On April 26, the 2023 online performance briefing of Suzhou Taihu Snow Silk Co., Ltd. (hereinafter referred to as "Taihu Snow"), a company listed on the Beijing Stock Exchange, was held at China Securities Journal and China Securities Network. In 2023, the company achieved operating income of 531 million yuan, a year-on-year increase of 56.07%, and net profit attributable to the parent company of 34.346 million yuan, a year-on-year increase of 8.59%.
In the first quarter of this year, Taihu Snow's performance maintained a "double increase", achieving an operating income of 109 million yuan, a year-on-year increase of 24.54%, and a net profit attributable to the parent company of 7.3883 million yuan, a year-on-year increase of 14.17%.
Taihu Snow Store Image source: Courtesy of the company
According to public information, the company takes the "Taihu Snow" brand as the core, specializing in the research and development, design, production and processing, brand promotion, channel construction and sales services of silk-related products. After more than 10 years of deep cultivation and development, the company has formed four major product series of silk quilts, bedding kits, silk accessories and silk clothing, and "Taihu Snow" has also become a representative brand of silk with a certain industry reputation in the market.
Guest of honor at the performance briefing
Hu Yufang, chairman and general manager of the company
Dai Yan, director and secretary of the board of directors of the company
Yan Jianxin, Chief Financial Officer of the company
frequently asked questions
Q: What are the reasons for the company's significant revenue growth in 2023?
Answer: In 2023, the company will actively implement the marketing channel construction and brand upgrading projects in the fundraising investment projects, and improve the three-dimensional sales model of online and offline, domestic and overseas simultaneous development.
On the basis of adding new directly-operated stores and continuously improving the operation quality of existing stores, domestic offline channels expand public domain traffic, cultivate private domain traffic, and accelerate the integration of online and offline development through video accounts and short videos.
Online channels at home and abroad take advantage of the operational advantages in the categories of silk quilts and silk kits to expand the brand promotion and sales conversion of a full range of products. During the reporting period, the main business income of offline channels increased by 50% year-on-year, and the main business income of online channels increased by 63.22% year-on-year.
Taihu Snow Store Image source: Courtesy of the company
Q: What is the company's marketing strategy to achieve substantial growth in the Douyin channel in 2023, and will it continue to focus on the Douyin channel in the future?
Answer: In 2023, on the basis of improving the operation of the "Taihu Snow Official Flagship Store", the Douyin channel will add the construction of the live broadcast room of the "Taihu Snow Life Home Furnishing Flagship Store". On the one hand, Douyin expands the brand awareness and sales conversion in the public domain traffic through "Dabo", and on the other hand, builds a brand private domain traffic pool through "brand self-broadcasting" to strengthen the brand positioning of "Taihu Snow on Silk Quilts". During the reporting period, the main business revenue of Douyin channel increased by 394.3% year-on-year.
Subsequently, the company will continue to make efforts in emerging content e-commerce channels. In the first quarter of 2024, the main business revenue of Douyin channel increased by 159.61% year-on-year.
Q: In 2023, the company's revenue will expand and its market share will increase. What is the business plan for 2024?
Answer: In 2024, the company has formulated the business guiding ideology of "steady development, quality improvement and efficiency", including:
In terms of marketing strategy, the offline channel company will open flagship super experience stores in core regional markets, and the online channel will continue to optimize the content innovation of Xiaohongshu and short videos, and improve the layout of overseas social media matrix.
In terms of product innovation, based on consumer insight and market demand changes, the company will explore Chinese silk culture and Suzhou history and culture, refine design elements, integrate advanced design concepts at home and abroad, and combine intangible cultural heritage techniques to create silk daily necessities with Chinese depth and international height.
In terms of brand building, through the combination of new media and traditional media, print and video complement each other, we will continue to tell the story of silk and strengthen brand building in the dissemination of silk culture.
In terms of talent construction, based on the company's development strategy and business plan, the company will strengthen the optimization of organizational structure, build a talent echelon, and enrich the construction of corporate culture; in terms of corporate governance, the company will strengthen the construction of internal control system, do a good job in standardized management, fulfill social responsibilities, and help the company develop with high quality.
Q: What is the situation of the company's brand "going overseas"?
Answer: The company's brand "going overseas" channels are mainly concentrated on Amazon and overseas official websites, and in 2023, the company's Amazon main business revenue will increase by 53.85% year-on-year. In terms of brand promotion, we mainly reached overseas consumers by building a global social media matrix. In 2023, the company will be awarded the "International Famous Brand Cultivated and Developed in Jiangsu Province" and the "Famous Brand of Cross-border E-commerce Cultivated and Developed in Jiangsu Province", which is the first brand in the silk industry to receive this honor.
Reviewer: Ren Mingjie Editor: Yu Hongbo Proofreader: Zhang Diange Producer: Zhang Nan Issued: Sun Hong