KORRUN(SZ:300577)2022-12-04 09:54Group 1: Company Overview and Response to COVID-19 - The pandemic has impacted the industry but has also accelerated the elimination of outdated production capacity and increased industry concentration [3] - The company has implemented effective measures such as deepening online channel cooperation, expanding product categories, adding protective equipment business, and enhancing cost efficiency to maintain steady development throughout the year [3] Group 2: Competitive Advantages and Client Service - The company has extensive experience serving global clients, enabling efficient communication with clients' dispersed functional departments worldwide [3] - Compared to other global bag product companies, the company possesses large-scale production bases and specialized design capabilities, allowing for quick sample design and flexible order production [3] Group 3: Client Acquisition and Expansion Strategy - In the OEM business, the company has established competitive barriers in areas such as factory automation, lean management, production efficiency, delivery time, service quality, and global operations, accumulating a stable client base [4] - Future growth will focus on deepening cooperation with existing high-quality clients while leveraging competitive advantages to expand new client resources [4] Group 4: Brand Development Post-Pandemic - Following the pandemic, the company adjusted its brand-building strategies in response to market conditions, focusing on higher conversion rates and better return on investment without blindly increasing expenditures [4] Group 5: Production Capacity Utilization - The company has responded quickly to the pandemic, resulting in a steady increase in production capacity utilization [4] Group 6: Potential of New Major Clients - The company has recently expanded its client base by partnering with VF Corporation, which includes well-known brands such as Kipling, North Face, and Vans, indicating significant procurement potential in the bag category [4]