米奥会展20240604

Summary of the Conference Call on Miao Exhibition Company Company Overview - The conference call was held by Miao Exhibition Company, facilitated by Industrial Securities, focusing on the company's recent developments and future outlook. Key Points Discussed 1. Stock Incentive Plan - The company introduced a new stock incentive plan aimed at boosting employee morale and aligning their interests with the company's growth. The plan is designed to motivate core employees by allowing them to share in the company's success post-IPO [2][3][4]. 2. Employee Engagement - A total of 208 employees are included in this stock incentive plan, marking the highest number in the company's history. This reflects the company's commitment to ensuring that core employees benefit from the company's growth and success [4][5]. 3. Performance Metrics - The performance metrics for the stock incentive plan are based on two key indicators: revenue and profit. The revenue target is set for a compound annual growth rate (CAGR) of 25%, while the profit target is set for a CAGR of 20% [6][9]. 4. Current Market Challenges - The company acknowledged that sales in the first half of the year were slightly below expectations due to various factors, including a reduction in the number of exhibitions held. The number of exhibitions decreased from 18 last year to 9 this year, leading to a revenue decline of over 10% [18][19][20]. 5. Future Outlook - The company anticipates a stronger performance in the second half of the year, with expectations to complete around 19,000 exhibitions by year-end, driven by a focus on maximizing sales during peak months [22]. 6. Talent Acquisition Strategy - The company is actively recruiting industry professionals to enhance its talent pool, emphasizing the importance of skilled personnel in the service industry. Recent appointments include two new vice presidents with extensive experience in the exhibition sector [13][14][16]. 7. Competitive Landscape - The company is aware of increasing competition, particularly in Southeast Asia, and is strategizing to maintain its market position. The focus is on enhancing the quality of exhibitions and ensuring effective marketing strategies to attract participants [35][36][37]. 8. Investment in Growth - The company is committed to investing in its growth, even if it means incurring higher costs in the short term. This includes maintaining a robust team and ensuring high-quality exhibition experiences [26][27][28]. 9. International Expansion - Plans for international expansion are underway, with a focus on markets like Japan and Indonesia. The company aims to diversify its exhibition offerings and tap into new industry segments over the next few years [30][31]. 10. Long-term Vision - The company has a long-term vision for sustainable growth, aiming to adapt to market changes and continuously improve its service offerings to ensure competitiveness in the exhibition industry [31][40]. Additional Insights - The company is focused on maintaining a balance between revenue growth and profitability, ensuring that investments in talent and quality do not compromise financial health [25][27]. - The management expressed confidence in achieving the set targets, provided that external market conditions remain favorable [12][12]. This summary encapsulates the key discussions and insights from the conference call, highlighting the company's strategic direction and operational challenges.