SOLEX(SH:603992)2024-04-08 07:38Group 1: Strategic Adjustments - The major strategic adjustment last year was the separation of the "Songlin Home" business from the listed system, completed in September 2023 [2] - The acquisition of the remaining minority stake in the subsidiary Beijiete was aimed at enhancing the company's smart toilet business and manufacturing capabilities [2] - The construction of a production base in Vietnam is part of the company's overseas expansion strategy [2] Group 2: Business Segments and Growth - The company is involved in three main business categories: kitchen and bathroom products, beauty and health products, and emerging smart health hardware [2] - Kitchen and bathroom products, including showers and smart toilets, are the primary revenue source [2] - Beauty and health products have seen rapid growth, becoming the second growth curve for the company [2] Group 3: Research and Development - The company invests approximately 6% of its revenue annually in R&D, emphasizing its importance for sustainable development [2] - Collaborations with universities and hospitals are established to transform research outcomes into practical products [3] - The company has achieved significant R&D results, including multiple patents and innovative products [3] Group 4: Market and Sales Performance - The expected order conversion cycle is around 12 months, primarily driven by projects developed last year [4] - The export business currently accounts for approximately 65% of total sales, with plans to deepen strategic partnerships globally [4] - The company aims to optimize market expansion strategies to meet diverse customer needs [4] Group 5: Future Development Plans - Future development will focus on the IDM hardware platform strategy, increasing investment in technology and production capabilities [5] - The company has set profit targets for the equity incentive plan, aiming for net profits of 470 million, 570 million, and 680 million from 2024 to 2026 [5] - The equity incentive plan is designed to enhance employee motivation and drive sustainable development [5]