SOLEX(SH:603992)2024-12-06 09:35Group 1: Company Overview and Strategy - Xiamen Songlin Technology Co., Ltd. operates as a platform-oriented company focusing on "smart hardware products IDM (Innovation/Design/Manufacturing) sharing platform" strategy [3][4] - The company emphasizes shared models, technology sharing, and manufacturing sharing, aiming to create a platform that integrates diverse innovative technologies and excellent products [3][4] - Main business categories include kitchen and bathroom health products, beauty health products, and emerging smart health products, targeting consumer demands for health and high-quality living [3][4] Group 2: Business Model and Market Position - The IDM model is an upgrade from traditional OEM/ODM models, focusing on independent product planning, creative design, and technology research [4] - The company holds independent intellectual property rights, including invention patents and design patents, enhancing its market position through innovation [4] - Current product categories include kitchen and bathroom products (e.g., showerheads, faucets), beauty health products (e.g., beauty showerheads), and emerging smart health products, which are expected to grow significantly next year [4][5] Group 3: Organizational Structure and Risk Management - The company adopts a multi-category division management model, with each category managed independently [5] - To address potential risks from tariffs and U.S. interest rate changes, the company is closely monitoring U.S. tariff policies and maintaining communication with clients [5] - A new production base in Vietnam is under construction to mitigate potential tariff risks, with plans for production to commence in the second half of next year [6] Group 4: Financial Strategies and Currency Management - The company employs a cautious hedging strategy for foreign exchange, focusing on short-term operations with relatively small amounts involved [5] - The overall scale of hedging operations remains moderate due to the stable performance of the RMB exchange rate [5]