伟星新材(002372) - 2025年12月2日投资者关系活动记录表

Group 1: Market Demand and Business Outlook - The current market demand remains relatively weak [2] - For the engineering business, 2026 is expected to see more proactive policies as it marks the beginning of the "14th Five-Year Plan," but the company maintains a cautious outlook [2] - The company is focused on transformation and quality improvement, emphasizing technological marketing and service innovation to enhance operational quality [2] Group 2: Industry Competition and Pricing - The competitive landscape in the plastic pipe industry is stable, with an accelerated exit of small and medium enterprises, leading to increased industry concentration [2] - The price war in the industry remains intense, but the company is committed to a "high positioning" and "win-win" philosophy, enhancing core competitiveness through product and service quality [2] Group 3: Product and Financial Management - The company's products, such as pipes and waterproof materials, are essential functional products with a low cost relative to total renovation expenses, and consumers are increasingly prioritizing quality and service [3] - The company maintains strict control over accounts receivable, resulting in a favorable accounts receivable situation [3] - The waterproof business is developing healthily, while the water purification business model is undergoing optimization [3] Group 4: International Strategy and Incentives - The company's overseas business currently has a low proportion but plans to accelerate international strategic layout and implementation [3] - The company will continue to implement stock incentive plans to motivate key personnel and promote win-win development between employees and the company [3] Group 5: Dividend Policy - The company's dividend policy is stable and transparent, with an average dividend payout ratio of 70-80% since its listing, and it will continue to follow its articles of association and shareholder return plan [3]