SFY(002572)2025-02-07 11:02Group 1: Financial Performance - The company's net profit for 2024 is projected to be between 132,434.17 and 145,046.95 million CNY, representing a year-on-year growth of 5% to 15% [2] - The net profit after deducting non-recurring gains and losses is expected to be between 102,115.43 and 113,461.59 million CNY [2] - The anticipated operating revenue for 2024 is between 1,049,908.18 and 1,166,564.64 million CNY [2] Group 2: Market Environment and Challenges - The company faces short-term challenges due to the slowing growth of custom furniture enterprises influenced by the real estate cycle and intensified market competition [2] - However, the implementation of government policies supporting consumer goods replacement is expected to revive demand in the home furnishing industry [2] Group 3: Overseas Expansion - The company is enhancing its overseas channel development, currently having 31 overseas distributors covering countries such as the USA, Canada, Australia, Singapore, Vietnam, and Thailand [3] - It collaborates with overseas developers and contractors to provide one-stop customized home solutions to clients in approximately 40 countries and regions [3] Group 4: Marketing and Sales Strategy - The company is actively responding to market changes by adjusting its marketing strategies to participate in the "old-for-new" subsidy policies [7] - It utilizes big data analysis and customer interest profiling to maintain stable overall marketing expenses [7] Group 5: Future Outlook and Policies - The company emphasizes stable cash dividends and will continue to communicate with shareholders while responding to regulatory policies [5] - It plans to actively promote the "old-for-new" subsidy activities and create benchmark cases for distributors [6] Group 6: Brand Development - The main brand focuses on integrated marketing strategies to enhance various product categories and increase average transaction value [8] - New brands are expanding their market presence, while mid-to-high-end brands are transitioning to a whole-home customization model [8]