Group 1: Retail Business Outlook - The demand for retail business is closely linked to economic conditions and consumer confidence, with rigid demand being less affected while improvement demand remains suppressed [2] - If economic conditions improve, it is expected that the suppressed improvement demand will gradually be released [2] Group 2: Competitive Strategy - The company believes that lowering product prices is not the best way to boost sales; instead, it emphasizes brand image and value [2] - The company is focusing on a "three high" positioning and a "win-win" philosophy, enhancing product and service quality to improve consumer experience [2] Group 3: Business Model Upgrade - The upgrade of the business model is highlighted by the launch of "Weixing Whole House Water Ecology," which integrates four subsystems: water supply, drainage, waterproofing, and heating [2] - This shift aims to create a safe, comfortable, green, and intelligent water environment for users [2] Group 4: Competitive Advantages in Home Decoration Channels - The company has several advantages in home decoration channels, including high product quality, a complete product range, and a robust marketing and service system [3] - The "product + service" model effectively addresses the pain points of home decoration companies [3] Group 5: Renovation Market Insights - The probability of renovation for second-hand houses is significantly influenced by the age of the renovation, with a higher likelihood for those over 10 years old [3] Group 6: Engineering Business Development - The main goal for the engineering business this year is quality improvement, focusing on high-quality clients and innovative service to enhance customer experience [3] - The company adheres to strict risk control principles, particularly in managing accounts receivable [3] Group 7: Distribution Network - The company currently has over 1,000 primary distributors and more than 30,000 terminal marketing outlets, indicating a stable distribution network [3] Group 8: Retail Sales Channels - The primary sales channels for retail business include home decoration companies, project managers, and self-purchasing by homeowners, with varying sales proportions across different regions [3] Group 9: Channel Expansion - The company is actively expanding its channels by developing more distributors in underrepresented areas and penetrating into county and town markets to increase market share [3] - There is also a focus on accelerating market expansion for new businesses like waterproofing and system services [3]