Group 1: Company Performance and Outlook - The company has a diverse customer base, leading to varying revenue growth rates among clients, which supports stable order shares despite some clients experiencing slower growth [2] - The company is confident in its performance over the next two years, attributing this to the continuous expansion of new clients and deepening cooperation with existing ones [2] - The company expects stable gross margins as long as there are no significant fluctuations in orders [3] Group 2: Order Visibility and Production Capacity - Clients communicate forecast orders with the company before each season, placing formal orders once or twice a month [2] - The company has a total expected production capacity of 50-60 million pairs per year from its two factories in Indonesia, which are gradually being built and put into operation [3] - The company plans to establish several new factories in Indonesia and Vietnam over the next 3-5 years to meet customer demand [3] Group 3: Financials and Capital Expenditure - The company’s capital expenditure over the past three years has been approximately 1.1-1.7 billion RMB annually, with expectations to maintain this level in the coming years [3] - Cash dividends accounted for about 89% of net profit in 2021, 43% in 2022, and approximately 44% in 2023, reflecting the company's commitment to shareholder returns [3] - As the company scales, the proportion of capital expenditure to net profit is expected to gradually decrease while maximizing dividends [4] Group 4: Market Position and Competitive Landscape - The company operates in a stable market with a diverse product range, primarily focusing on running and outdoor sports shoes, as well as fashion leisure shoes [4] - The sports shoe market is expected to continue expanding due to consumer demand for comfort and health, with the company maintaining a competitive edge through its comprehensive manufacturing capabilities [4] - Despite challenges in 2023, the company has maintained stable revenue, indicating a growing market share [4]
华利集团(300979) - 华利集团投资者关系管理信息