Group 1: Company Overview - The company, Hefei Hengxin Life Technology Co., Ltd., has a sales revenue from the U.S. market accounting for approximately 10% of its total sales revenue [1] - The company has established a factory in Thailand to primarily serve the U.S. market orders [1][2] - The company is one of the early domestic players in the R&D, production, and sales of PLA biodegradable dining utensils, with rich technical reserves and production experience [2][3] Group 2: Production and Capacity - The Thailand factory entered normal production in April 2025 and is currently in a rapid capacity ramp-up phase [2] - The fixed cost allocation and efficiency fluctuations during the short-term capacity ramp-up may impact the gross profit margin [2] - The company plans to fully promote the production operations of the Thailand production base throughout 2025 [2] Group 3: Market Position and Competition - The company possesses competitive advantages due to its full-process production capability, a combination of paper and plastic products, a rich variety of products, and strong customer resources [2][3] - The market is expected to mature gradually, leading to an increase in industry concentration, although the overall market size is also expected to grow [3] Group 4: Customer Structure and Procurement - The company's end customers are primarily in the sectors of freshly ground coffee, new-style tea drinks, fast food, and supermarkets [3] - Initially, the Thailand factory will rely mainly on domestic procurement, transitioning to local or international procurement in the future [3]
恒鑫生活(301501) - 301501恒鑫生活投资者关系管理信息20250606