DOJJ(002798)2022-11-19 03:42Group 1: Company Performance Overview - In 2021, the company achieved operating revenue of 6.147 billion yuan, a year-on-year increase of 9.05% [1] - The net profit for 2021 was 69 million yuan [2] - The gross profit margin decreased due to significant increases in energy and raw material prices [1] Group 2: Strategic Adjustments - The company adjusted its customer structure, increasing the proportion of small B customers from 30% to nearly 40% in 2021 [2] - The bathroom business saw a 64% year-on-year revenue growth, benefiting from product iterations and network expansions [2] - The company launched new high-end tile series to enhance product competitiveness [2] Group 3: Production and Environmental Initiatives - In 2021, the company completed a leading double-layer kiln production line in its Foshan base and initiated construction in Guangxi [2] - The company is developing advanced zero-carbon combustion technology in collaboration with local laboratories to meet carbon reduction goals [3] Group 4: Market Challenges and Future Outlook - The company anticipates continued pressure in 2022 due to high upstream energy prices and uncertainties in the real estate market [3] - Despite challenges, the company remains optimistic about the bathroom segment's revenue growth in 2022 [3] - The company plans to maintain its high-quality development strategy while navigating market fluctuations [4] Group 5: Pricing and Cost Management - In 2021, the company implemented two price increases of approximately 5% each due to rising costs [4] - The industry is currently experiencing a slowdown in price increases due to reduced market demand and the impact of the pandemic [5] - Long-term price increases are expected as costs and environmental regulations tighten [5] Group 6: Industry Trends and Barriers to Entry - The industry is seeing increased entry barriers, including stricter investment policies and higher capital requirements [6] - The market concentration is expected to rise as smaller players struggle to compete with larger companies [6]