Zhejiang Meida(SZ:002677)2022-12-08 08:20Group 1: Market and Sales Structure - Sales in tier 3 and tier 4 cities account for approximately 80%, primarily through specialty store channels [3] - The average terminal price ranges from over 6,000 to 10,000, with some flexibility allowed for distributors based on regional differences [3] - The company has a strategy to first establish a presence in tier 3 and tier 4 cities before moving to tier 1 and tier 2 cities, which has proven effective [3] Group 2: Industry Overview and Competition - The integrated stove industry is valued at over 30 billion, with the company holding a one-third market share [4] - In the short to medium term, there are no significant threats from competitors in the integrated stove sector; however, traditional kitchen appliance manufacturers may pose a long-term risk [4] - The market share of integrated stoves in the overall kitchen appliance industry has been gradually increasing each year [4] Group 3: Production and Distribution - The company operates on a sales-based production model, implementing a prepayment system with distributors [5] - There are over 2,000 sales terminals and nearly 1,000 first-level distributors, with plans to encourage more store openings in tier 2 and tier 3 cities [5] Group 4: Future Plans and Innovations - The company has established online stores on platforms like Tmall, JD.com, and Suning, with plans to increase investment in online marketing [5] - Future potential directions for transformation include new energy, environmental protection, high-end equipment manufacturing related to the main business, and healthcare [5]