伟星新材(002372) - 2025年4月29日投资者关系活动记录表

Group 1: External Environment - The global economic growth is insufficient, with rising unilateralism and protectionism, leading to increased uncertainty in international trade and geopolitical conflicts [3] - The domestic economy is stable overall, but faces challenges such as insufficient effective demand, weak consumption, and investment [3] Group 2: Company Performance Overview - In 2024, the company achieved revenue of 6.267 billion CNY, a decrease of 1.75% year-on-year, and a net profit of 0.953 billion CNY, down 33.49% [4] - The decline in profit is attributed to increased marketing expenses (116.71 million CNY), reduced investment income from joint ventures (166.94 million CNY), and increased goodwill impairment (73.97 million CNY) [4] Group 3: Key Initiatives for 2024 - Focus on retail business to strengthen market presence and adapt to changes [5] - Enhance risk control and quality in engineering business [5] - Accelerate internationalization and improve brand image [5] Group 4: Highlights and Shortcomings of the Annual Report - Sales revenue remained relatively stable despite market challenges, with retail business showing resilience [6] - The company maintained a high return on equity compared to peers, and effectively controlled accounts receivable and cash flow [6] - Shortcomings include a decline in market prices and gross margins, slow transformation in engineering business, and ongoing adjustments in the water purification business model [6] Group 5: 2025 Development Plan - The company aims for a revenue target of 6.580 billion CNY in 2025, with a cost control target of around 5.350 billion CNY [8] - Strategic focus on sustainable development and high-quality growth, with an emphasis on retail and engineering business improvements [8] Group 6: Market and Competitive Landscape - The company’s PPR business maintained stable gross margins through product upgrades and service combinations [9] - The competitive landscape remains intense due to the influx of engineering competitors into the retail market and ongoing price wars [11] Group 7: Future Outlook and Challenges - The company acknowledges the difficulty in achieving a 5% revenue growth target in 2025 due to a challenging external environment [9] - Plans to control sales expenses while maintaining necessary investments in brand promotion and market development [12]