MLS(SZ:002745)2022-12-06 08:38Group 1: Financial Performance - The company's profit decline in 2015 was not due to market shrinkage, as the market share steadily increased, but rather due to aggressive price competition in the lighting market [3] - The company's market share in 2015 improved, despite a decrease in profit, attributed to the relocation of the finished lamp production line, which temporarily affected production efficiency [3] - The LED industry experienced a decline in gross margin due to price wars, but it is expected to recover as weaker competitors exit the market [3] Group 2: Product and Market Strategy - Finished lamps theoretically have higher profit margins than lamp beads, but current profits from finished lamps are low due to the company's recent entry into this market and ongoing investments in sales channels and brand building [2][3] - The company invested approximately 100 million yuan in channel development in 2015, with expected gradual benefits [4] - The company aims to establish its own channels to maintain control over branding and market presence, rather than relying on existing channels that limit growth potential [4] Group 3: Risk Management and Cost Control - Systemic risks are primarily associated with emerging technologies, such as inverted chips, but the likelihood of occurrence is currently low [3] - The company demonstrates cost advantages through technological improvements and enhanced production efficiency, leveraging large-scale production to control costs and increase profits [4]