DGW_BUY_TP 143,000_SUCCESSFUL SALMON_BSC Company Update

VIEWPOINT OF PRICE

• The trend of high-end products of phones, laptops and SP Iots thanks to the rapid development of the gaming industry and the virtual world.
• Phone segment: The growth engine of the phone segment comes from (1) the Iphone and Xiaomi series (the pioneer advantage) which will continue to improve market share (2) the trend of switching from feature phones to smartphones smart phone.
• Laptop and tablet segment: Growth thanks to the luxury trend and the habit of working, studying at home combined with gaming;
• Office equipment segment: (1) the trend of digital transformation will be accelerated after the Covid 19 epidemic; (2) Positive contribution of new brands of home appliances segment;
• Factors to pay attention to: Continuing to diversify horizontally (expanding into F&B, industry and equipment segments), conducting M&A to increase scale and coverage.

• The share of xiaomi's market share is at risk of being shared with other distributors;
• Growth of new brands was lower than expected.