KinLong(SZ:002791)2023-06-08 12:16Group 1: Financial Performance - The company's Q1 2023 revenue reached 1.354 billion CNY, representing a year-on-year growth of 4.83% [2] - Net profit attributable to the parent company was -56 million CNY, with a year-on-year increase of 37.33% [2] - Gross profit margin improved to 30.13%, up by 1.3% compared to the previous year [2] Group 2: Overseas Market Development - The overseas market experienced a growth rate of approximately 30% in Q1 2023, primarily driven by Southeast Asia [3] - The company has established several sales subsidiaries in Southeast Asia, contributing positively to overall performance [3] - Localized staffing and efficient inventory management have enhanced customer delivery response times in overseas markets [3] Group 3: Raw Material Prices and Profit Margins - Raw material prices have decreased this year, particularly for zinc alloys and stainless steel, which have seen significant declines [3] - The reduction in raw material costs is expected to positively impact the industry and improve profit margins [3] Group 4: Sales Team and Market Competition - The company reduced its domestic sales personnel by nearly 300 in Q1 2023, while making slight increases in overseas regions due to faster growth [3] - The competition in the market remains intense, but some companies have exited, leading to a new balance among remaining players [4] Group 5: Future Outlook and Product Expansion - The company maintains a positive outlook on market recovery and future development, citing ongoing demand in various regions of China [4] - Plans for new product categories focus on enhancing existing products and creating synergies with current customers [4]