GTC(SZ:000589)2023-03-08 10:28Production Capacity and Expansion Plans - The company currently has a total design capacity of 900,000 units, including 120,000 units from the Vietnam factory [2] - The domestic factories are actively promoting the "Annual Production of 380,000 Steel Radial Tires Intelligent Manufacturing Project" and the "Annual Production of 950,000 High-Performance Steel Radial Tires Project" in Vietnam [2] - There are two remaining project sites in the domestic factories, while the third phase of the Vietnam factory has not yet undergone product planning [2] Market Conditions and Financial Performance - The utilization rate and gross margin of the all-steel radial tire products have declined due to intensified competition, weak demand, and rising costs [3] - The gross margin of the all-steel engineering radial tire products remains high, indicating a competitive advantage in this product line [3] - The decision to change fundraising projects was made after considering the company's development plans and future benefits [3] Export Markets and Sales Strategies - The company's products are primarily exported to the United States, Europe, Australia, Brazil, India, Southeast Asia, and the Middle East [3] - Sales in overseas markets are mainly conducted through distributors, with plans to increase regional sales companies and localize employees to expand sales volume [3] Product Range and Raw Material Procurement - The company offers over 3,000 varieties of products, including solid tires, which are used in various industrial vehicles and construction machinery [3] - Natural rubber is sourced from both domestic and international suppliers, including countries like Thailand, Malaysia, Vietnam, and Africa, with strategies in place to mitigate price fluctuations [3]