LXBY(SZ:002884)2022-11-22 03:01Group 1: Company Overview - The main business of Guangdong Lingxiao Pump Industry Co., Ltd. includes the research, design, production, and sales of civilian centrifugal pumps, with key products being plastic bathroom pumps, stainless steel pumps, clean water pumps, submersible pumps, and pipeline pumps [3] - The company is one of the largest suppliers of water sports and bathroom pumps in China, providing a complete service system that integrates design, production, sales, and after-sales service [3] Group 2: Sales and Market Performance - The sales model primarily consists of direct sales and distribution, with direct sales accounting for approximately 60% to 70% of total sales [4] - Export sales represent about 44% of total sales, predominantly through direct sales channels [4] - In 2020, the sales of plastic bathroom pumps increased by 43.73% due to positive impacts from the pandemic, and in the first quarter of 2021, overall sales grew by 77% [4] Group 3: Product Development and Market Strategy - The company plans to extend its product line into niche markets such as seawater pumps and chemical pumps, leveraging the advantages of plastic's corrosion resistance and stability over cast iron [5] - The company aims to continuously develop and produce market-oriented products, ensuring high quality and competitiveness [5] Group 4: Customer Base and Order Trends - Currently, orders from existing customers are more prevalent, but there is also growth in new customer orders, particularly for plastic bathroom pumps due to increased overseas demand [5] - The company’s products, such as plastic bathroom pumps, have competitive advantages in market share, scale, and cost-effectiveness, leading to higher customer recognition [5]