Group 1: Retail Business Outlook - The demand for retail business is closely linked to economic conditions and consumer confidence, with rigid demand remaining largely unaffected while improvement demand is still suppressed [2] - The probability of renovation for second-hand houses is higher for those over 10 years old [2] Group 2: Raw Material Prices - The prices of raw materials for the company's main products are currently in a "low fluctuation" state, except for copper components [2] Group 3: Business Development - The waterproof business is developing healthily, while the water purification business is undergoing optimization [2] - The company has over 30,000 terminal marketing outlets [2] Group 4: Market Strategy - The company aims to enhance its core competitiveness by focusing on high-quality development and avoiding price wars [3] - Internationalization is a key future strategy, with current overseas business being minimal [3] Group 5: Dividend Policy - The company's dividend policy is stable and transparent, with an average payout ratio of 70-80% since its listing [3] Group 6: Water Ecosystem - The "Weixing Whole House Water Ecology" includes four subsystems: water supply, drainage, waterproofing, and heating, aimed at creating a safe and comfortable water environment [3] Group 7: Real Estate Market Outlook - The real estate market is expected to transition from quantity growth to quality improvement, with a sustained demand for high-quality housing [3] Group 8: Consumer Behavior - Despite a trend of consumption downgrade, consumers are increasingly prioritizing quality and safety in essential products like pipes and waterproofing [3] Group 9: Accounts Receivable - The company maintains a good situation regarding accounts receivable, emphasizing cash flow management [3]