JIANGSU TONGRUN(SZ:002150)2022-12-08 05:30Group 1: Main Business Operations - The company's main business includes four segments: metal tool cabinets, precision sheet metal products, high and low voltage switchgear, and high and low voltage electrical components [2] - The company has four subsidiaries: Changshu General Electric Factory (high and low voltage switchgear), Changshu Tongrun Switch Factory (electrical components), Tongrun Tool Cabinet Co., Ltd. (metal tool cabinets), and Changshu Tongrun Tianlang Import and Export Co., Ltd. [2] Group 2: Subsidiary Performance - The subsidiaries are operating normally, with stable orders at the electrical factory, which typically has a production and delivery cycle of over six months and a payment recovery period of about 1.5 years [2] - Tongrun Switch Factory has a smaller sales proportion but has shown annual growth, while Tianlang Machinery is a key focus for development, targeting the agricultural machinery market [2] Group 3: Financial and Market Outlook - The company does not have immediate financing needs and aims for transformation and upgrading through internal reforms and cost management [3][4] - The management expresses confidence in the company's performance despite the challenging economic environment, indicating that the stock price is currently undervalued [4] Group 4: Corporate Governance and Management Changes - The company is undergoing internal management reforms, including restructuring and resource integration, to enhance management efficiency [4] - No notifications have been received regarding shareholders or executives intending to reduce their holdings [4]