蒙娜丽莎：下游需求结构中，地产相关占比约17%

Group 1 - Mona Lisa announced on September 2 that the downstream demand structure shows that the real estate-related (engineering channel) accounts for approximately 17% (including a small amount of government projects), which is a slight decrease compared to last year [2] - The distribution channel mainly consists of new home decoration and second-hand home renovation, with the second-hand home renovation including both stock home decoration and secondary decoration of finely decorated homes [2] - The distribution channel accounts for about 83%, primarily composed of new and old home decoration, with national policies such as "old-for-new" subsidies significantly promoting the demand for improved decoration [2]