RUNNER(SH:603408)2024-04-29 09:31Group 1: Financial Performance - The company's revenue in Q1 2024 increased by 43% year-on-year, primarily driven by significant growth in hardware products [2] - The recovery in the overseas market, which had been in a destocking phase last year, contributed to the notable revenue increase in Q1 2024 [2] - The company has achieved new progress in expanding its customer base in the North American and European markets, including partnerships with well-known local brands and retailers [2] Group 2: Product Differentiation - The company has over five years of experience in the leading hardware product segment, focusing on team capability building, technical accumulation, and product reserves [2] - Key differentiators in the leading products include the integration of plastic and hardware technologies, as well as the accumulation of electric control sensing technology [2] Group 3: Raw Material Procurement Strategy - The company adopts a strategic procurement approach based on order requirements, locking prices with suppliers according to expected price fluctuations [3] - A framework agreement with customers stipulates shared responsibilities when raw material or exchange rate price fluctuations exceed agreed limits [3] Group 4: Capacity Expansion - The second phase of the factory in Thailand was completed in February 2024, with ongoing construction of various production lines, including those for dental products, water purification products, and faucet products [4] - The full production line is expected to be operational by early next year, with logistics and digital systems being implemented to enhance factory efficiency [4]