Leyard(SZ:300296)2022-12-08 08:14Group 1: Company Overview and Business Operations - Liard has developed LED small-pitch products since 2007, launching the world's first model in 2011 and has since undertaken hundreds of projects while continuously investing in R&D to meet market demands [3] - The company reported a revenue of 191.72 million CNY from small-pitch TVs in the first half of 2014, representing a 234.98% increase compared to the same period last year [2] - As of August 20, 2014, orders for LED small-pitch TVs reached 413 million CNY, achieving 82.6% of the annual order target [2] Group 2: Product Advantages and Market Strategy - LED small-pitch TVs offer numerous advantages including high brightness, energy efficiency, long lifespan, low maintenance costs, high refresh rates, flicker-free screens, wide viewing angles, and support for 3D and multi-window displays [2] - The cost of LED small-pitch TV components, particularly the LED chips, accounts for approximately 70% of the total cost, which is expected to decrease as chip prices decline [2] - The company plans to gradually introduce LED small-pitch TVs into the high-end consumer market in the fourth quarter of 2014 while continuing to develop new products to meet market needs [2] Group 3: International Market Performance - Revenue from overseas markets was approximately 59 million CNY in 2011, 85 million CNY in 2012, and reached around 200 million CNY in 2013, with overseas orders totaling 148 million CNY by June 30, 2014, marking an 85% increase year-on-year [3] - The company has established a basic overseas market structure, indicating rapid growth and promising future prospects [3] Group 4: Strategic Partnerships and Future Directions - In June 2014, Liard signed a strategic cooperation letter with Feisheng (Shanghai) Electronic Trading Co., which will exclusively procure from Liard for a certain international brand, enhancing market reach and brand recognition [4] - The company aims to pursue both organic growth and external acquisitions, focusing on finding investment and acquisition targets related to its "four-wheel business" strategy [4]