CompX国际2024年度报告

representatives. We select manufacturer’s representatives based on special skills in certain markets or relationships with In addition to sales to large OEM customers, a substantial portion of our Security Products sales are made throughdistributors. We have a significant North American market share of cabinet lock security product sales as a result of thelocksmith distribution channel. We support our locksmith distributor sales with a line of standardized products used by We sell to a diverse customer base with only one customer representing 10% or more of our sales in 2024 (UnitedStates Postal Service representing 21%). Our largest ten customers accounted for approximately 47% of our sales in 2024. Competition The markets in which we participate are highly competitive. We compete primarily on the basis of product design,including space utilization and aesthetic factors, product quality and durability, price, on-time delivery, service andtechnical support. We focus our efforts on the middle and high-end segments of the market, where product design, quality,durability and service are valued by the customer. Our Security Products segment competes against a number of domestic Environmental, Social and Governance (“ESG”) We seek to operate our business in line with sound ESG principles that include corporate governance, socialresponsibility, sustainability and cybersecurity. We believe ESG means conducting operations with high standards ofenvironmental and social responsibility, practicing exemplary ethical standards, focusing on safety as a top priority,respecting human rights and supporting our local communities, and continuously developing our employees. At ourfacilities, we undertake various environmental sustainability programs, and we promote social responsibility andvolunteerism through programs designed to support and give back to the local communities in which we operate. Each of In an effort to align our non-employee directors’ financial interests with those of our stockholders, our board ofdirectors established share ownership guidelines for our non-management directors. In addition, we have adopted an Regulatory and Environmental Matters We have a history of incorporating environmental management and compliance in our operations and decisionmaking. We operate three manufacturing facilities and our production processes requiring waste-water discharge areconsolidated at our Mauldin, South Carolina facility. This facility has received a ReWa Compliance Excellence Award Our operations are subject to federal, state and local laws and regulations relating to the use, storage, handling,generation, transportation, treatment, emission, discharge, disposal, remediation of and exposure to hazardous and non-hazardous substances, materials and wastes, some of which are becoming stricter over time. Our operations also are subjectto federal, state and local laws and regulations relating to worker health and safety. We believe we are in substantial