Financial Performance - The company achieved a revenue of 1.2 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 60.82% [2] - Gross margin stood at 35.01%, showing stability despite rising procurement costs and increased tariffs, offset by optimized shipping costs [2] - Net profit was 2.09 billion yuan, a slight decline of 2.72% year-on-year, primarily due to minor increases in sales, management, and financial expenses [2] Regional Revenue Breakdown - In Q3 2025, revenue from the European market was approximately 0.9 billion yuan, reflecting a year-on-year growth of 13.75% [2] - The North American market experienced a revenue decline of 18.8%, attributed to tariff issues and supply shortages from Southeast Asia [2][3] Supply Chain and Cost Management - Southeast Asia has lower tariff costs compared to domestic levels, although overall procurement costs are slightly higher [3] - The company plans to optimize its supply chain further as volumes increase, with some low-margin products being phased out [3] Product Strategy and Market Positioning - The company has adjusted its product strategy to focus on large items, leveraging local delivery advantages in Europe [4] - Series products have shown better sales performance, with higher attachment and repurchase rates compared to non-series products [4] Organizational Changes and Future Growth - The company has optimized its organizational structure and shifted performance assessments from "goal-based" to "incremental" evaluations to incentivize growth [4] - Future growth in the European market is expected to come from product optimization and the introduction of new product categories [4] U.S. Market Outlook - The U.S. market's profitability is anticipated to improve with the launch of home furniture products sourced from Southeast Asia, supported by ongoing logistics optimization [4]
致欧科技(301376) - 2025年10月29日投资者关系活动记录表