Monalisa(002918)2022-11-21 15:40Financial Performance - Revenue for the first nine months of 2021 reached 4.927 billion CNY, a year-on-year increase of 47.69% [1] - Compared to 2019, the compound annual growth rate (CAGR) is 33% [1] - Q3 revenue grew by 19.25% year-on-year [1] - Net profit for the first nine months was 417 million CNY, a year-on-year increase of 10.07% [2] - Q3 net profit decreased by 16.87% year-on-year [2] Market Growth - C-end revenue grew approximately 38% in the first nine months, while B-end revenue increased by about 60% [1] - The company added 260 new distributors and 370 new specialty stores in the first nine months [1] - The company has established partnerships with around 100 top real estate clients, ensuring a balanced client portfolio [2] Cost and Pricing Challenges - The gross profit margin declined due to rising material and energy costs, with raw material prices increasing by 23% and coal prices by 65% year-on-year [2] - The company has adjusted prices for a few products but cannot fully offset the impact of rising raw material costs [3] Industry Outlook - The tightening of mortgage financing has impacted the real estate industry, but there remains market space for both new and second-hand properties [2] - The company is cautious about collaborating with real estate firms that have reached the "three red lines" due to rising raw material prices [2] Supply Chain and Production - The company operates four production bases with a total of 37 production lines; some lines in Guangxi were temporarily shut down due to power restrictions [3] - The company is implementing measures to manage power usage and has resumed production in Guangxi as power supply stabilizes [3] Environmental Initiatives - The company is actively participating in carbon neutrality initiatives and has been recognized as a "notable contributor to pollution reduction and carbon reduction" in Guangdong Province [4] - Plans to establish a carbon neutrality committee and implement measures to control carbon emissions are underway [4]