Intretech(SZ:002925)2022-12-04 09:04Group 1: Company Overview and Market Position - Xiamen Yingqu Technology Co., Ltd. has over 90% of its revenue from overseas, with approximately 44% of its revenue coming from exports to the U.S. [1][2] - The company has a strong focus on customized products and has established a good reputation and brand advantage in the industry [3][4] Group 2: Impact of U.S.-China Trade Relations - The company's products have been included in the U.S. tariff list, potentially increasing customer procurement costs and final product prices [2] - To mitigate the impact, the company is rapidly deploying production plans for affected products in its Malaysian subsidiary [2] Group 3: Financial Performance - The net cash flow from operating activities for Q3 2019 was negative due to increased material costs and delayed receivables [2] - The overall gross margin increased in Q3 compared to the first half of the year due to changes in the sales mix of products [5][6] Group 4: Strategic Development and Innovation - The company has been investing in its Malaysian subsidiary to enhance its smart manufacturing capabilities [2] - Future development plans are guided by strategic consultations with IBM, focusing on optimizing resources and strategic execution [4][6] Group 5: Customer Relations and Product Development - The company emphasizes a customer-driven approach to develop new markets and products, maintaining long-term relationships with clients [3][4] - The company has been actively involved in the development of electronic cigarette components since 2014, focusing on precision plastic parts [6] Group 6: Recent Acquisitions - In September 2019, the company acquired a 56% stake in Shanghai Kaiming Intelligent Technology Co., Ltd. for 19.6 million RMB, enhancing its capabilities in electronic manufacturing systems [6] - The company also acquired a 51% stake in Shanghai Aiming Automotive Control Systems Co., Ltd. for 3.621 million RMB, which aligns with its automotive electronics business [6]