南模生物(688265) - 南模生物投资者关系活动记录表2024-010

Group 1: Business Overview - The overall industry and downstream customer demand have not shown significant recovery, with the company's revenue for the first three quarters remaining stable compared to the same period last year [2] - Orders began to show slight growth from the second quarter, but this has not yet fully reflected in revenue [2] - Internationally, demand recovery and revenue growth are faster, but the impact on overall revenue is limited due to a small base [2] Group 2: Financial Management - The company maintains a strict bad debt provision policy: 5% for accounts receivable within 1 year, 20% for 1-2 years, 50% for 2-3 years, and full provision for over 3 years [3] - The proportion of accounts receivable to revenue is normal, and overall collection pressure is not significant [3] Group 3: Pricing and Market Competition - The overall pricing environment remains stable, with increased sensitivity to price due to the lack of demand recovery in the industry [3] - The company differentiates itself in the market by offering unique models based on proprietary mouse strains, although competition from larger CROs may lead to price reductions [3] Group 4: Expansion and Investment - The company has added "non-residential real estate leasing" to its business scope to meet customer needs for laboratory and office space, which is expected to increase revenue [3] - The total investment for the future development of the facility on Amber Road is estimated to be no more than 400 million [4] Group 5: Production Capacity - The company has a total production capacity of approximately 140,000 cages across nine bases in China, with an overall utilization rate close to 80% [5] - There is still room for adjustment in production capacity, and the company is taking measures to further improve utilization [5] Group 6: Market Position - In the field of genetically modified animal models, the domestic market is primarily occupied by four companies, including the company itself, with each having its own characteristics [5]