Elegant(603221)2024-02-19 07:38Group 1: Impact of U.S. Customs and Production Layout - The U.S. customs traceability has a positive impact on the company's operations, benefiting from HMTX and HD's business [2] - The company has established a factory in the U.S. to diversify production capacity due to ongoing U.S. tariffs and trade tensions, indicating a long-term trend towards regional supply chain development [2][3] - The U.S. factory's efficiency is several times higher than domestic factories, helping to mitigate high local labor costs, leading to an optimistic long-term outlook for operations [3] Group 2: Mexico Factory Capacity Planning - The lease agreement for the Mexico factory was signed in early December 2023, with a ten-year term, and construction is currently underway [3] - The Mexico factory is expected to be capable of receiving orders by the end of 2024 or early 2025, depending on construction progress [3] - The production capacity in Mexico will prioritize existing customers in the North American market, with an optimistic outlook for order saturation due to increasing supply chain security concerns [3] Group 3: E-commerce and Live Streaming Business - The company currently has no plans to engage in overseas e-commerce live streaming business [3]