QI AUTOMOTIVE CO.(BJ:837242)2024-06-24 11:31Group 1: Investor Relations Activities - The company participated in a broker strategy meeting on June 21, 2024, at the Ritz-Carlton Hotel in Shanghai, with various securities firms and investment entities attending [2][3]. Group 2: Business Development and Market Trends - The company has over 20 clients engaged in cross-border e-commerce, benefiting from a unique operational model that aligns with online sales logic [3]. - In 2023, sales to online clients (including cross-border e-commerce) accounted for over 30% of the company's total revenue [3]. - The U.S. automotive parts online sales have surpassed 20% of total sales, with predictions suggesting it could reach 50% in the future [3]. Group 3: Shipping and Cost Management - The company operates on an FOB (Free on Board) basis, meaning that rising shipping costs have not directly impacted its expenses [4]. Group 4: Product Development and Market Entry - The company is actively promoting automotive electronic products into the original equipment manufacturer (OEM) market, having established a dedicated project team [5]. - The company’s subsidiary obtained the IATF 16949:2016 certification, a mandatory requirement for automotive quality management [5]. - The company plans to enter the OEM market as a secondary supplier initially, focusing on R&D and testing of automotive electronic products [5]. Group 5: Financial Performance and Shareholder Returns - In Q1 2024, the company reported revenue of 142 million yuan, a year-on-year increase of 29.47%, and a net profit of 12.48 million yuan, up 32.81% [9]. - The company distributed a cash dividend of 3.5 yuan per 10 shares in the previous year and is committed to reasonable profit distribution based on strategic planning and operational conditions [6]. Group 6: New Product Launches - The company develops approximately 2,000 to 3,000 new SKUs annually, with new products accounting for about 20% of sales each year [7][8]. - New products span various categories, including automotive electronics and systems for different vehicle types [8].