安利股份(300218) - 2023年12月7日投资者关系活动记录表（一）

Group 1: Revenue and Market Performance - In 2023, the company experienced a decline in functional shoe material revenue due to ongoing inventory reduction by domestic and international sports brands, but it has improved its market share with existing clients and is gradually increasing the volume of new TPU products [1] - The combined revenue from functional shoe materials and sofa home products accounts for approximately 80% of total revenue, with both categories showing signs of recovery [1] - The company expects sofa home product revenue to return to normal levels or even grow in the coming year after a rebound in the second half of 2023 [2] Group 2: TPU Product Development - TPU is identified as a new growth driver for the company, with its revenue share in functional shoe materials increasing compared to the previous year [1] - The company has begun mass production of TPU products in June 2023, with ongoing collaborations with brands like Anta and 361, and is in the early stages of partnerships with Nike and Puma [2] - The market for TPU products is expected to expand, with the company aiming to increase its share in this segment [2] Group 3: Strategic Partnerships and Future Outlook - The company is actively working on partnerships with Nike, with expectations of significant revenue growth in the coming years due to a low current base and high growth potential [2] - The company has established a strong presence in the domestic sports leisure market and is expanding its international client base, including brands like PUMA and ASICS [2] - Future growth is anticipated in emerging categories such as automotive interiors, electronics, and engineering decoration, which currently account for about 20% of total revenue [3] Group 4: Cost Management and Production Capacity - The company’s cost structure is significantly affected by natural gas prices, which have remained high compared to pre-war levels [5] - Current production capacity is aligned with order demand, and the company is exploring opportunities for capacity expansion to support future growth [5] - The company is focused on optimizing its production structure and enhancing its operational efficiency to achieve better economic and ecological benefits [5]