瑞尔特(002790) - 2018年9月6日投资者关系活动记录表

Market Overview - The smart bathroom industry is experiencing diverse development trends, including smart and artistic innovations. The penetration rate of smart toilets in Japan is approximately 70%-80%, in South Korea around 50%, and in Taiwan about 25%. In contrast, the penetration rate in mainland China is only about 1% [3] - The market for smart toilets in China has an estimated ownership of 5-6 million units, with the highest penetration rate in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen being around 10% [3] Company Performance - In the first half of 2018, the company achieved operating revenue of 435.94 million yuan, a slight increase of 1.01% compared to the previous year. However, the total profit decreased by 27.90% to 68.39 million yuan, and net profit fell by 29.72% to 57.47 million yuan [4] - The decline in performance is primarily attributed to rising raw material costs and increased labor expenses [4] Risks and Challenges - The company faces significant risks from fluctuations in raw material prices, particularly engineering plastics, which account for over 30% of production costs. These materials are influenced by market supply and demand as well as the prices of oil and coal [5] - Labor cost increases pose another risk, as the company has seen a consistent rise in employee compensation from 2012 to 2017. If labor costs continue to rise, it may impact profitability [6] Strategic Development - The company plans to invest in two wholly-owned subsidiaries focused on the research, production, and sales of smart bathroom products, with a registered capital of 100 million yuan [3] - Future strategies include enhancing R&D and production capabilities, expanding market share globally, and solidifying partnerships with renowned bathroom brands [7] - The company aims to become a leader in the water-saving bathroom fittings industry by focusing on innovative and smart product development [7] Compliance and Communication - The company adheres to regulations regarding investor relations and has ensured no significant undisclosed information was leaked during investor meetings [8]