XINGYE TECH.(002674)2022-11-17 14:20Group 1: Company Overview - The company operates in the leather industry, focusing on shoe upper leather and automotive leather products [3][4] - The company has adopted a divisional structure to enhance responsiveness to market demands, with larger divisions handling standard products and smaller divisions focusing on customized products [3] Group 2: Market Position and Clientele - Major clients for the automotive leather segment include NIO, Li Auto, and Geely, indicating a strong foothold in the new energy vehicle market [3][4] - The company has established a competitive advantage through early positioning in the new energy vehicle sector, leading to faster service and development response times compared to foreign competitors [3] Group 3: Sales and Revenue - In 2021, the company's external sales accounted for 12.92% of its total revenue, showcasing significant market penetration [3] - The company leverages its large procurement volume to negotiate favorable terms with suppliers, enhancing its cost structure [3] Group 4: Future Outlook - The demand for automotive interior leather is expected to grow in line with the rapid increase in new energy vehicle sales, prompting the company to scale production capacity accordingly [4] - The company plans to utilize synergies in production capacity and raw material resources to support rapid expansion in response to market needs [4]