WEIXING NBM(SZ:002372)2024-11-02 03:31Financial Performance - In Q3 2024, the company achieved operating revenue of 1.43 billion CNY, a decrease of 5.24% compared to the same period last year [1] - Net profit attributable to shareholders was 284 million CNY, down 25.27% year-on-year [1] - For the first nine months of 2024, operating revenue reached 3.773 billion CNY, an increase of 0.71% year-on-year [1] - Net profit attributable to shareholders for the first nine months was 624 million CNY, a decline of 28.64% compared to the previous year [1] Business Highlights - The company maintained a resilient sales revenue despite external demand shrinkage and intensified market competition [2] - Profitability remained relatively stable, reflecting strong competitiveness [2] - Cash flow remained consistently good, with no increase in accounts receivable after excluding the impact of consolidating Zhejiang Kairui [2] Strategic Challenges - There is a significant gap between actual sales revenue and the targets set at the beginning of the year [2] - The pace of expanding the "concentric circle" business and upgrading the business model is slower than expected [2] - The company plans to enhance strategic execution and market expansion efforts to promote sustainable and stable development [2] Sales Composition - The sales revenue ratio of retail to engineering business is approximately 68% to 32% [3] Market Trends - The market demand for the company's various businesses remains relatively weak [3] - The proportion of renovation projects for second-hand houses is gradually increasing, although new house renovations still dominate the market [3] Future Outlook - The company will continue to monitor market demand and adjust products and services accordingly [3] - There is a focus on improving cost control and ensuring that the expense ratio remains at a reasonable level [3] - The company maintains a stable dividend policy and will propose profit distribution plans based on various factors [3]