OPPEIN(SH:603833) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-08 00:17Core Viewpoint - The company held a performance briefing on November 6, 2025, to discuss its third-quarter results and address investor concerns, emphasizing its commitment to stable development and shareholder returns [1][2]. Group 1: Performance and Financial Measures - The company has completed two share repurchase plans using its own funds, with a total transaction amount of 329 million yuan (approximately 3.29 billion) [2]. - The company has received authorization from the 2024 annual general meeting to develop a mid-term dividend plan for 2025, which will be implemented based on market conditions [3]. Group 2: Business Operations and Strategy - The "pre-receipts" on the balance sheet refer to amounts received from customers before a formal contract is established, indicating a focus on customer payments prior to service delivery [3]. - Changes in the "contract liabilities" on the balance sheet are influenced by multiple factors, including customer prepayments, order confirmations, and fulfillment of performance obligations [4]. - The company aims to enhance its "whole home" strategy, focusing on organizational reforms and improving delivery capabilities while optimizing brand development [7]. Group 3: Market Environment and Challenges - The company anticipates significant uncertainty in the external business environment for 2026, with challenges in macroeconomic conditions and consumer confidence recovery [8]. - The company plans to counteract industry pressures through efficiency improvements and the implementation of its "whole home" strategy [8]. Group 4: Inventory Management - The company has seen a gradual decrease in inventory levels due to industry trends and operational efficiency improvements, with a focus on aligning inventory structure with business development needs [9].