YAOJI TECHNOLOGY(SZ:002605)2022-12-08 08:41Group 1: Investor Reception Overview - Reception Date: December 29, 2014 [1] - Location: Company Conference Room [1] - Participants: Company General Manager, Secretary, Chairman of Solomon, and authorized representatives from various investment institutions [1] Group 2: Market Insights - China is a major bicycle manufacturing country, with a total production of 60.13 million bicycles in 2013 [2] - The domestic cycling population is approximately 20 million, with a CAGR of about 50% [2] - The bicycle market is experiencing a shift towards mid-to-high-end products due to changing consumer demands [2] Group 3: Solomon Company Profile - Solomon, established in 2008, specializes in mid-to-high-end bicycles, producing over 300,000 units annually [3] - The company has a complete industry chain including R&D, production, sales, and e-commerce [3] - Solomon's core competitiveness includes e-commerce, with nearly 20 online specialty stores [4] Group 4: Industry Trends - E-commerce accounts for approximately 10% of the bicycle industry, with total sales reaching 7.3 billion yuan [4] - The average selling price of Solomon's bicycles is estimated at around 1,500 yuan, indicating a trend towards high-end products [4] - Solomon has begun developing smart bicycles, aligning with future industry trends [4][5] Group 5: Future Development Plans - Following the acquisition of Solomon, the company aims to leverage the growth of the domestic sports industry and consumer health demands [5] - The strategy includes transitioning from manufacturing to smart and internet-connected services, utilizing O2O models [5] - Solomon plans to rapidly expand its scale and capitalize on the opportunities in the smart bicycle market [5]