JINJIA(SZ:002191)2022-11-23 06:56Group 1: Company Strategy and Growth - The company aims to capitalize on the rapid growth of new tobacco products, positioning itself as a comprehensive manufacturer and service provider for electronic vapor devices and heated non-combustible products, achieving a revenue growth of 129.05% in the first three quarters of 2020 [2] - The company plans to continue deepening its involvement in the new tobacco industry, enhancing its R&D and production capabilities, and providing professional ODM/OEM services [2][3] - The introduction of new investors and the acquisition of shares in Longwu Technology are strategic moves to strengthen partnerships and enhance product offerings in the overseas market [3][4] Group 2: Market and Regulatory Environment - In the U.S., the FDA requires electronic cigarette companies to submit PMTA applications by a specified date, leading to increased industry regulation and concentration [5][6] - The domestic market for HNB products remains restricted, with no clear regulations for vapor-type electronic cigarettes, impacting the company's sales strategies [6] - The company is adopting a cautious approach in the new tobacco sector, focusing on R&D and production services in response to market demands [6] Group 3: Financial Performance and Challenges - The company’s new tobacco segment is expected to maintain high growth rates, with projections for continued revenue increases in 2020 despite challenges posed by the pandemic [2][5] - The tobacco industry showed stable growth in 2020, although the company faced some impacts on its market share due to the pandemic [7] - The company has a strong cost control experience and stable supplier relationships, which help mitigate the impact of rising raw material prices on production costs [9][10] Group 4: Product Development and Innovation - The company is enhancing its packaging capabilities through technological upgrades and automation, leading to steady growth in the production and profit margins of its color box segment [8] - Collaboration with well-known liquor brands and exploration of new packaging solutions are part of the company's strategy to expand its market share in the packaging industry [8][9] - The company is committed to integrating innovative technologies such as IoT and blockchain into its packaging solutions to increase added value [8]