Ligao Foods (300973)2024-06-18 10:31Group 1: Company Overview - The company is called Lihigh Food Co., Ltd. with stock code 300973 and bond code 123179 [1][2]. Group 2: Investor Relations Activities - The investor relations activity took place on June 18, 2024, at the factory located in Foshan, Sanshui District [2]. - The meeting included various types of interactions such as site visits and analyst meetings [2]. Group 3: Key Discussion Points - Impact of Market Changes: The expansion of leading pastry shops and contraction of smaller ones has minimal impact on the company, as larger clients are supplied directly [2][3]. - R&D Center in Japan: The Japanese R&D center is small and focuses on key technology introduction and application research, with domestic R&D being prioritized [2][3]. - Capital Expenditure Plans: Future capital expenditures will focus on projects related to IPO and convertible bond fundraising, with self-funding plans based on cash flow [3]. - Production Capacity: The company is currently maximizing production capacity at the Henan factory, with no significant overflow of orders reported [3]. - Raw Material Costs: Domestic milk price fluctuations are not expected to significantly impact the cost of cream products, as many raw materials are imported [3]. - Product Upgrades: Continuous upgrades to traditional products, such as tart crusts, are essential to meet consumer demand for higher quality [3]. - Export Strategy: The company has established a subsidiary in the U.S. for overseas sales and is exploring overseas investment opportunities, but has no current plans to build factories abroad [3].