Vanward(SZ:002543)2025-05-14 11:36Group 1: Overseas Market Expansion - The company is actively expanding its overseas market, with production bases established in Thailand and Egypt. The first phase of the Thailand factory commenced production in April 2024, and the second phase is currently in trial production as of April 2025. [2] - The total investment in the Thailand production base will increase from RMB 353 million to RMB 604 million, with an additional investment of RMB 251 million aimed at expanding production capacity and facilities. [2] - The Egyptian factory has begun small-scale trial production, with plans to accelerate mass production to increase overseas output. [2] Group 2: Product Export and Tariff Impact - The company's exports primarily target Europe, the United States, and Southeast Asia, with products including gas ovens and dehydrators. Tariff costs are borne by customers under the FOB trade model. [2] - Despite uncertainties in current tariff policies, the impact on the company is manageable, and several strategies are in place to mitigate potential challenges. [3] Group 3: Strategies for Profit Stability - The company focuses on short-term, mid-term, and long-term strategies to maintain profit stability and sustainability, including efficiency improvements, cost control, and cash flow management. [3] - Short-term measures involve optimizing internal processes and reducing unnecessary expenses, while mid-term strategies emphasize operational innovation and industry upgrades. [3] - Long-term goals include increasing R&D investment and building a robust technology innovation system to enhance product competitiveness. [3] Group 4: Product Performance and Market Adaptation - The company has maintained the top position in offline sales of gas water heaters for 21 consecutive years and ranks among the top in wall-hung boilers in the domestic market. [4] - In response to market changes, the company is committed to product innovation and channel transformation to meet diverse customer needs. [4] Group 5: Dividend Policy and Financial Health - The company has distributed approximately RMB 3.14 billion in cash dividends to shareholders and maintains a healthy balance sheet with ample cash flow. [4] - Any adjustments to the dividend policy will be carefully evaluated based on various factors, including R&D investments and market expansion opportunities. [4]