WEIXING(SZ:002003) Zheng Quan Ri Bao Wang·2025-03-29 03:12Core Insights - Zhejiang Weixing Industrial Development Co., Ltd. reported a revenue of 4.674 billion yuan for 2024, representing a year-on-year growth of 19.66%, and a net profit of 700 million yuan, up 25.48% [1] Business Performance - The button and zipper segments are the main revenue pillars, with button revenue reaching 1.954 billion yuan, a growth of 22.18%, and zipper revenue at 2.484 billion yuan, increasing by 15.94% [2] - Other apparel accessory products saw significant growth, with revenue of 164 million yuan, marking a 41.92% increase [2] Market Segmentation - Domestic market remains the primary revenue source, generating 3.094 billion yuan, a 14.74% increase, while international business revenue reached 1.581 billion yuan, growing by 30.62%, accounting for 33.81% of total revenue [2] - The company focuses on key provinces and cities in China and has established over 50 sales subsidiaries and offices [2] Capacity Expansion - Significant progress in capacity construction with upgrades in Bangladesh and successful production in Vietnam, leading to enhanced overseas manufacturing capabilities [3] - The company operates nine industrial parks with an annual production capacity of 12 billion buttons and 910 million meters of zippers, positioning itself as a large-scale comprehensive apparel accessory enterprise in China [3] Strategic Outlook - The company aims to leverage its overseas capacity to respond quickly to global customer demands, strengthen existing partnerships, and expand into emerging markets [3]