WEIXING(002003)2025-01-18 04:00Group 1: Operational Performance - The Vietnam industrial park was established in March 2024, with limited orders and expected losses for the year due to initial focus on customer inspections and employee training [1] - The Bangladesh industrial park continues to show growth, but is undergoing technological upgrades to improve production levels [1] Group 2: Market Share and Product Structure - The company's market share in the zipper business is relatively small due to a lack of comprehensive industry statistics [1] - In terms of product structure, nylon zippers account for the highest proportion, while plastic and metal zippers are roughly equal [1] Group 3: Business Segmentation - As per the 2024 semi-annual report, the button business accounted for 40.39% and the zipper business accounted for 54.82% of total revenue [2] - The company leverages product diversity, fashionability, innovation, and rapid market response to enhance customer share [2] Group 4: Production and Profitability - The current proportion of fast-response orders is lower compared to futures orders, but the company is enhancing production efficiency through smart manufacturing strategies [2] - Future gross margin trends will be influenced by raw material costs, product structure, and scale effects, with a focus on sustainable profit levels [2] Group 5: Dividend Policy and Capacity - The company adheres to a sustainable development philosophy in its annual profit distribution, considering profitability and shareholder interests [2] - With the construction of overseas production bases, the company expects an increase in overseas capacity, but domestic capacity will remain dominant in the short term [2]