Joyoung(SZ:002242)2024-09-27 09:31Group 1: Company Performance - The company achieved positive growth in the food processing machine category despite a 17.5% decline in the blender industry, driven by the introduction of variable frequency blenders [2] - The variable frequency quiet blender features a brushless motor that significantly reduces noise, addressing consumer pain points and stimulating demand [2] - The soy milk machine also experienced growth, particularly in the small-capacity segment [2] Group 2: Market Strategy - The company has focused on essential product categories, especially rice cookers, and aims to break through in a mature market by leveraging differentiated competitive advantages [3] - The company plans to enhance product technology iterations and strengthen consumer education to achieve better growth [3] - The company maintains a balanced development strategy across essential, optional, and emerging product categories, aiming to solidify its leadership in kitchen appliances [3] Group 3: Sales Channels - Traditional e-commerce still occupies a significant share of online channels, with the company optimizing product details, traffic investment, and visual design to improve conversion rates [3] - Sales through content e-commerce have shown continuous growth, outperforming industry performance, while the price index for kitchen small appliances is also better than the industry average [3] - The proportion of direct sales in the company's online business continues to increase [3] Group 4: Profitability - The improvement in domestic gross profit is primarily due to an increase in direct sales and the successful launch of new products, contributing positively to gross profit [3] - The company continues to implement cost-reduction and efficiency-enhancing measures, which also positively impact gross profit [3]