FSM(002818)2025-03-18 12:42Group 1: Company Performance and Financial Strategy - The company has no significant capital expenditures planned, maintaining a stable dividend policy [2][11] - In 2024, the company will continue to strengthen post-investment management to ensure investment returns and risk control [2][11] - The company has accumulated cash dividends exceeding 4.2 billion since its listing, ensuring shareholder returns despite financial investments [19] Group 2: Rental and Leasing Operations - The company implements a "graded pricing, one household one policy" leasing strategy to ensure stable rental income and prevent tenant loss [2][14][31] - The average rental income from the two main shopping centers has decreased compared to the best years, with ongoing efforts to stabilize rental rates [6][31] - The company is focused on maintaining a stable rental rate for the Tianfu project, which is currently in the leasing and operational phase [7][19] Group 3: Market Outlook and Growth Potential - The home improvement and building materials market has a scale exceeding 4-5 trillion annually, with evolving consumer demands driving new market opportunities [4][11] - The company is exploring new business models and diversifying its operations to adapt to changing market conditions and consumer preferences [4][14] - The Tianfu project is expected to enhance the company's revenue, although specific financial impacts will be disclosed in future reports [3][19] Group 4: Investment and Project Management - The company has diversified its investment strategies, including exiting certain projects based on market conditions [2][5] - The investment in Daqian Energy is based on long-term industry growth potential, despite recent challenges [11][19] - The Tianfu project is strategically significant for the company, enhancing its brand influence in the Sichuan region [16][19] Group 5: Economic and Industry Trends - The company acknowledges the impact of macroeconomic conditions on its operations, with a focus on adapting to market fluctuations [8][11] - The ongoing urbanization and housing policies are expected to create new opportunities for the home improvement market [9][11] - The company is committed to integrating new technologies and business models to enhance operational efficiency and market share [4][14]