WEIXING NBM(SZ:002372)2024-02-03 08:52Product Overview - The company's main products are various types of new plastic pipes, categorized into three series: PPR for gas, heating, and drainage; PE for municipal water supply; and PVC for drainage and electrical sheath applications [2]. - The company is actively expanding into waterproofing and water purification businesses under its "concentric circle" strategy [2]. Sales Channels - The primary sales channels for retail business are home decoration companies, project managers, and direct purchases by homeowners, with variations in proportions across different regions [2]. Growth Strategy - In the next 3-5 years, the company aims to increase market share and expand product categories to drive steady growth, focusing on expanding in underdeveloped markets and deepening channels in mature markets [2]. - The company will continue to prioritize high-quality development in engineering projects, selecting clients and projects carefully while exploring new fields [2]. Accounts Receivable - The company's accounts receivable situation for engineering business in 2023 is reported to be generally healthy [3]. Star Housekeeper Service - The "Star Housekeeper" service, a pioneering initiative in the industry, aims to provide reliable pipeline systems and reduce installation risks through various measures, including product authenticity verification and high-pressure testing [3]. Consumer Acceptance - Despite the higher pricing of products, consumers are increasingly willing to choose high-quality brands due to a growing awareness of safety in concealed engineering, with the overall cost being a small fraction of total renovation expenses [3]. International Business - Currently, overseas business revenue is relatively low, focusing on foundational work for internationalization, including the establishment of production bases and sales markets [3]. Pricing Strategy - The pricing of retail products generally follows a cost-plus principle, with the pricing system remaining stable [3]. Impact of Special National Bonds - The "1 trillion special national bonds" primarily target water conservancy facilities and disaster recovery, with limited immediate impact on the company's municipal engineering business [3]. Market Expansion - Market expansion strategies must be tailored to regional consumption habits, philosophies, and competitive landscapes, requiring adaptability [3]. 2024 Performance Guidance - The company's operational planning and targets for 2024 are still under discussion, with relevant indicators to be disclosed in the 2023 annual report [4].