Enpack(SZ:002846)2022-12-05 02:16Group 1: Market Share and Product Segmentation - The beverage cap business accounts for approximately 20%-30% of the company's revenue, with a shift from three-piece cans to two-piece cans in the customer structure [2] - The proportion of two-piece can customers slightly exceeds that of three-piece can customers, with two-piece can beverage caps making up about 50%-60% of the beverage cap market [3] Group 2: Competitive Advantages - Domestic supply chain advantages include access to raw materials like tinplate and aluminum, with the largest steel producers in China providing better pricing, quality, and logistics compared to overseas suppliers [3] - The company has invested in new production equipment in the last five years, giving it a competitive edge over foreign counterparts that may have equipment over 20-30 years old [3] - The pricing of domestic metal easy-open caps is approximately 20%-30% lower than that of foreign competitors [3] Group 3: Future Plans and Strategies - The company plans to continue focusing on the metal packaging sector, while also being open to potential acquisitions in niche packaging markets if good opportunities arise [4] - Since 2017, the company has rapidly expanded its scale through both external acquisitions and organic growth strategies, and it will continue to monitor opportunities in various segments [4]