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According to the Beijing News, Dehua Tubaobao Decorative New Materials Co., Ltd. ("Tubaobao" for short) recently released an investor relations activity record sheet stating that in the face of a market environment where home improvement consumption is under pressure and demand is weakening, the company's decorative materials business this year has continued to focus on channel operations. In order to cope with changes in market demand, the company established a professional channel operation company and operation center last year. At the same time, it also put forward management requirements for the sales team and dealer team to support, increase and replace merchants.

In terms of channels, the Easy Installation and Engineering businesses have set up operating companies to re-establish their organizational structures, build independent teams, independent merchants, and independent product systems; the furniture factory channels continue to exert their strength, and the township stores adhere to the concept of the faster the better. Last year, more than 700 stores were recruited, and this year 1,000 stores are planned to be built. After the retail channel removes the township channel business volume, the store's board business volume will decline, which has accelerated the transformation of the store, from providing board to basic customization business, and can also increase board processing, supporting and service costs in addition to board trading.

The announcement also mentioned that the company has updated its product system for towns and furniture factories this year, using products with more cost-effective advantages to seize the market. In the short term, the company will still focus on market growth. In terms of profit margin, it can give full play to the marginal benefits of a board, and provide supporting board edge banding and hardware; the town market can be supplemented with supporting floor and wooden door products.

Edited by Zheng Mingzhu

Proofreading to Fu Chunyin