Elegant(603221)2024-03-19 07:37Group 1: Market Overview - In 2022, the global sales volume of flooring materials was approximately 12.682 billion square meters, with ceramic flooring holding a dominant market share of about 58% and PVC flooring accounting for approximately 12% [2][3] - PVC flooring has been recognized in the market since the 1930s in the United States, making it the largest consumer market for PVC flooring globally [2] Group 2: Company Performance and Orders - The company reported that domestic factories are operating normally with sufficient orders, while the U.S. factory is in a ramp-up phase after obtaining its production license in June last year [3] - Specific performance data will be available in the company's Q1 report and announcements [3] Group 3: Production Capacity and Supply Chain - North American production capacity is not a substitute for domestic capacity; it complements it due to increasing supply chain security concerns [3] - The establishment of North American capacity helps meet overseas customer needs for supply chain diversification and mitigates supply chain risks, ensuring stability in domestic orders [3] Group 4: Reasons for Performance Improvement - The improvement in performance for Q2-Q3 2023 is primarily attributed to increased market demand [3] - The company's main product, WPC, is positioned in the mid-to-high-end market for home and commercial decoration, benefiting from a good reputation in the U.S. market [3] - Low raw material and logistics costs, along with a favorable RMB exchange rate, have also contributed to performance enhancement [3]