MYS(SZ:002303)2025-12-03 09:28Group 1: Overseas Business Overview - The main overseas clients of the company are in the consumer electronics, furniture, and home appliance industries [2] - The company has six factories in Vietnam, Thailand, Malaysia, and Mexico, with additional capacity available for expansion based on market demand [2] - The expansion of overseas capacity is primarily achieved through leasing factories and reallocating existing domestic equipment, keeping capital expenditures manageable [3] Group 2: Competitive Landscape and Profitability - The competitive landscape for overseas business is currently stable, with the company benefiting from early market entry and advantages in product R&D, service, and multi-regional layout [3] - The company aims to maintain its profit margins next year by focusing on higher-value clients and reducing low-margin orders, with overall profitability expected to improve due to growth in overseas business [3] Group 3: Risk Management Strategies - The company negotiates product prices with clients during significant fluctuations in raw material costs and considers these factors in new pricing [3] - Currency fluctuations impact the company's foreign exchange gains and losses, and the company is exploring risk hedging strategies to mitigate these effects [3] Group 4: Financial Obligations and Shareholder Returns - The major shareholder has reached a settlement with Zhejiang Commercial Bank regarding a financial dispute, with all payments due in 2025 already made and 2026 payments on track [4] - The company emphasizes cash dividends as a key method of returning value to shareholders and plans to disclose a minimum dividend ratio based on operational and financial conditions [4]