Yuma Technology(SZ:300993)2025-11-24 08:30Group 1: Overseas Expansion and Production Capacity - The company has initiated overseas capacity planning, starting with preliminary research in Southeast Asia since 2024, including the establishment of a subsidiary in Singapore [2] - The construction of a production base in Vietnam is currently on hold due to changes in U.S. tariff policies, with plans to proceed once the policies are clarified [3] Group 2: North American Operations - The company is implementing a localization strategy in North America, having established subsidiaries in California and Texas to serve local markets [4] - The U.S. subsidiaries focus on processing manufacturers, brand clients, and channel partners, using the "Yuma" brand for sales [4] Group 3: Impact of Tariff Policies - Recent changes in tariff policies have caused temporary disruptions in orders from the U.S., but adjustments have led to renewed focus on supply chain stability and product quality [5] - The company has not seen a significant impact on customer cooperation due to its enhanced local operations and service [5] Group 4: Product Pricing and Profit Margins - The company's products typically have significant markup after processing and branding, with customized products offering even higher profit margins [6] - The focus is on product differentiation and technical services to enhance value rather than relying solely on price competition [6] Group 5: Sales Performance of Dream Curtain Product - The Dream Curtain product has experienced a phase of market adjustment after rapid growth, with domestic sales declining but international sales increasing [8] - The product maintains a competitive edge due to its multifunctionality, and the company is increasing export efforts to tap into new growth opportunities [8] Group 6: Market Share and Future Growth Drivers - The company currently holds a low market share in key global markets, indicating significant potential for growth [9] - Future growth is expected to be driven by new high-performance materials, improved sales channel layouts, operational efficiency, and flexible production capacity [9]