ZHONGYEDA(SZ:002441)2022-11-21 15:42Group 1: Company Overview and Financial Performance - The company achieved a revenue of 9.264 billion CNY in the first three quarters of 2021, representing a year-on-year increase of 1.08 billion CNY, or 18.52% [1] - The net profit attributable to shareholders reached 319 million CNY, with a year-on-year growth of 21.17% [1] - In Q3 2021, the company reported a revenue of 3.330 billion CNY, with a net profit of 137 million CNY, reflecting a growth of 3.71% [1] Group 2: Core Competitiveness - The company's core competitiveness is summarized as a "3+1" network, which includes distribution network, logistics network, technical service network, and integration with the internet [2] - The distribution network consists of 55 subsidiaries and over 100 offices across major cities, aiming to expand into lower-tier cities and new product lines [2] - The logistics network includes 8 major logistics centers and 50 distribution warehouses, enhancing delivery efficiency [2] Group 3: Business Development and Strategic Initiatives - The company acquired Suzhou Laiyifen Logistics Co., Ltd. to strengthen its logistics capabilities in response to business growth [3] - The "Zhongye Da Mall" platform generated approximately 5.284 billion CNY in sales in the first three quarters of 2021, marking a year-on-year increase of 43.24% [3] - The company has sold over 50 charging stations and operates 4, covering more than ten cities nationwide [4] Group 4: Inventory and Cash Flow Management - The company maintains a large inventory due to its distribution model, which requires purchasing products from suppliers before selling them [4] - The negative cash flow from operating activities is attributed to increased sales scale and longer customer settlement cycles, leading to higher accounts receivable [4] Group 5: Future Strategic Planning - The company aims to enhance its logistics network and expand its product offerings in response to market trends and business opportunities [4]