Focus Tech.(SZ:002315)2022-12-06 02:54Group 1: Business Overview - The company operates in four main business areas: traditional foreign trade B2B e-commerce platform (Made-in-China.com), insurance services, domestic B2B procurement platform, and educational products [1]. - The transition of Made-in-China.com is aimed at evolving from a simple information matching service to a comprehensive cross-border service platform, with plans to establish an online trading platform [1]. - The company is applying to set up an online property insurance company, but the approval process is currently slow [1]. Group 2: Cross-Border Services - The company has established warehouses in the U.S. to facilitate direct transactions between Chinese suppliers and U.S. buyers, allowing for local shipping [3]. - Payment processing challenges have been addressed by relocating the trading platform to the U.S., significantly reducing transaction costs and improving efficiency [3]. - The platform will also offer additional services such as tax declaration assistance in the future [3]. Group 3: Shareholder and Employee Incentives - The major shareholder's reduction in holdings was primarily due to the implementation of a stock appreciation rights plan initiated in 2014, which allowed employees to benefit from stock value increases [3]. - The company has introduced an employee stock ownership plan to align the interests of shareholders, the company, and employees, although it has not yet been implemented due to transitional business challenges [4]. - The previous stock appreciation rights plan was not sustainable, while the employee stock ownership plan is designed to be sustainable [4].