Group 1: Business Performance - The main business revenue for the electrical contact and functional composite materials segment reached 2.377 billion CNY in 2024, a year-on-year increase of 17.04% [4] - The hard alloy segment achieved a revenue of 319 million CNY, growing by 58.24% compared to the previous year [4] - The copper foil segment reported a revenue of 159 million CNY, marking a significant increase of 119.17% year-on-year [4] Group 2: Product Development and Market Expansion - The company has successfully developed high-performance Ag/WC composite contact materials, which have been recognized in the market and are now in batch or small batch sales [3] - The lithium battery copper foil products are primarily produced by Jiangxi Hongfeng Copper Foil, contributing significantly to the revenue [4] - The company plans to continue increasing R&D investment in data centers and new energy sectors to enhance product offerings and market share [2] Group 3: Financial Management and Future Outlook - The company reported a comprehensive income of -107.4 million CNY for 2024, with measures in place to improve profitability and enhance earnings per share [5] - The company aims to reduce financial expenses through improved cash flow management and inventory reduction strategies [5] - The company is exploring the possibility of independent listings for its segments, particularly hard alloys and lithium battery copper foil, to unlock their value [8] Group 4: Investor Relations and Market Perception - The current market capitalization of the company is 2.37 billion CNY, with potential for higher valuations if segments are independently listed [8] - The management emphasizes the importance of enhancing corporate value and maintaining communication with investors to build market confidence [8] - The company is actively addressing concerns regarding its stock price, which has remained stagnant between 5 to 6 CNY, by focusing on operational improvements and market engagement [8]