Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-07-31 23:20Core Viewpoint The company emphasizes a strategy of high-quality and steady development, focusing on risk management and enhancing operational quality while expanding its business into various sectors within the construction materials industry. Group 1: Company Overview - The company is committed to high-quality and steady development, prioritizing risk management and operational quality enhancement [2][11] - The company has diversified its business into multiple sectors, including waterproofing, civil building materials, mortar powder, building coatings, energy conservation, adhesives, piping, building renovation, new energy, non-woven fabrics, special films, and emulsions [11][29] Group 2: Financial Performance - For the first half of 2025, the company achieved a net profit attributable to shareholders of 564.44 million yuan, with a total distributable profit of 8.73 billion yuan [32][33] - The profit distribution plan includes a cash dividend of 9.25 yuan per 10 shares, totaling approximately 2.21 billion yuan [33][36] Group 3: Business Strategy - The company focuses on consolidating its waterproofing business while actively exploring new growth areas in infrastructure construction, public services, and renovation projects [3][23] - The company aims to leverage its existing customer resources and sales channels to rapidly develop non-waterproof businesses, providing comprehensive building material system solutions [3][4] Group 4: Market Position and Industry Context - The company is positioned as a leading player in the construction materials industry, particularly in the waterproofing segment, which is essential for modern construction [29][30] - The domestic waterproofing industry is characterized by low concentration and high fragmentation, with many small enterprises, while the company has established itself as a competitive and growing leader in the market [30] Group 5: Sales and Distribution Channels - The company has developed a multi-layered marketing channel network combining direct sales and channel models, with a focus on engineering and retail channels [27][28] - The engineering channel accounted for 84.06% of the company's revenue, highlighting the importance of this sales model [6] Group 6: International Expansion - The company is accelerating its international business layout, establishing overseas companies and enhancing its global supply chain [4][8] - Significant progress has been made in constructing overseas production bases, including projects in Houston, Saudi Arabia, and Malaysia, aimed at optimizing international operations and enhancing service capabilities [9][26]