Sayyas Windows(SZ:301227)2023-08-22 18:06Company Overview - Harbin Senying Window Industry Co., Ltd. was established in 1999 and specializes in the research, design, production, and sales of customized energy-saving aluminum-clad wooden windows [2]. - As of June 30, 2023, the company has a registered capital of 94.8 million yuan, total assets of approximately 2.2 billion yuan, and employs 1,617 staff [2]. - The company holds 123 new patents, with 94 authorized patents, including 27 invention patents and 2 design patents [2]. Production Capacity and Achievements - The annual production capacity is approximately 600,000 square meters [3]. - From 2017 to 2019, the company ranked first in production scale and market sales volume among domestic peers in the aluminum-clad wooden window sector [3]. - The company has established three production bases and two office headquarters, covering a total area of about 500 acres and a building area of approximately 170,000 square meters [2]. Environmental Commitment - The company actively practices the "zero carbon, environmental protection" concept in production and office settings [2]. - The Double City headquarters office building is part of a national key R&D plan for nearly zero-energy public buildings [2]. - The company has been recognized for its passive building products, with 21 products certified by the German PHI [3]. Financial Performance - The net cash flow from operating activities for 2019, 2020, and 2021 was 147.50 million yuan, 144.37 million yuan, and 219.95 million yuan, respectively [4]. - In 2022, the net cash flow from operating activities was approximately -26.50 million yuan due to external environmental impacts [4]. - For the first half of 2023, the net cash flow from operating activities was 107.60 million yuan, a 697.86% increase compared to the same period last year [4]. Sales and Marketing Strategy - The company has established a national sales service network and is focused on expanding its dealer network [5]. - The company employs a multi-level dealer system and has implemented a "1+N" model to optimize dealer performance [6]. - Various promotional activities, such as "Senyuan VIP service" and "brand experience officer," are used to enhance brand recognition and customer loyalty [6]. Risk Management - The company has a comprehensive risk control mechanism for accounts receivable, particularly for large-scale business sales [5]. - Payment terms are structured with multiple milestones to mitigate risks associated with large clients [5]. - The company maintains a cautious approach to bad debt provisions, with 100% provision for accounts receivable over three years old [5].