The hottest Yutong technology welcomes the first s

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Yutong technology welcomes 38 institutions to conduct research, and the first smart factory will be put into operation next year

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core tip: Recently, 38 institutions such as CITIC Securities, CITIC construction investment and Shenwan Hongyuan have conducted research on Yutong technology. Wang Huajun, chairman and President of Yutong technology, Hu min, independent director, Zhu Yongli, vice president and chief financial officer, Zhang enfang, vice president and Secretary of the board of directors, and Jiang Tao, representative of securities affairs, received

in the interactive communication link, Yutong technology replied, "Wardle explained that he answered questions such as the company's future business planning and outlook, the measures taken by yunchuang subsidiary to improve its gross profit margin, the reasons for the higher gross profit margin in the first half of the year, and how to ensure profits under the goal of doubling in three years

please introduce the company's future business plan and outlook

answer: the company's future business plan will mainly focus on large packaging. With the consumption upgrading driving the service upgrading and product upgrading, the company's business will continue to improve with the consumption upgrading; On the other hand, the company will continue to increase investment in research and development, seek new breakthroughs in new packaging fields such as environmental protection packaging and intelligent IOT, and drive industry upgrading

the main business of the company's yunchuang subsidiary is personalized customized products, which does not have scale effect. What measures does the company have to improve its gross profit margin

answer: the company's personalized packaging and printing products are customized products, which are mainly positioned in the medium and high-end market, and the equipment of the company's personalized customized production line is also specially used for small batch production. Its production mode is different from that of the mass production line, so its gross profit space cannot be simply judged by whether it has scale effect

in addition, different from the market cognition, the packaging and printing field can be subject to bidding due to its large volume. There are many market participants and the competition is relatively fierce. Instead, personalized printing is a high margin industry. Instead of printing a large number of products in the traditional way, it belongs to blue ocean competition

3c market competition is fierce. How does the company view the future 3C packaging market

answer: in recent two years, due to fierce competition in the 3C market, its gross profit margin is theoretically at the low level of the industry cycle. In the future, with the reform and upgrading of manufacturing methods, it will promote the improvement of gross profit. Moreover, due to the introduction of 5g products, it is bound to bring a new round of machine changes and a new round of growth in 3C business

please introduce the company's wine bag business

answer: in recent years, the company's wine bags have developed rapidly. At present, it has cooperated with most well-known brands such as Moutai, Yanghe, Luzhou Laojiao, gujinggong, etc. according to the shortlist of bidding announced by Moutai on August 29, the company and its subsidiaries Luzhou Yutong and Chengdu Yutong were shortlisted in the "bidding for suppliers of wine paper gift boxes (handmade boxes) and supporting bags" and "bidding for suppliers of wine paper card boxes and supporting bags" of Moutai "Bidding for suppliers of alcohol outer packaging cartons" has fully covered its packaging business. With innovative achievements in the national special project for international scientific and technological cooperation undertaken by Sichuan University - the design, preparation and micro processing project of medical high molecular nanocomposites, it is believed that the company will have better cooperation opportunities with Moutai in the future

the customized platform of domestic companies in the same industry is not profitable. What are the advantages of the company in customized products

answer: compared with small printing plants, the customized business of the company may not have a great cost advantage. The customized market segment industry is indeed large, and it is unlikely to be dominant in the future, but compared with large printing manufacturers: ① in terms of platform construction ability, only JTC has achieved manufacturing + platform; ② Enterprises that enter this field in succession, fast fish eat slow fish, and enterprises that first carry out transformation and upgrading can continue to innovate and maintain a leading edge

the company has a high growth rate in various market segments. What are the difficulties of the company in expanding market segments

answer: there will definitely be difficulties. Although they are all paper packaging, there are still subdivisions and differences in different fields. In fact, the company has already begun to layout in each market segment. It entered the cigarette bag Market in 2008 and the wine bag Market in 2013. In addition, the entry of new fields such as cosmetics and environmental protection packaging is to layout in advance. There may be a process of teaching tuition fees

through the layout in advance, these new businesses can ensure the growth of the company in the coming years. No company in the industry will specialize in only one field; Being able to successfully enter new fields also proves that the company's team has the ability to go out

what are the reasons for the company's higher gross profit margin in the first half of the year

answer: the main reasons for the rise of the company's gross profit margin in the first half of the year are: ① the price of raw materials decreased; ② The company implements refined management to improve operation efficiency; ③ The company's informatization, automation and scale effect are reflected in the cost reduction of 5% to 7% by changing the electrode material of solar cells to copper electroplating

what impact will the plastic ban policy have on the company

answer: Plastic ban is the general direction and trend at present. The company has laid out environmental protection paper and plastic products in advance. The environmental protection paper and plastic factory in Vietnam has begun to make orders for meal bags. At present, the situation of receiving orders is very good, and the orders in the next year have been full. The market demand is very strong

the company is also docking with some pilot cities for plastic ban. Hainan is currently a leading model city for plastic ban in China. Once Hainan has established a benchmark city image, it may be gradually introduced to other cities in China. In addition, the company is not only making products in environmental protection packaging, but also doing research and development. At the same time, it is also docking with the government to jointly promote product research and development

what is the impact of foreign exchange fluctuations caused by trade frictions on the company

answer: the company has carried out foreign exchange hedging and other measures to reduce the impact of exchange rate fluctuations, but it still has a large exposure, such as the depreciation of RMB against the US dollar, which is good for the company. Of course, the company will pay real-time attention to exchange rate fluctuations and actively take a number of measures such as controlling the dollar net asset limit to smooth the adverse impact of exchange rate fluctuations

how to ensure profits under the goal of doubling the fatigue life of V-belts and multi wedge belts in three years

answer: the competition of traditional paper packaging will definitely be more intense in the future. The company will reduce costs through smart factories in the future. The first smart factory will be put into operation next year, and the subsequent smart factories will be put into operation in. Now the company's labor cost accounts for 22%, and the proportion of labor cost may fall to less than 15% in the future. In the future, as long as it has advantages over its peers in terms of cost, it can maintain a good profit space

in addition, businesses with high added value, such as personalized packaging and environmental protection packaging, have better profits. The company also hopes to strive towards high added value in the future and maintain a stable increase in the overall gross profit margin

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