YOTRIO(SZ:002489)2022-12-08 09:28Group 1: Financial Goals and Performance - The company aims to achieve a target of 280 million [1] - Profitability is uncertain due to various impacts, including the recovery in Europe and the US, which may lead to significant order growth in the next business year [1] Group 2: Production and Supply Chain - The production cycle takes approximately 20 days, with raw material procurement taking around 10 days, and shipping adding another 20 days, leading to a total of about two months from order to delivery [1] - The company is exploring global logistics procurement and currently testing in Europe, providing warehousing services for clients [1] Group 3: Sales and Distribution - The proportion of sales to distributors has decreased from 20%-30% to approximately 10% [1] - About 30% of production is outsourced, with the company maintaining its own brand [3] Group 4: Quality Control and Customer Relations - There are annual claims from customers due to quality issues and delayed deliveries, which can result in penalties and product returns [2] - The company conducts third-party inspections before shipping, with a typical product development cycle from design to market taking about 1.5 to 2 years [2] Group 5: Research and Development - New product revenue accounts for around 30%, with over 300 domestic R&D personnel [2] - Continuous updates in product design are necessary to meet market demands [2] Group 6: Market Strategy and Expansion - The company plans to enter the domestic market starting with balcony furniture, gradually expanding to living and dining room products [3] - Flagship stores are being considered for better product display, with the first store likely opening in Ningbo next year [3] Group 7: Management and Organizational Structure - The chairman and his brothers have distinct roles: strategic direction and external investments, internal management, and market focus on Europe and the US [3] - The company is considering stock incentives but has not made a final decision [3] Group 8: Pricing and Profit Margins - Price increases for existing products are challenging, with reliance on new product launches for revenue growth [3] - Differences in gross margins between Europe and the US are attributed to product variations and after-sales service differences [3]