深圳华强(000062) - 2023年5月31日投资者关系活动记录表

Group 1: Industry Overview - The electronic components industry is currently in a destocking phase, with a decline in overall procurement demand [1] - In Q2 2023, some downstream manufacturers began to increase orders in preparation for the "618 Shopping Festival," indicating potential recovery in consumer demand [1] - The signs of increased orders suggest that the destocking cycle may be nearing its end, with a possible rebound in industry sentiment in Q3 2023 [1] Group 2: Business Model of Huaqiang Electronics Network Group - The core of Huaqiang Electronics Network Group's business model is digital capability, enhancing supply chain efficiency through extensive data connections established over nearly 20 years [2] - The company focuses on providing services rather than selling products, effectively meeting customer needs without maintaining significant inventory [2] Group 3: Risk Management Strategies - The company emphasizes risk control in accounts receivable, inventory, interest rates, and exchange rates [2] - Accounts receivable are at a reasonable level, with a robust risk management system in place for credit assessments and dynamic tracking [2] - Inventory levels are adjusted based on market predictions, with proactive measures taken to reduce stock before the current destocking phase [2] - Interest rate management is conducted through maintaining a favorable loan structure and reducing USD loans while increasing low-cost RMB loans [3] - Exchange rate risks are mitigated through pricing strategies and hedging tools to manage foreign exchange exposure [3] Group 4: Profitability of Internet Business - The electronic components internet business has a high gross margin, driven by solving long-tail procurement challenges and maintaining low operational costs [4] - Huaqiang Electronics Network Group's global procurement services effectively address pain points in long-tail procurement, leading to improved customer efficiency and reduced costs [4] - The company has maintained a gross margin above 90% in recent years due to its established competitive advantages and efficient service delivery [4] Group 5: Product Line and Market Strategy - The company ranks among the top in the industry for the number of product lines in authorized distribution, with a balanced layout of domestic and international products [4] - Future strategies include optimizing product line distribution and enhancing partnerships with internationally recognized brands while promoting high-quality domestic brands [4]