证券日报网讯伟星新材（002372）11月10日在互动平台回答投资者提问时表示，公司推出的"伟星全屋 水生态"包含给水、排水、防水、采暖四大子系统，其中给水系统已部分包含漏水监测、流量调控与自 动调节等智能化功能。未来，公司将继续对智能家居领域进行适配的设计和研发，不断优化消费者用水 体验，打造智能化系统解决方案。 ...

| | √特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动类 | □媒体采访 □业绩说明会 | | 别 | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | 参与单位名称及人 | 华源证券：戴铭余、唐志玮。 | | 员姓名 | | | 时间 | 2025 年 10 月 31 日 | | 地点 | 公司 | | 上市公司接待人员 | 谭梅、章佳佳、陈银琼 | | 姓名 | | | | 1、请问公司如何看待后续零售业务的需求情况？ | | | 答：公司零售业务的消费属性相对较强，其需求与经济景气度、消费信心的关 | | | 联度更大。目前刚性需求受到的影响不是很大，改善性需求仍被持续抑制，如果后 | | | 续经济景气度回升，相信改善性需求会逐步释放出来。 | | | 2、今年外部需求较弱、价格战愈发激烈，请问公司的竞争策略是什么？ | | | 答：面对当下市场环境，公司认为产品降价不是提升产品销售的最好选择，品 | | | 牌形象、品牌价值与内涵更为重要，因此今年公司更加强调"三高"定位和"共赢" | | 投资者关系活动主 | 理念，并努力通过产品力和服务力的提升给 ...

Financial Performance - In Q3 2025, the company achieved a revenue of 1.289 billion CNY, a decrease of 9.83% compared to the same period last year [2] - Net profit attributable to shareholders was 269 million CNY, down 5.48% year-on-year [2] - For the first nine months of 2025, total revenue reached 3.367 billion CNY, a decline of 10.76% compared to the previous year [2] - Net profit attributable to shareholders for the same period was 540 million CNY, a decrease of 13.52% [2] Business Highlights - Retail business revenue showed signs of stabilization with a significantly reduced decline [2] - The company's gross margin remained stable despite challenging market conditions, indicating brand and service recognition [2] - The launch of the "Weixing Whole House Water Ecology" initiative is showing initial positive results [3] Market Outlook - No signs of market recovery have been observed, and the company anticipates continued pressure in Q4 [3] - The waterproof business experienced slight revenue growth, while the water purification business saw a significant reduction in revenue decline [4] Cash Flow Management - The company maintains good cash flow due to a strong focus on cash management, inventory control, and accounts receivable [5] Product and Service Strategy - The company is enhancing its terminal store image through flagship and experience stores, improving product display and consumer experience [6] - Efforts to achieve product "re-pricing" through upgrades in product and service offerings are underway, with a positive overall trend despite a slight year-on-year price drop [7] Dividend Policy - The company has a stable and transparent dividend policy, with an average payout ratio of 70-80% since its listing [8]

Financial Performance - In Q3 2025, the company achieved a revenue of 1.289 billion CNY, a decrease of 9.83% compared to the same period last year [2] - The net profit attributable to shareholders was 269 million CNY, down 5.48% year-on-year [3] - For the first nine months of 2025, total revenue reached 3.367 billion CNY, a decline of 10.76% compared to the previous year [3] - The net profit attributable to shareholders for the same period was 540 million CNY, down 13.52% year-on-year [3] Business Highlights - Retail business revenue showed signs of stabilization with a reduced decline, indicating resilience [3] - The company's gross margin remained stable despite a challenging market environment, reflecting brand and service recognition [3] - Innovations in the business model, particularly the launch of "Weixing Whole House Water Ecology," have begun to yield results [3] Market Challenges - The external market environment remains pessimistic, with expectations that Q4 pressures may not be less than those in Q3 [3] - The industry is experiencing intensified price wars, but the company aims to maintain a "high-quality development" strategy to enhance core competitiveness [4] Future Outlook - The company plans to continue its stable and transparent dividend policy, with an average payout ratio of 70-80% since its listing [5] - There are ongoing efforts to implement an equity incentive plan to motivate key personnel and promote win-win development [5] - The establishment of a production base in Xinjiang is aimed at leveraging national development opportunities and reducing logistics costs [6] Cash Flow and Receivables - The net cash outflow from investment activities in Q3 was primarily due to increased purchases of bank financial products [6] - The company has improved its accounts receivable management, resulting in a healthier overall situation [6]

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]