VTR(SZ:300381)2025-12-24 12:08Group 1: Company Overview and Financial Performance - The company, Guangdong Yiduoli Biotechnology Co., Ltd., has registered products in over 30 countries and regions globally, with subsidiaries in Germany, Australia, and a representative office in Russia, and is in the process of establishing a subsidiary in Brazil, expected to be completed in the first half of next year [1][2]. - The company's gross profit margin has consistently remained above 40%, while the net profit margin is only around 3%, primarily due to increased R&D and financial expenses [4]. - Capital expenditures have increased due to the upgrade of the R&D center and the establishment of new production bases, with significant projects currently under construction [4]. Group 2: Market Strategy and Challenges - The company is developing targeted strategies to mitigate potential negative impacts from U.S.-China trade tensions, including collaborating with traders and establishing local brands [2]. - The sales proportion in the U.S. market is currently small, indicating that related policies are unlikely to significantly affect the company's operations [2]. Group 3: Product Development and Sales - The company currently engages in NMN business as a raw material OEM for clients [3]. - The newly launched hydrogen peroxide enzyme product is used in the cleaning process of electronic products, with sales and gross margins improving compared to the previous year, although its overall revenue contribution remains small [5].