LXBY(002884)2023-06-09 11:11Group 1: Company Overview - Guangdong Lingxiao Pump Industry Co., Ltd. specializes in the research, design, production, and sales of civil centrifugal pumps, including plastic bathroom pumps, stainless steel pumps, clean water pumps, submersible pumps, and pipeline pumps [2]. - The company is one of the largest suppliers of water sports and bathroom pumps in China, providing a complete service system that integrates design, production, sales, and after-sales service [2]. Group 2: Financial Performance - In the first quarter of 2023, the company reported a significant decline in both revenue and profit compared to the previous year, primarily due to a high inventory base from Q1 2022 and a soft demand influenced by the economic environment [2]. - The decline in performance was exacerbated by the absence of last year's inventory orders, leading to a substantial drop in sales [2]. Group 3: Market Insights - The company is focused on solidifying its core business to strengthen its market position and ultimately reward shareholders for their support and trust [2]. - The Q1 2023 financial results reflect the challenges faced in the market, highlighting the need for adaptive strategies in response to economic fluctuations [2].