Lianluo Interactive(SZ:002280)2022-12-06 07:24Group 1: Company Overview - Liaison Interactive integrates various companies along the industry chain to enhance resources in channels, marketing, and R&D, focusing on e-commerce, media, and smart hardware businesses [2] - The company aims to explore business upgrades based on three main sectors: Liaison E-commerce, Liaison Media, and Liaison Smart [2] Group 2: Business Segments - Liaison E-commerce: Focuses on NEWEGG platform for cross-border e-commerce, with financial services as auxiliary and industry integration [2] - Liaison Media: Positioned in the media sector, combining film, gaming, live streaming, and advertising for comprehensive revenue [2] - Liaison Smart: Concentrates on smart hardware through investment and incubation, primarily in smart medical, wearable devices, and smart home products [2] Group 3: Strategic Insights - The management strategy for NEWEGG emphasizes leveraging existing teams for operational efficiency, supported by technology and capital [2] - Future cross-border e-commerce will not use the NEWEGG brand to avoid confusion, aiming for a full category of products [3] - The company recognizes the growing market for smart hardware and has invested in core technologies and marketing channels since 2015 [3] Group 4: Financial Considerations - E-commerce is not purely profit-driven; it focuses on market share and channel advantages, with valuation based on GMV and revenue [3] - The smart hardware segment is in the investment phase, with expected profitability growth as product variety increases [4] - The media segment is expected to maintain sustainable profitability, contributing positively to overall company valuation [4]