ConST(SZ:300445)2022-11-21 15:38Company Overview - The company is Beijing Const Instrument Technology Co., Ltd., with stock code 300445 and abbreviation 康斯特 [1] - The company specializes in pressure detection products and has a strong brand presence globally [2][3] Market Position and Product Development - The company has achieved a cumulative sales revenue of over 180 million for its 811 series products, which have been recognized in the market for over 10 years [3] - The temperature detection products have an annual growth rate of approximately 5%, with a sales target of 70 million for the current year [3] - The MEMS sensor project is progressing smoothly, with chip samples meeting expectations after two testing cycles [4] Financial Performance and Costs - The company's sales expenses exceed 20% due to high marketing costs associated with global conference marketing and participation in industry events [4] - In 2020, the company faced a tariff impact of 171,000 USD due to a 25% tariff increase, affecting gross margin by approximately 3-4 percentage points [4] - The company's operating costs increased by 24.71 million USD in the first three quarters of 2021, with raw material costs accounting for 14% of this increase [4] Strategic Initiatives - The company aims to expand its SaaS platform, which is positioned as an ERP system for instruments, targeting various industries including scientific research and testing [4][6] - The company plans to enhance its product offerings in the electrical measurement sector, focusing on breakthroughs in direct current standard sources and meters [6] Competitive Landscape - The domestic pressure transmitter market is valued at approximately 3.2 billion USD, with a growth rate of 10% annually, while the global market is estimated to be around 20 billion USD [7] - The company’s pricing strategy aims to target 80-90% of the domestic pricing of leading competitors [7] Future Outlook - The company anticipates that 2022 will be a turning point for performance recovery, with a projected reduction in related costs [5] - The company is exploring potential acquisitions or establishing subsidiaries in Europe to enhance its international market presence [6][7]