西南证券发布瑞尔特研报，需求端仍然偏弱，持续优化渠道变革

Group 1 - The gross margin is under pressure due to a decline in product prices, impacting profitability [1] - Domestic OEM business is a drag on performance, while overseas operations remain relatively stable [1] - Focus on product innovation, with attention to the competitive landscape improvement following the implementation of 3C certification [1]