WEIXING NBM(002372)2025-04-30 11:40Group 1: Retail Business Performance - The retail business sales revenue in Q1 2025 decreased year-on-year due to a high base in 2024 and overall weak market demand [2] - The company emphasizes a "three high" positioning to stabilize the pricing system, impacting some market sales [2] - The demand for retail business is closely linked to economic conditions, with rigid demand less affected while improvement demand is suppressed [2] Group 2: Industry Competition - The plastic pipe industry remains highly competitive, with intensified competition among brand enterprises and difficulties for small and medium-sized companies [2] - Industry concentration is continuously increasing as weaker players are eliminated [2] Group 3: Business Development and Strategy - The waterproof business saw a slight decline in sales revenue, but brand influence is gradually increasing, with a good growth in service households [3] - The water purification business is in a phase of adjustment and optimization, focusing on organizational change and product innovation [3] - The company will enhance integration with acquired companies to improve operational quality [3] Group 4: Pricing and Market Strategy - The retail business stabilizes pricing through product and service enhancement, while engineering business pricing is market-driven [3] - The company maintains a stable and transparent dividend policy, considering various factors for profit distribution [3] Group 5: Market Potential and Sales Channels - The company’s market share varies across regions, influenced by local consumption habits and economic development [3] - The main sales channels for retail business include home decoration companies, project managers, and self-purchasing by homeowners, with a growing share from home decoration companies in first and second-tier cities [4]