Joyoung(SZ:002242)2022-12-07 09:26Product Structure - The company offers a variety of products including soy milk machines, cooking machines, juicers, and commercial machines in the bean product category [2] - Electrical products include induction cookers, rice cookers, electric kettles, and pressure cookers [2] - Western appliances consist of ovens, yogurt makers, and egg cookers, while major kitchen products include range hoods, stoves, water heaters, and water purifiers [2] Water Purifier Insights - The company has previously experimented with a rental model for water purifiers, with 80-90% of users opting to purchase after initial free use [2] - There is a significant lack of awareness regarding water purification in the industry, which the company aims to address through R&D and product preparation [2] - Distribution channels for water purifiers are increasingly overlapping with small home appliances, with offline retailers like Suning and Gome now featuring dedicated water purification sections [2] Market Trends and Challenges - The company does not plan to undergo any transformation [2] - There has been a decline in sales of nutrition cookers and induction cookers, attributed to labor migration trends and the impact of rural biogas projects on electricity consumption [2] - The pressure cooker market has transitioned past its rapid growth phase [2] Competitive Landscape - The current competitive environment is relatively stable, with no price wars reported [3] - Despite a growth in third-quarter performance, profits have not increased significantly due to substantial tax impacts [3] - The company does not manufacture hardware components; these are supplied by vendors, with the company focusing on assembly [3] Product Development - The company has not yet launched large-scale commercial promotions for its Onecup product, which is currently sold primarily online [3] - New flavors for the Onecup product are continuously being developed [3]