WEIXING NBM(SZ:002372)2024-03-11 03:24Group 1: Company Performance and Strategy - The company aims to maintain steady growth in 2024, with specific operational targets to be disclosed in the 2023 annual report [2] - The retail business's main sales channels are home decoration companies, project managers, and direct purchases by homeowners, with an increasing proportion of sales through home decoration companies [2] - The company plans to enhance market share, expand product categories, and upgrade its business model to improve core competitiveness [2] Group 2: Financial Metrics and Market Conditions - The gross profit margin in Q4 2023 improved due to lower raw material costs, stable pricing in retail, and a higher proportion of retail business [3] - The company has over 1,000 first-level distributors and approximately 30,000 terminal marketing outlets, indicating a stable distribution network [3] - The real estate sector is expected to remain weak in 2024, impacting the company's related business, although the demand for renovations remains significant [3] Group 3: International Strategy and Product Offerings - The company's international strategy is in the early stages, focusing on building marketing systems, production bases, and cultivating international teams [3] - The core product line includes PPR products and related accessories, as well as new categories like waterproofing and water purification [3] - The competitive landscape is shifting towards brand competition, with increasing industry concentration as smaller companies face challenges [4]