Amway shares: actively promoting cooperation with BYD, currently in the stage of development verification and small batch trial production

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On June 16, Amway shares responded to the investor’s question on the investor interactive platform “whether the company has agreed to supply BYD? In the second half of the year, it is expected that small batches will be gradually mass-produced, but it will not have a significant impact on the company’s production and operation performance.

Amway also pointed out that the new energy vehicle interior market is an important business development direction for the company at present and in the future. The company is actively contacting new energy vehicle related brand enterprises, expecting to establish cooperation and expand sales. Initial results have been achieved, but the specific order situation Affected by factors such as macro environment, market demand, product sales, quality, development, etc., it is not entirely dependent on the company and is uncertain.

Amway shares previously stated that the company is actively developing cooperation with Great Wall, Toyota, BYD and other customers. The company’s products are mainly used in dashboards, car seats and other parts. The development and verification cycle of car brands is long, and the channel relationship is expanding. It takes a certain amount of time to accumulate and accumulate. At present, the revenue contribution of automotive interior accessories is relatively small, and it is expected to grow rapidly in the next year and next year, showing a development trend of “low base and high growth rate”. Of course, the company’s cooperation with automotive interior brands and order share are affected by various factors such as product development, quality, market fluctuations and industry competition, and are not entirely dependent on the company and are uncertain. In addition, the company is also actively looking for cooperation opportunities with domestic and foreign auto brands, and actively contacts with new energy vehicle manufacturers to seek cooperation opportunities, and strive to expand business and expand market share.

It is worth mentioning that the current conflict between Russia and Ukraine has a certain impact on the company’s exports to Russia, which is uncertain. However, Amway’s overall investment in Amway Russia is small and its revenue is small, and it is expected to have little impact on Amway’s operating performance in 2022.