DFDR(SZ:300217)2022-12-03 09:48Group 1: Business Segments Overview - The company operates in three main business segments: residential electric heaters, industrial electric heaters, and optical communication materials and lithium battery shell materials [3][4]. - Residential electric heaters account for 60% to 70% of sales in this segment, with strong growth observed in air conditioning electric heaters [3][4]. - Sales of electric heaters for new energy vehicles are rapidly increasing, primarily used in air conditioning and heating systems [4][5]. Group 2: Sales Performance and Projections - The company has established a strategic partnership with major clients like Gree, Midea, and Haier, leading to a solid foundation for achieving annual sales targets [3][4]. - The subsidiary in Shaoxing has reached a monthly sales volume of 7 million CNY, with expectations to grow to 10 million CNY by year-end [4]. - The industrial electric heater segment has seen a significant increase in orders, particularly in the oil and gas sector due to rising oil prices [5][6]. Group 3: Technological Advancements and Market Position - The company has made breakthroughs in electric heater technology for engine testing, aiming to expand its market presence in this area [5][6]. - Jiangsu Jiutian aims to diversify its product structure and enhance its production capabilities to avoid market risks [6][7]. - The company is focusing on improving production processes and reducing costs to enhance competitiveness in the lithium battery shell materials market [9][10]. Group 4: Financial Performance and Challenges - The inventory turnover rate has been increasing due to strategic factory placements near major clients and improved internal management [9][10]. - The decline in gross profit margin last year was attributed to rising raw material prices and customer demands for lower procurement prices [10][11]. - The company anticipates improvements in gross profit margins this year following price adjustments with major clients [10][11].