Securities code: 301029 securities abbreviation: Dongguan Yiheda Automation Co.Ltd(301029)
Dongguan Yiheda Automation Co.Ltd(301029)
Record of investor relations activities
No.: 2022-002
□ specific object research □ analyst meeting
□ media interview □ performance briefing
Investor relations activities
Event category □ press conference □ Roadshow
☑ field trip
☑ Others (teleconference)
(regardless of ranking) Yong’an Guofu, Temasek Temasek, Jianshun investment, CAITONG asset management, Yuyi assets, Hengzhi investment, Guohua Xingyi insurance assets, founder asset management, Hua’an Fund Management Co., Ltd., Soochow self operation, China Sea Fund Management Co., Ltd., Renqiao (Beijing) Asset Management Co., Ltd Research Department of Anxin Securities Investment Commission, Changjiang Endowment Insurance Co., Ltd., ningquan assets, rpower Ruibai capital, China Merchants Bank financial management, Danyi investment, GF asset management, Hexi investment, Fusheng assets, Nanjing self operation, China Post venture fund management Co., Ltd., Huaxia future capital management Co., Ltd Societe Generale Fund Management Co., Ltd., Cinda Aoyin Fund Management Co., Ltd., Soochow life insurance, Shanghai Pudong AXA Fund Management Co., Ltd., JP Morgan Asset Management Co., Ltd., Huabao Fund Management Co., Ltd., Shanghai Investment Morgan Fund Management Co., Ltd., AIA Life Asset Management Co., Ltd., Guojin fund management Co., Ltd CCB Fund Management Co., Ltd., Xinyuan Fund Management Co., Ltd., CAITONG self operated, Taikang Asset Management Co., Ltd., Ruiyuan Fund Management Co., Ltd., Xiangchu assets, BOC International securities asset management, Cathay Pacific Fund Management Co., Ltd., Shibei investment, binyuan capital, Penghua Fund Management Co., Ltd Boshi Fund Management Co., Ltd., Huashang Fund Management Co., Ltd., Jinyuan Shunan Fund Management Co., Ltd., Zhishun investment, Anatole, Taiping Asset Management Co., Ltd., e fund management Co., Ltd., CITIC Prudential Fund Management Co., Ltd., China Securities Co.Ltd(601066) securities, Yinhua Fund Management Co., Ltd China Canada Fund Management Co., Ltd., Jiutai Fund Management Co., Ltd., Jinying Fund Management Co., Ltd., Gaoyi assets, Bodao Fund Management Co., Ltd., Qushi assets, Minsheng Jiayin Fund Management Co., Ltd., Chenxiang investment, Harvest Fund Management Co., Ltd., Tianzhi Fund Management Co., Ltd., Jingxi assets, Wolong port investment Jinmen finance and economics, Yihe Jiufu, Shenjiu assets (hawthorn tree), CCB Trust Co., Ltd., Minghe investment, Guoshou Security Fund Management Co., Ltd., GF self operated, PICC Asset Management Co., Ltd., RONGTONG Fund Management Co., Ltd., Pengyang fund, Chenghuai investment, Nord Fund Management Co., Ltd Guohai Asset Management Co., Ltd., Xingzheng Global Fund Management Co., Ltd., Guohai self operation, octorivers, Changsheng Fund Management Co., Ltd., Dunhe Asset Management Co., Ltd., Xiniu investment, prime Yongjin investment, CAITONG fund, Dongfanghong, Hillhouse Hillhouse capital, millennium, Huatai Securities Co.Ltd(601688) asset management (equity) Guolian’an Fund Management Co., Ltd., Shenzhen happy time private equity fund, customer, Hengyue
Fund Management Co., Ltd., Yuanxin Yongfeng Fund Management Co., Ltd., Pengyang Fund Management Co., Ltd., Minsheng trust, Fengchi assets, Soochow Securities Co.Ltd(601555) Research Institute, Shanghai Shiva Asset Management Co., Ltd., Huaan Securities Co.Ltd(600909) self operated, Huatai Insurance Asset Management Co., Ltd., China Industrial Securities Co.Ltd(601377) self operated, Shanghai bodu investment Management Co., Ltd., Longhang assets SDIC UBS Fund Management Co., Ltd., Tongtai Fund Management Co., Ltd., Taikang asset management, Danshui spring, Neuberger Berman road Bomai, BOC fund, Everbright Prudential, Societe Generale fund, Zhongrong fund, Guoshou security fund, xingyin wealth management, Jiutai, life assets, powerpacific Bauer Taiping, Changjiang asset management Yongan Guofu, huitianfu fund, rays capital, Zhongtai Securities Co.Ltd(600918) , Morgan Stanley Huaxin Fund, CCB fund, SDIC UBS fund, Societe Generale fund, Boshi fund, PICC pension, Taiping assets, Taiping assets, Qianhai life insurance, China Merchants Bank financial management, CICC asset management, CITIC asset management, Huaxia future, Changsheng fund BQD financial management, fortune trillion fund, fortune trillion fund, Kaifeng investment, fortune trillion fund, all-weather private placement, Hua’an assets, China Europe Ruibo, Junhong investment, Tianchong capital, Ruijun investment, ningquan assets, Renqiao assets, Hengzhi investment, Qushi assets, Yuancheng investment, Shengyu investment, Yuyi assets, GF asset management Qinmu assets, Guoxin self operated, Tongyuan investment, PICC assets, Gefei assets, Xueshi assets, Western Lide fund, Shenzhi assets, t Rowe price, GF machinery, China Europe Fund and Huaxing securities
Time: February 16, 2022, February 17, 2022, February 18, 2022
Location: telephone conference on February 16, 2022, February 17, 2022, and on-site investigation of Hengli Park, No. 33, Taoyuan Second Road, village tail, Hengli Town, Dongguan on February 18, 2022
Name of Huang Qiang, Secretary of the board of directors of the listed company
The main questions and answers of this survey are as follows:
Q1: why does the company maintain high gross profit margin?
A: The company belongs to the subdivided industry of automation parts, and its products have the characteristics of many kinds, miscellaneous specifications, non-standardization and so on.
In China’s automation parts industry, most enterprises supply one or more parts products in their respective industry segments. The procurement of spare parts and live parts required by automation equipment presents the characteristics of specialization, small batch and multiple varieties. The main contents of automation equipment industry are introduced in the process of design, selection and procurement. They often face common problems such as long time-consuming design of automation parts, high procurement cost, uncontrollable quality and untimely delivery. According to the characteristics of small batch, high frequency and short delivery time of automation parts orders in FA factory, driven by information and digitization, the company improves the supply efficiency of automation parts and reduces the comprehensive cost through standard setting, product development, supply chain management and platform operation. Compared with the price of a single product, customers pay more attention to order responsiveness, procurement efficiency and product quality. Therefore, the company’s gross profit margin is the comprehensive embodiment of the company’s one-stop procurement service ability, indicating that the company has strong profitability.
Q2: will the increase in the number of SKUs, especially non-standard SKUs, affect the company’s inventory management? If the customer orders ten non-standard SKUs and later only buys five, will the remaining five be wasted?
A: Generally, there is no waste. Some products are non-standard SKUs in the eyes of customers, but they are actually standard products for the company. The company has planned goods preparation and inventory, and not all SKUs will prepare goods. It is necessary to consider the balance between response speed, sales frequency and inventory scale; The number of SKU finished products in stock in 2021 is about
180000-200000, and the overall number of products is close to 1.3 million. In 2020, the number of finished SKUs in stock is about 160000-170000, and the overall number of products is about 900000. The non-standard products customized by customers are produced or prepared on demand, and there is no waste.
Q3: what are the ways for the company to obtain customers?
A: The exact expression of the company should be B2E, with the engineers behind serving customers as the origin. The source of selling non-standard equipment is not procurement, but design engineers. Offline customer development is mainly carried out through on-site visits of salespeople, business negotiations, industry exhibitions, word-of-mouth marketing and other ways; Promote design software and design manuals to engineers, and develop customers online mainly through offline customer conversion, industry exhibition, telephone / email, engineer forum, new media and we media operation.
Q4: what is the personnel composition and management structure of the product center?
A: In terms of organizational structure, 20% of production personnel are in the sequence of product centers. Last year, there were 60 product centers, and this year, the establishment is expected to exceed 70. The product center responsibility system is the main responsibility form of the company. It is divided according to product categories to ensure the pricing management, goods preparation, production form and all-round management of the whole life cycle of product development from customer demand to the refinement of customer application scenarios, so as to adapt to the flexible and dynamic organizational structure of market demand. Since there were only a few product centers in the beginning, up to now, there are different product supply forms. The organizational structure of the product center mainly determines the size of basic personnel and divides different functional departments according to the sales scale and supply form of products. The deputy general manager or director will be in charge of several or more product centers or business divisions.
Q5: does the company have access to the upstream and downstream digital supply chain?
A: Under the traditional mode, the enterprise information system is difficult to adapt to the characteristics of small batch, high frequency and short delivery time of automation equipment parts orders. The information and digital ability has become the operation basis for the company to improve the one-stop procurement service of automation parts in FA factory. Through the customized development of ERP, the company has established an efficient and stable information management system to ensure the information management of the whole link from order, production, procurement to delivery, improve the order response speed and shorten the delivery cycle. In addition, through the connection agreement, the company has partially realized the system docking of ERP information system with upstream suppliers and downstream customers, and gradually developed the ERP information system into an integrated system integrating procurement, approval, logistics and settlement. The company will ensure that what customers choose is what they need through digital product database and e-commerce trading system, and improve the efficiency of customer design, selection and procurement.
Q6: please introduce the company’s information and digital construction?
A: Informatization is the company’s infrastructure and basic strategy. For the long tail market demand, it is difficult to grasp the needs of customers, realize flexible production and sort and distribute scattered orders without digital tools. Last year, there were two important manifestations in the information construction. One is that the sorting efficiency of the automatic storage system launched by the supply chain management system has been increased by three times, and the storage efficiency has changed greatly; The second is the support of information system for business decision-making. These two items have the deepest feelings since 2021. The most obvious support of the upstream supply chain is the quantity of orders and products, which gives suppliers more guidance for production. The company has a self-made production department. What we call batch production is different from the common large-scale batch production in the market. Our own batch production scale is not large, and more than a dozen to dozens of pieces have been counted as a scale; However, it may be 500-1000 pieces in the market that can meet the definition of “scale”. We combine similar items and adopt information-based means to centralize scattered items to improve efficiency. The time of loading and programming from the previous production mode may be more than 20 minutes, and the processing of workpieces may only be a few minutes. 3-5 scattered orders are often processed, reaching a total of nearly 30 minutes; Through informatization, classified implementation and solidification of programming into programming software, the operator only needs to adjust the coefficient, and the actual production takes only 3-5 minutes compared with the previous machine adjustment, fixture replacement and loading and unloading. A single production personnel can control 3 machine tools. This is the role of informatization on the production end.
Q7: does the company have plans for overseas markets?
A: With regard to the planning of overseas markets, the company has a layout and plans to expand overseas business in Southeast Asia. As a global manufacturing center, China has an unstoppable trend of capacity overflow. At present, in terms of the total amount of the global market, the Chinese market is mainly incremental, while the stock market in the overseas market is very large. In the future, with the spillover of China’s production capacity, the overseas market also needs the supply chain to support the development and growth. Going to the overseas market can also continuously improve the company’s ability. At the same time, the expansion of overseas markets requires the continuous construction of customers, industrial structure, overseas supply chain, cross-border delivery, people flow, logistics, business flow and information flow. The overseas marketing department of the company is actively promoting it.
