R&T(SZ:002790)2023-09-22 11:22Company Overview - Established in 1999, the company aims to be a global leader in bathroom space and home water system solutions [1] - Products are distributed in over 80 countries, contributing significantly to global water conservation [1] Product Solutions - Offers a comprehensive range of solutions including water-saving flushing systems, smart toilets, and integrated bathroom solutions [3] - Recognized as a high-tech enterprise with over 1,700 valid patents [3] Smart Toilet Advantages - Strong R&D, manufacturing, and quality control systems provide a competitive edge [3] - Smart toilets have received multiple awards for quality, including the "Boiling Cup" quality gold award [3] Sales and Service Model - Utilizes a dual-channel sales model: distributors and engineering projects [4] - Implements a "service to home" principle with a 24-hour response time for installation and maintenance [4] Market Insights - As of December 2022, the market penetration of smart toilets in China is approximately 5% [4] - In major cities like Shanghai and Beijing, penetration rates exceed 5-10%, while lower-tier cities remain largely untapped [4] - The domestic sales revenue for smart toilets in 2022 was approximately 17.7 billion yuan, with sales volume around 7.8 million units [4] Raw Material Cost Control - Maintains strong relationships with suppliers to manage raw material costs through long-term contracts and bulk purchasing [4] R&D Investment - R&D expenses are consistently increasing, accounting for 4-5% of annual revenue [5]