TonyShare(BJ:839167)2022-11-17 12:00Group 1: Company Overview - The company received 9 institutional investors for a research meeting on November 16, 2022 [2] - The meeting was held in the company's conference room [2] Group 2: Product Performance - As of the end of Q3, SMBB welding strip shipments accounted for approximately 13% of total shipments, expected to rise to around 40% next year [3] - The ratio of interconnection welding strips to busbar welding strips is maintained at 2:8 [4] - The company holds approximately 40% market share with Jinko and 20% with Longi [6] Group 3: Market Conditions - The company's market share is about 16%, with competitors like Yubang having a higher share [7] - The fluctuation in copper prices, which constitute over 90% of product costs, directly impacts the company's gross margin [5] - The company experienced a decline in Q3 performance due to inventory from before a significant drop in copper prices [5] Group 4: Customer Dynamics - Customers typically provide a rough demand estimate about one month in advance, with pricing cycles being dynamic, usually ranging from 1 week to 1 month [6] - The company expects a growth of over 30% in downstream customers next year, with its shipment growth anticipated to slightly exceed this [9]