Ninestar(SZ:002180)2022-12-06 09:48Group 1: Company Overview - Zhuhai Aipake Technology Co., Ltd. is a leading manufacturer of printer consumables and chip design, production, and sales [2][3] - The company has a strong patent advantage, which serves as a barrier to entry in the highly monopolized printer industry [3][4] - Over 70% of the company's sales revenue comes from overseas markets [5] Group 2: Recent Developments - In 2015, the company completed the acquisition of the American company SCC, enhancing its asset portfolio [3][4] - The company has also acquired Hong Kong Shengdi and gained control of Hangzhou Shuotian Technology [4] - The acquisition of Lexmark, a well-known global printer manufacturer, is expected to enhance market share and core competitiveness [5][6] Group 3: Management and Team - The management team consists of the founding members, known for their loyalty and extensive industry experience [4][5] - The team has a proven track record in capital operations and is capable of leveraging the capital market for growth [4] Group 4: Financial Aspects - The financial cost of the recent acquisitions is supported by loans, with a current funding cost of 6.9% [7] - The company is optimizing its financing structure to reduce costs [7] Group 5: Market Strategy - The company aims to increase its market share in China, where Lexmark currently has a low market presence [7] - Future strategies include providing more convenient and cost-effective printing services to create value for consumers [6]