HXPP(SZ:002228)2022-12-08 09:24Group 1: Company Strategy and Market Position - The company enhances customer retention through national layout and R&D advantages, which previously led to a slowdown in profit growth due to high initial costs [1] - The company currently competes with two foreign companies in the corrugated box packaging sector, namely International Paper and YFY [2] - The packaging industry has a large market capacity, resulting in minimal direct competition, primarily among regional leaders [2] Group 2: Production and Operational Efficiency - New factories need to achieve a capacity utilization rate of approximately 50% to break even [3] - The company has become the main supplier of outer packaging boxes for Xiaomi smartphones, with business volume expected to increase alongside Xiaomi's shipment growth [3] - The concept of "standardized factories" involves integrating advanced industrial engineering principles and automation to reduce management costs and enhance scalability [2] Group 3: Investment and Acquisition Strategy - The primary purpose of the company's industrial acquisition fund is to amplify investment capabilities and secure more acquisition targets, thereby increasing market share and brand influence [3] - The fund aims to standardize the acquisition process to mitigate risks and protect shareholder interests [3] - Future acquisitions may be conducted through cash or equity, depending on the specific circumstances of the target [3] Group 4: Future Growth and Revenue Sources - Future revenue growth will primarily come from increasing sales to existing customers and exploring new potential clients [4] - The company plans to establish new locations based on customer needs and its operational capabilities [4]