividend Policy - Anticipated annual profit recovery to 1.5 to 1.6 billion RMB post-European business divestment, with a stable dividend policy of at least 20% of distributable profits [21][23] - The company has maintained a dividend payout ratio above 40% in recent years, reflecting strong cash flow [21][22] Global Operations and Market Dynamics - The company has a global footprint with operations in North America, Mexico, and Europe, gradually divesting from loss-making European operations [16][24] - North American operations are expected to turn profitable, contributing positively to overall performance [25] Long-term Goals - Long-term revenue target is approximately 40 billion RMB with net profit margins improving to around 7% [33][34] - The company aims to enhance its market position through strategic partnerships and product innovation in the robotics sector [30][32]