双箭股份(002381) - 2017年5月22日投资者关系活动记录表

Group 1: Financial Performance and Challenges - The company plans to shift from a heavy asset model to a light asset model in the nursing home sector to turn losses into profits after selling idle properties [2][3] - The nursing home in Tongxiang and Jiyi has seen an increase in occupancy from an average of 100 to around 200 residents, contributing to revenue growth [6] - The company’s capacity in Yunnan is expected to reach 6,000 tons this year, up from 2,000 tons at the time of acquisition [4] Group 2: Market Opportunities and Strategic Initiatives - The Belt and Road Initiative presents opportunities for the company, particularly through a technical cooperation project with Uzbekistan, which involves no financial investment from the company [3] - The company is focused on strengthening its main business while expanding into the elderly care industry, aiming to maintain its leading position in the domestic market [5] Group 3: Cost Control and Competitive Landscape - The company employs spot purchasing for natural rubber and locks prices with traders during large orders to stabilize costs [3] - Approximately 25% of small and micro enterprises in the conveyor belt industry have exited the market, indicating a challenging environment [4] - The company faces competition from three major international competitors: Continental Group from Germany, Fenner Group from the UK, and Bridgestone from Japan [4] Group 4: Pricing and Payment Terms - The average transportation cost for conveyor belts is about 320 yuan per ton, which can exceed 1,000 yuan per ton for remote areas [4] - For engineering clients, the company typically requires a 30% prepayment, with 90% due upon acceptance and the remaining 10% within 1.5 years [7] Group 5: Future Plans and Investments - The company has no immediate plans for capital operations but is exploring potential acquisitions in the elderly care sector, with good targets priced around 300 million yuan for facilities with 1,500 beds [8] - The company is not currently considering a shift to the tire industry, despite many firms transitioning from conveyor belts to tires [7]