Securities code: 300595 securities abbreviation: Autek China Inc(300595) record of investor relations activities on January 21, 2022
No.: 2022-002
Investor □ specific object research □ analyst meeting
Relationship activity □ media interview □ performance briefing
Event category □ press conference □ Roadshow
□ site visit □ online meeting
Southern fund, Agricultural Bank of China Huili fund, Nord fund, China Europe Fund, Pengyang fund, Shanghai Shifeng asset, Shanghai Bank fund, Tianhong fund, Cinda Aoyin fund, superstring fund, TEDA Manulife fund, ChuangJin Hexin fund, huitianfu fund, Boshi fund, Dacheng Fund, Soochow Fund, Dongxing Securities Corporation Limited(601198) Research Institute, Dunhe asset management Founder Securities Co.Ltd(601901) Research Institute, ICBC Credit Suisse fund, Yimi fund, China Merchants asset management, point participation form 72, China Industrial Securities Co.Ltd(601377) Research Institute, Fengrui capital, Guangdong Huaxing bank, Guohua Xingyi insurance assets, Guolian name Securities Research Institute, Zhuque fund, Guotai Junan Securities Co.Ltd(601211) securities, Haitong Securities Company Limited(600837) , Huaan Securities Co.Ltd(600909) , Huatai bairuiji and personnel fund, Zhejiang Shaoxia investment management, TEDA scientific investment Huaxi Securities Co.Ltd(002926) Research Institute, Shanghai Gaoyi assets, Shenwan Hongyuan Research Institute, Capital Securities Research Institute, The Pacific Securities Co.Ltd(601099) Securities Research Institute, Tianfeng (Shanghai) securities assets, Nanjing Yongze asset management, Tianfeng Securities Co.Ltd(601162) Research Institute, China Securities Co.Ltd(601066) securities, chanlong assets, Ruizhi capital, Shenzhen qianhaijingzhi asset management company, Shenzhen Ruihong investment management company, And more than 200 institutional and individual investors. (the above ranking is in no order)
Time: 16:00-17:00, January 21, 2022
Location: Dr. Tao Yuequn, founder, chairman and general manager of online listed companies; Ms. Shi Xiansi, deputy general manager of the board of directors and Secretary of the board of directors, attended the meeting; Mr. Wei Lizhi, director and chief financial officer; Ms. Yin Yin, financial manager; Surname of assistant chairman and certifier
Ms. Li Yan, representative of famous securities affairs.
Exchange the chairman of the board of directors to exchange questions raised by investors. link
Q: Does the recent stock price performance affect our private placement?
A: Recently, the stock price fluctuates greatly. It will not be implemented before the Spring Festival and will be discussed after the Spring Festival. When will it be implemented? Share price is one of the factors to be considered in the implementation of additional issuance, which will be discussed with relevant experts after the festival. thank you!
Q: Why don’t the management and major shareholders increase their holdings?
Investor a: the responsibility of the company’s management is to run the enterprise well. We are not financial and securities experts. We don’t deal with live stocks. Since the listing, the management of the company has always adhered to the principle of no comment, no prediction and no intervention on the stock price, focusing on the operation of the company. The fluctuation of stock price is caused by the market and the main result of investors’ behavior. The management of the company can participate voluntarily and in accordance with the rules. Many executives and employees of the company are shareholders. Rong introduced that when the stock price rises or falls, we remind employees, especially executives, not to spend time paying attention to the price fluctuation of the stock, do not let it affect the work mood, and do their own work well is the real help to the company and themselves. As for myself, at present, I hold about 35% of the shares, and my interests are firmly tied to the company.
Q: The company’s performance increased during the national epidemic in 2020, why did the performance decline in 2021? A: Your information is wrong. In the first quarter of 2020, the company’s performance declined, which is the only decline in so many years. Please check the announcement. In each quarter of 2021, the sales business is growing. In the fourth quarter, excluding the impact of equity incentive lifting and deduction of income tax, it also increased, which is explained in the notice.
Q: How many stores does the company decorate in the country now? How’s it going? Where are they?
A: Self operated optometry terminals are mainly in Anhui and Jiangsu. Non self operated optometry terminals are operated by holding subsidiaries. The specific number of terminals will be disclosed in the annual report. In the distribution system, visual service terminals that have no equity relationship with the company are also expanding.
Q: Will OK mirror be collected in the future?
A: As in the last reply to investors’ questions, logically, corneal shaping mirror is not within the scope of medical insurance reimbursement. It is a self funded project and does not belong to basic medical security. It should not be collected. Even the frame mirror, the most basic product of vision correction, has not been collected. Now there are some legends in the market, we and you
The same concern, but so far no government department has mentioned this matter with us, so we are not clear and there is no internal information.
Q: The performance slowed down in the fourth quarter. Did the company take any development measures in the first quarter?
A: The slowdown in the fourth quarter is mainly caused by the epidemic situation, which will be affected if the epidemic situation is not alleviated. For example, Xi’an, Shaanxi is currently closed. We have been discussing measures to improve sales. The current sales situation in the first quarter is normal.
Q: What is the basis for the 20% profit increase of the equity incentive scheme of the management?
A: After listing, the company has made equity incentives for four times, and the lifting policy has always maintained continuity. For investors, the ban was lifted in three years. The requirements are that the deduction of Non Profits in the previous year should be increased by 25%, 50% and 80% respectively. This time, the relationship activity should be extended to five years. The requirements are that the deduction of Non Profits in the current year (2021) should be increased by 20%, 44%, 72.8%, 107.36% and 148.83% respectively. This requirement is more stringent than previous times. First, the lifting of the ban within the main period is extended to five years, and second, the performance comparison benchmark is changed from the previous year to the current year. Rong introduction
Q: What are the advantages and disadvantages of our products compared with those of Europe, America, Japan and South Korea?
A: Only from the product itself, we are completely personalized, and the decline in myopia is also the highest.
We started to design, process and manufacture after receiving the order. The parameters of each lens can be adjusted. It is completely personalized and the delivery is the fastest. More broadly, our products have been on the market for 16 years. After so many years and the verification of huge user groups, our R & D team, production equipment and capacity, production management system and experience, technical training and support ability, after-sales service network, etc. are all first-class. Of course, a few Chinese people prefer imported products psychologically. In this regard, we suffer losses and have nothing to do.
Q: What is the operating status of the company’s visual terminals?
A: In the reply to the fixed increase inquiry letter of the exchange, you can refer to the operation statistics of some visual terminals.
At present, about 300 terminals are controlled, generally making progress year by year, from loss to profit. The company decided to expand its scale after three or four years of trial and confirmed the great demand for community-based optometry services, and then applied for additional issuance.
Q: Is the decline in Q3 and Q4 performance a short-term trend or a long-term trend in the industry?
A: Q3’s performance has increased, but the epidemic has affected the growth rate. Q4’s sales performance (excluding equity incentive lifting and deduction of income tax) has also increased, and the epidemic has also affected the growth rate.
At present, the epidemic has affected the growth rate. For example, in the first half of 2021, the epidemic situation was stable and the order growth was good. After the epidemic in Nanjing in late July, the order growth decreased, followed by a decrease in the orders in the epidemic area and its surrounding areas. We believe that the whole industry is still in the rising stage.
Q: Is the store being renovated shut down because of the epidemic?
Investor a: there are few places that are completely closed and do not allow decoration. In addition to the closure of Xi’an, the decoration of most other places has not been affected, mainly medical institutions and services. Dynamic AC
Main internal Q: what are the plans and objectives for improving the competitiveness of products and channels?
Rong introduction a: continue to strengthen academic promotion and technical training. In the past, we mainly carried out academic promotion at national ophthalmology and optometry conferences, and conducted primary and intermediate technical training at the headquarters. At present, we have made adjustments according to the epidemic situation and started regional academic promotion and training to reduce the impact of travel inconvenience caused by the epidemic situation.
Continue to strengthen brand publicity. We have previously carried out several “made in Anhui” advertisements on China Central Television, and are discussing and trying a variety of channels that can carry out brand publicity.
Q: What kind of products does the factory build?
A: The first project of additional issuance is not to build factories, but to expand production capacity, including the expansion of lens production capacity, nursing products and other products. The company has acquired 43 mu of land next to the headquarters. It used to be the factory of a biopharmaceutical company. Some production plants have been built. The company will be put into production after decoration.
Q: How much is the investment of a visual terminal?
A: Visual terminals are divided into different levels.
The largest is the secondary hospital, with an investment of tens of millions, which needs about 60 beds, corresponding to at least 60 medical technicians, including doctors and nurses;
The second is a first-class hospital or a new non graded Eye Hospital, which needs about 20 beds and corresponding medical technicians;
The third is the ophthalmic outpatient department, with an area of less than 1000 square meters and an investment of less than 5 million. Finally, we will issue additional community-based optometry service terminals to raise funds, which are divided into two levels: county level and community level. County and district level terminals are relatively large, covering an area of about 400 square meters, with 10 people planned, and the investment amount is planned to be about 1.65 million; The community level terminal covers an area of about 200 square meters, is planned to be equipped with 6 people, and the investment amount is planned to be about 1.1 million. The prospectus and the reply report to the fixed increase inquiry letter are also detailed, which you can refer to.
Investor Q: are there any preconditions for the company to start additional issuance after the Spring Festival?
Relationship activity a: we will consider the stock price. Since we are not financial experts, we will invite financial experts to exchange evaluation and discuss with interested investment institutions. Main inside
Q: what is the progress of the company’s raw materials in?
A: Small and medium-sized tests have been completed and are being submitted for inspection.
Q: What do you think of the plan to lower the grass-roots level of the 14th five year plan ophthalmic clinic?
A: We think it is a good thing for the country and the people. There is a great demand for ophthalmology, especially optometry services. In addition to juvenile myopia, the vision problems of the elderly are also very prominent. The proportion of the population over the age of 60 in Anhui Province has reached nearly 19% of the total population.
There is a large market for community and grass-roots optometry services, which is very in line with the development needs of China’s graded diagnosis and treatment. The development direction and implementation plan of Autek China Inc(300595) are consistent with the national 14th five year plan.
Q: Zhejiang and Guangdong are major economic provinces. Is it difficult to expand business in these two places?
A: Zhejiang and Guangdong are the key expansion areas of the company, and their development is relatively good. The company’s “Jiangsu Department” has been upgraded to “Jiangsu and Zhejiang Department”, and is strengthening the expansion of Zhejiang. We will strengthen business expansion in major economic provinces such as Guangdong, Zhejiang and Fujian.
Q: New actions of the company in the new year? New ideas for R & D?
A: The development of the company is continuous and has always been two legged: (1) the development of new products + new technologies; (2) Expansion of optometry service terminals.
The development of new products is multi-level, hard mirror and its related products; Visual products; Other medical
Equipment products, etc. open
