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The stone industry is currently experiencing a significant downturn, a reality that cannot be ignored. The world's largest stone production base is going through its most challenging phase. Most of the manufacturing and processing companies are slowing down, sales are declining, and some businesses are even facing bankruptcy. Both manufacturers and distributors are hoping for an early end to this "cold season" in the industry, with many believing that a new era is on the horizon.
Looking at the domestic economic environment, especially the real estate sector, it's clear that the stone industry will face continued challenges. Based on current trends and market conditions, the first half of 2013 is expected to be even colder than the previous year. Although there were some signs of growth at the end of 2012, only those companies implementing brand agency systems—especially those producing composite boards—were able to avoid the negative impact of the real estate slowdown. These companies actually saw a surge in production and sales, creating their own "springtime" in the industry. However, the majority of enterprises and dealers are still struggling.
The government’s effective regulation of the real estate market began in the second half of 2012, and its impact on the stone industry typically takes six months to a year to fully materialize. This means that the projects being handled by stone companies in 2013 are largely based on real estate developments from 2012. With real estate policies not easing, and developers unable to secure land in the first half of 2012, the situation will become more evident in the second half of the year. As a result, the first half of 2013 is likely to be even more difficult, with companies facing a lack of projects and orders. Even if the overall environment improves, if developers are not actively building, the situation will remain serious.
The real estate market crash has accelerated the redistribution of stone market resources. The “shuffling†within the industry is a natural outcome of its development stage, but the decline in real estate activity has sped up this process. In 2008, during the global financial crisis, many stone companies closed down, just like other industries. The government introduced stimulus measures, which created a valuable opportunity for the industry to adjust and grow. However, the industry failed to make meaningful improvements, leading to a sharp increase in the number of companies and intensified competition. Now, as total stone demand declines, the industry is entering another round of restructuring.
In times of crisis, securing cash flow should be the top priority. All stone enterprises must rethink their strategies and adapt quickly to survive. For example, our company, Wanli Stone Group, has maintained a strong performance this year. Sales and tax payments have significantly increased compared to the same period last year. This success comes from the strategic adjustments we've made this year.
Brand agency and customization are two key approaches for the industry to move out of the "winter." While brand agency is a growing trend, the nature of the stone industry requires flexibility. Some sectors, like ceramics or sanitary ware, can benefit from branding, but for non-standardized and personalized products like stone, traditional channels may still play a crucial role.
Previously, we focused heavily on sales, but this year, we shifted our attention to securing payments and prioritizing financial safety. On the international front, we're targeting emerging markets, particularly the rapidly growing ASEAN region. Domestically, we're focusing on central and western China, where the "Central Rise" and "Western Development" policies provide support. These areas are less affected by real estate regulations and have more infrastructure projects than the heavily regulated eastern coastal regions.
Many people say that standardizing the stone industry is extremely difficult. This is because stone is a natural resource, and its consistency and stability are not as reliable as other materials. For example, ceramic tiles can be mass-produced in large quantities with consistent quality, but in the stone industry, achieving large-scale production with uniformity is much harder. Standardization is challenging due to the natural variability of stone, but this very characteristic is what gives it its unique charm.
Industry experts believe that standardization and customization can coexist. Low-end products with minimal color variation can be standardized and easily accepted by customers. High-end customers, however, tend to prefer customized options with more unique features. As the industry evolves, balancing these two approaches will be essential for long-term success.