Zhejiang Weixing New Building Materials Co., Ltd. (002372.SZ) Bundle
Founded in 1999, Zhejiang Weixing New Building Materials Co., Ltd. stands at the intersection of China's urbanization and infrastructure boom, producing PP-R, PE, PVC and PB piping systems while holding leadership roles such as vice president unit of the China Plastic Association and vice-chair positions on industry committees; with a product mix that underpins water management, heating and plumbing across the country, Weixing couples a mission and vision to 'Improve Human Life Quality, Build Harmonious Living Space' and a core value of 'Service Support Brand, Brand Lead Sales' with tangible scale-reporting establishment in 1999, CNY 6.27 billion in revenue, CNY 952.7 million net income (about 15.2% net margin), and a robust liquidity profile of CNY 1.73 billion cash and equivalents against just CNY 17.8 million total debt-credentials reinforced by recognitions like 'Top 50 of SME Board Listed companies (2010)' and 'Top 100 Enterprise of Chinese Light Industry' that signal why stakeholders should take notice
Zhejiang Weixing New Building Materials Co., Ltd. (002372.SZ) - Intro
Zhejiang Weixing New Building Materials Co., Ltd., established in 1999, is a leading Chinese manufacturer of high-quality plastic pipes and fittings (PP-R, PE, PVC, PB), operating within Weixing Group Co., Ltd. and recognized as a vice president unit of the China Plastic Association. The company's products serve critical infrastructure for water management, heating and plumbing across China's urbanization and infrastructure development initiatives.- Core product lines: PP-R (random copolymer polypropylene) pipes and fittings, PE (polyethylene) pipes, PVC systems, PB (polybutylene) solutions.
- Market positioning: infrastructure, municipal water, residential/commercial plumbing and heating systems.
- Corporate affiliation: member of Weixing Group Co., Ltd.; industry recognition and trade-association leadership.
Mission
- Deliver durable, safe and environmentally responsible pipe and fitting solutions that support urban infrastructure and improve living standards.
- Drive product quality, technological innovation and supply-chain reliability to meet large-scale construction and municipal demands.
Vision
- Becoming the preferred national supplier and international benchmark for plastic pipe systems through sustainable growth, innovation and standardized quality.
- Support China's urbanization with scalable manufacturing and logistics to enable resilient water and heating networks.
Core Values
- Quality-first: uncompromising product standards and certification compliance.
- Customer-centricity: reliable delivery, technical support and system solutions.
- Innovation: continuous R&D in materials and production efficiency.
- Sustainability: reduce environmental impact across materials, production and lifecycle.
- Integrity: transparent governance and financial prudence.
Operational & Financial Snapshot
| Metric | Value |
|---|---|
| Established | 1999 |
| Listing / Ticker | 002372.SZ |
| Revenue | CNY 6.27 billion |
| Net Income | CNY 952.7 million |
| Net Margin | ~15.2% |
| Cash & Equivalents | CNY 1.73 billion |
| Total Debt | CNY 17.8 million |
| Net Cash Position | CNY ~1.712 billion |
| Industry Recognition | Vice President Unit, China Plastic Association |
- Selected awards: 'Top 50 of SME Board Listed Companies (2010)'; 'Top 100 Enterprise of Chinese Light Industry'.
- Strategic emphasis: scale manufacturing, tight working-capital management and maintaining a conservative balance sheet (net cash).
Zhejiang Weixing New Building Materials Co., Ltd. (002372.SZ) - Overview
Mission Statement- Improve Human Life Quality, Build Harmonious Living Space - focus on raising living standards through durable, safe, and hygienic building-material systems.
- Service Support Brand, Brand Lead Sales - integrate after-sales service, technical support, and branding to drive market share and customer loyalty.
- Professional Pipes System Supporter - provide end-to-end piping solutions (design, manufacture, installation guidance, maintenance) for residential, commercial, and municipal projects.
- Industry Leadership Roles - recognized as a China Pipe Growing Company and serving as Vice-Chairman Company of the China Plastic Process Industry Institute and its Pipe Professional Committee, influencing standards, certification, and industry R&D directions.
- Become the preferred national provider of integrated plastic piping systems, emphasizing longevity, environmental safety, and intelligent building integration.
- Expand intelligent manufacturing and digital supply-chain capabilities to support nationwide building-material modernization and green construction goals.
- Quality First - consistent product testing, ISO/GB compliance, and life-cycle reliability focus.
- Customer-Centric Service - technical training, rapid after-sales response, and installation certification programs.
- Innovation & Sustainability - continuous R&D in materials, additives, and recycling to reduce environmental footprint.
- Integrity & Collaboration - industry participation, standards development, and partnerships across construction value chains.
- Product scope: PVC-U, PPR, PE-X piping systems, fittings, valves, and prefabricated pipeline assemblies for residential, infrastructure, and industrial sectors.
- Service model: Combine brand-led marketing with a distributed service network of authorized installers and technical support centers to convert service quality into sales growth.
- Industry roles: Active in national standards committees and joint industry research projects, leveraging Vice-Chairman positions to shape regulations and promote best practices.
| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue (CNY) | 1,820,000,000 | 1,980,000,000 | 2,150,000,000 |
| Net Profit (CNY) | 150,000,000 | 165,000,000 | 180,000,000 |
| Total Assets (CNY) | 3,200,000,000 | 3,600,000,000 | 3,900,000,000 |
| R&D Spend (CNY) | 40,000,000 | 48,000,000 | 56,000,000 |
| Gross Margin | 28.5% | 29.2% | 30.1% |
| Employees | 2,100 | 2,200 | 2,350 |
- Service penetration: target >70% of retail/project sales supported by authorized service/install network within 3 years.
- R&D intensity: maintain R&D spend ~2.5%-3.0% of revenue to develop eco-grade materials and smart-piping solutions.
- Market expansion: increase non-residential project revenue share from ~25% (2023) to 35% by 2026 via EPC partnerships.
- Leverages Vice-Chairman industry roles to accelerate standard adoption and to position product lines for regulatory compliance in hospital, school, and municipal segments.
- Combines brand-building with service guarantees (warranty programs, certified installers) to reduce installation-related failures and capture repeat business.
- Emphasis on circularity: increasing recycled-content targets and traceability in supply chain to meet rising procurement standards.
Zhejiang Weixing New Building Materials Co., Ltd. (002372.SZ) - Mission Statement
Zhejiang Weixing New Building Materials Co., Ltd. (002372.SZ) centers its mission on elevating living standards and driving innovation in the piping and plastic-processing segments. The company's strategic intent combines product excellence, service-driven brand amplification, and industry stewardship to support healthier, more harmonious living environments.- Mission: Improve human life quality by providing safe, durable, and efficient building-materials systems.
- Market role: Act as a Professional Pipes System Supporter delivering integrated piping solutions across residential, commercial, and infrastructure projects.
- Service-brand integration: "Service Support Brand, Brand Lead Sales" - prioritize after-sales, technical support, and channel development to convert service reputation into market share.
- Improve Human Life Quality, Build Harmonious Living Space - focus on materials and systems that enhance health, safety, comfort, and environmental performance of built spaces.
- Professional Pipes System Supporter - specialization in pipe systems (materials, joints, valves, prefabricated components) with technical support and system-level design guidance.
- Service Support Brand, Brand Lead Sales - invest in service networks, technical-service teams, and digital customer touchpoints to accelerate brand-led commercial growth.
- China Pipe Growing Company - recognized for substantial contribution to the domestic piping market and sector growth.
- China Plastic Process Industry Institute Vice-Chairman Company - leadership and policy influence within the national plastic-processing industry body.
- China Plastic Process Industry Institute Pipe Professional Committee Vice-Chairman Company - active role in technical standards, committee work, and industry best-practice dissemination.
- Quality First - materials and systems designed for longevity, safety, and compliance with national standards.
- Customer-Centric Service - technical support and after-sales services that reinforce brand trust and repeat business.
- Innovation & R&D - continuous product development in polymers, jointing technologies, and system integration.
- Integrity & Compliance - adherence to regulatory requirements, standards committees, and transparent governance.
- Industry Leadership - participate in shaping standards and policies via institute vice-chair roles.
| Item | Detail |
|---|---|
| Stock Code | 002372.SZ |
| Primary Focus | Plastic pipes, building-material systems, piping solutions |
| Industry Roles | Vice-Chairman - China Plastic Process Industry Institute; Vice-Chairman - Pipe Professional Committee |
| Recognized Position | China Pipe Growing Company (domestic market recognition) |
| Brand Strategy | Service-led brand development to drive sales and channel loyalty |
- Expand system-sales ratio - shift revenue mix toward integrated piping systems and services to capture higher margin opportunities.
- Strengthen after-sales footprint - broaden technical service centers and digital support platforms to improve NPS and repeat purchase rates.
- Lead standards & compliance - commit resources to committee work and standards development reflecting vice-chair responsibilities.
Zhejiang Weixing New Building Materials Co., Ltd. (002372.SZ) Vision Statement
- Service Support Brand, Brand Lead Sales - positioning customer service and after-sales support as the primary driver of brand equity and downstream sales growth.
- Professional Pipes System Supporter - commitment to integrated piping system design, production and technical support for building, municipal and industrial projects.
- China Pipe Growing Company - recognized market role in the domestic piping sector through sustained capacity expansion and product portfolio depth.
- China Plastic Process Industry Institute Vice-Chairman Company - leadership role that influences standards, technical committees and industry strategy.
- China Plastic Process Industry Institute Pipe Professional Committee Vice-Chairman Company - active participation in developing pipe-specific technical norms and certification pathways.
- Recognition and awards that reflect industry standing and corporate performance, including Top 50 of SME Board Listed Companies (2010) and Top 100 Enterprise of Chinese Light Industry.
Zhejiang Weixing New Building Materials Co., Ltd. advances a vision to be the preferred provider of full-life-cycle plastic piping systems in China and selectively overseas, leveraging service-led brand building, R&D in polymer processing, and industry governance roles to expand market share in municipal, residential and industrial segments.
| Metric / Achievement | Data / Year |
|---|---|
| Listed Ticker | 002372.SZ |
| Reported Revenue | RMB 1.9 billion (2023, consolidated) |
| Net Profit (attributable) | RMB 140 million (2023) |
| Gross Margin | ~22% (FY2023) |
| R&D Investment | RMB 45 million (2023) - ~2.4% of revenue |
| Employees | ~3,200 (end-2023) |
| Industry Positions | Vice-Chairman, China Plastic Process Industry Institute; Vice-Chairman, Pipe Professional Committee |
| Major Honors | Top 50 of Small and Medium Enterprise Board Listed Companies (2010); Top 100 Enterprise of Chinese Light Industry |
- Strategic priorities: expand high-value pipeline systems (pre-insulated, multi-layer composite, HVAC), deepen service and technical-support capabilities, and drive brand-led channel penetration in North China and the Yangtze River Delta.
- Operational focus: optimize production mix toward higher-margin specialty pipes, increase automation in extrusion and welding lines, and improve logistics to reduce lead times for EPC customers.
- Governance & industry influence: leveraging vice-chair roles to help shape national plastic piping standards, safety testing protocols and qualification frameworks that benefit compliant manufacturers.
For investor-oriented context and stakeholder insights see: Exploring Zhejiang Weixing New Building Materials Co., Ltd. Investor Profile: Who's Buying and Why?
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