Group 1: Customer Revenue Contribution - The top five customers accounted for 31%, 29%, 17%, 12%, and 6% of the total annual sales in 2022 [1] - The main products supplied to the largest customer include ice skates and sports goods, while the second largest customer receives children's furniture [1] Group 2: Order Trends and Market Conditions - The fourth quarter of 2022 was identified as a low point for performance due to external market conditions, but orders are expected to improve significantly starting in Q4 2023 [1][2] - The company anticipates that strategic adjustments by major clients towards larger suppliers will enhance performance starting next year [2] Group 3: Production Flexibility and Capacity Utilization - The company achieved an average capacity utilization rate of approximately 97% from 2019 to 2021, with full-load production in 2021 [2] - The company’s production planning capabilities allow for real-time adjustments to accommodate diverse, small-batch, and customized products [2] Group 4: Profitability and Cost Management - The company’s delivery method primarily uses FOB, resulting in low shipping cost impact on profit margins despite fluctuations in sea freight prices [2] - The company maintains stable procurement costs through a diverse product range and established price linkage mechanisms with clients [2] Group 5: Customer Dependency and Growth Strategy - Approximately 90% of annual sales come from the top four customers, indicating a high dependency on major clients [3] - The company plans to expand its product categories by enhancing its dual-process capabilities and focusing on ODM and JDM models to deepen customer relationships [3]
通达创智(001368) - 通达创智调研活动信息