研报掘金丨中邮证券：伟星新材Q3盈利能力修复，期待行业需求回暖

Core Viewpoint - The report from Zhongyou Securities indicates that Weixing New Materials experienced a decline in net profit for the first three quarters, but shows resilience in profitability despite overall industry weakness [1] Financial Performance - In the first three quarters, the company achieved a net profit attributable to shareholders of 540 million yuan, a year-on-year decrease of 13.52% [1] - In Q3 alone, the net profit attributable to shareholders was 269 million yuan, reflecting a year-on-year decline of 5.48% [1] Profitability and Market Strategy - The company is focused on a "high-quality positioning" strategy, avoiding ineffective price competition within the industry [1] - Since the beginning of the year, the company has been pushing for product price recovery, leading to improvements in retail prices and maintaining a high level of profitability [1] Business Development - The company is advancing its "Concentric Circle" business expansion and the implementation of "Weixing Whole House Water Ecology" [1] - The waterproofing business is experiencing steady growth, while the water purification business is optimizing rapidly, with market penetration gradually increasing [1]