Group 1: Investor Relations Activities - The investor relations activity was conducted on November 27, 2025, with participation from various financial institutions and analysts [2] - The meeting was held online via Tencent Meeting and offline in Zhongshan [2] Group 2: Impact of Tariff Policies - The increase in U.S. import tariffs will raise costs for customers exporting to the U.S., but will not affect exports to non-U.S. regions [2] - Historically, tariffs have been borne by brand customers (importers), ultimately passed on to consumers [2] - The company is focused on cost optimization across the supply chain in response to tariff impacts [2] Group 3: Factory Operations and Profitability - The first factory in Indonesia achieved profitability in Q3 2025, with management confident in its future performance [2][3] - The company is adjusting management practices to leverage Indonesia's advantages in labor supply and cost [2][3] - The company has three out of four new factories achieving profitability targets in Q3 2025 [3][5] Group 4: Capacity Utilization and Planning - The company maintains flexible capacity utilization, adjusting based on order demand and factory stages [4] - Future capacity expansion is planned, with a focus on new factories in Indonesia [5] - The company aims to keep capacity utilization high by managing production schedules and workforce [4][5] Group 5: Average Selling Price and Revenue - Average selling price fluctuations are influenced by customer and product mix changes [6] - The company employs a diversified brand strategy to optimize customer and product structures, impacting average selling prices [6] Group 6: Dividend Policy - The company has a strong focus on shareholder returns, with cash dividends in 2021 accounting for approximately 89% of net profit [7] - In 2023, cash dividends represented about 44% of net profit, with a projected 70% for 2024 [7] - The company has accumulated significant undistributed profits (approximately 9 billion RMB as of September 2025) and aims to maintain or increase dividend payouts [7]
华利集团(300979) - 300979华利集团投资者关系管理信息20251127