ZHONGYEDA(SZ:002441)2024-11-06 09:22Group 1: Company Overview - Zhongyeda is the largest industrial electrical distribution service enterprise in China, focusing on low and medium voltage electrical and industrial automation product distribution, system integration, and complete product manufacturing, providing one-stop industrial electrical product services and solutions [1] - The company has a nationwide sales network with 54 subsidiaries and 120 offices, and has established an online platform, Zhongyeda Mall, to enhance operational efficiency [1] - It operates 7 major logistics centers and has a comprehensive industrial technology service network, offering pre-sales technical support, industry solutions, installation, training, and after-sales services [1] Group 2: Financial Performance - The company's profit has declined this year due to market conditions and high inventory levels, leading to an imbalance in supply and demand and increased competition, resulting in price drops for some products [2] - The procurement ratio for the company is 76.41%, with domestic and foreign brands having different advantages in price, quality, and safety performance [3] Group 3: Customer and Market Dynamics - The downstream distribution of industrial electrical products is extensive, applied in various sectors including power, communication, manufacturing, municipal, new energy, automation, electronics, rail transportation, and infrastructure [2] - The company focuses on eight key industries this year: photovoltaic and energy storage, environmental water treatment, steel and metallurgy, automotive and parts, logistics and packaging, rail transportation and highways, power batteries and electronic devices, and food and tobacco [2] - The customer base is primarily B-end, including manufacturers, integrators, secondary distributors, and engineering installation companies, with a diverse range of clients including traders and design companies [2] Group 4: Pricing and Supplier Relations - Product pricing is determined based on supplier guidance, procurement costs, and market conditions, with foreign brands generally priced higher [3] - The company signs distribution agreements with suppliers annually, receiving sales discounts based on procurement performance and market expansion [3] Group 5: Online and Offline Operations - The company employs an online and offline collaborative operational model, with the online mall serving as an electronic entry point for customers, significantly improving staff efficiency [3] Group 6: International Expansion - The company plans to increase capital in its wholly-owned subsidiary in Singapore, aiming to expand its electrical automation distribution business in Southeast Asia, with an initial capital injection of 2.1 million Singapore dollars already completed [4]