SEAGULL(SZ:002084)2025-06-05 08:02Group 1: Company Overview - The company focuses on industrialized interior decoration, with a core emphasis on prefabricated kitchen and bathroom solutions, aiming to become a leading provider of components and services in this sector [1] - Main products include high-end sanitary ware, ceramics, bathtubs, shower rooms, bathroom cabinets, integrated cabinets, and tiles, along with smart home solutions [1] Group 2: Development of Vietnam Factory - The Vietnam factory is a key part of the company's "Belt and Road" initiative and ASEAN market strategy, enhancing its full-category manufacturing capabilities [2] - The factory aims to improve overall quality systems and increase modularization of purchased and self-manufactured parts, thereby boosting production scale [2] - Certifications obtained include SA8000 for social responsibility, ISO17025 for laboratory management, and IAPMO for laboratory standards [2] Group 3: Impact of US-China Trade War - Exports to the US account for approximately 30% of the company's total revenue, making it vulnerable to trade tensions [3] - The company established a faucet production base in Vietnam in 2019 to mitigate risks from ongoing trade disputes, with shipments starting in 2022 [3] - Strategies include maintaining close communication with clients, exploring European and other overseas markets, and adapting business strategies based on trade developments [3]