C&S(SZ:002511)2025-05-07 09:32Industry Overview - The Chinese household paper industry has been steadily expanding, with consumption increasing year by year [2][3] - The industry is experiencing a gradual elimination of outdated production capacity, leading to a rise in market concentration [2][3] - Advanced technologies and equipment are being widely adopted, enhancing product quality and diversifying functionalities [2][3] Company Performance - In 2024, the company achieved a sales revenue of CNY 8.151 billion, but faced pressure on profit margins due to intensified market competition [4] - The overall gross margin decreased year-on-year, resulting in a net profit of CNY 77.18 million attributable to shareholders [4] Future Growth Drivers - The company aims to strengthen brand building and quality assurance, positioning itself as a leading brand in high-end household paper [3][4] - Focus on optimizing product structure, with a strategic emphasis on high-end, high-margin non-traditional products [4] - Plans to diversify into related categories such as personal care, health products, and home cleaning, fostering additional growth avenues [4]