Yongguan New Material(SH:603681)2024-11-08 08:28Group 1: Business Overview - The company has developed a series of automotive adhesive and protective solutions, including car wrap films, color change films, and heat insulation films, which are sold through online and offline channels, including 4S groups and exports [2] - The company achieved IATF16949 automotive product system certification for its car film products in the second half of this year, enhancing collaboration opportunities with OEMs [2] - The company's export ratio is approximately 70% [2] Group 2: Financial Performance - The total number of common stock shareholders as of September 30, 2024, is 13,051 [3] - The company plans to distribute cash dividends amounting to no less than 90% of the average distributable profit over the last three years from 2024 to 2026, under specific conditions [4] - The company has faced challenges in maintaining stock prices despite continuous revenue growth, influenced by macroeconomic conditions, industry competition, and investor expectations [4] Group 3: Cost and Expense Management - Increased sales and R&D expenses are attributed to the company's efforts to incubate new business divisions and explore new fields in response to macroeconomic challenges [2] - The company has implemented strategies for currency risk management, including high-point settlement and short-term rolling hedging, to mitigate the impact of currency fluctuations [3] Group 4: Market Position and Strategy - The company is focusing on integrating resources across its automotive tape and industrial tape divisions to explore new growth opportunities [5] - The company aims to improve its overall gross margin by expanding its market share and meeting customer needs, despite facing increased competition in the consumer market [6]