Group 1: Retail Channel Development - The company focuses on enhancing retail channel efficiency through the "store efficiency doubling project," which has shown significant improvements in pilot stores, leading to increased revenue from retail channels [1] - Future plans include expanding the project to cover more stores, aiming for broader promotion and sustained efficiency gains [1] Group 2: 2026 Business Strategy - The company will continue leveraging the store efficiency doubling project to drive growth in retail channels while replicating refined management practices across other channels for overall improvement [1] - A dual approach of product and sales enhancement will be implemented, focusing on flagship products to optimize sales structure and improve gross margins [1] - Internal management reforms and cost reduction efforts will be prioritized to enhance operational quality [1] Group 3: International Market Expansion - The company is committed to internationalization, increasing strategic investments in overseas markets while tailoring market strategies to local characteristics [2] - Collaborations with local distributors are being established to accelerate the setup of exclusive stores and sales networks, with several physical stores already opened in key overseas markets [2] - Online sales channels are being expanded through major overseas e-commerce platforms and brand partnerships, although overall overseas revenue has declined due to reduced exports to North America [2] - Future efforts will focus on brand building and channel expansion to ensure sustainable growth in international business [2]

Group 1: Retail Channel Development - The company focuses on refining retail channel operations, emphasizing the "store efficiency doubling project" to empower distributors and enhance retail revenue [1] - The project has shown significant improvements in store efficiency, with plans to expand from pilot stores to a broader range of outlets [1] Group 2: Operational Strategy - The company aims to drive overall channel growth through retail channel expansion while systematically exploring growth paths in engineering, home decoration, and e-commerce [1] - A dual approach of product and marketing strategies is being implemented to enhance product strength and optimize sales structure, which is expected to improve gross margins [1] Group 3: International Market Expansion - The company is actively pursuing international strategies, establishing partnerships with local distributors and expanding its store presence overseas [2] - Online sales are being boosted through overseas e-commerce platforms, although the contribution of international business to overall revenue remains low [2] Group 4: Impact of National Subsidy Policies - The company is leveraging national subsidy policies to optimize sales structure, which has positively impacted gross margins [2] - The clarity of subsidy policies influences operational strategies, but the ongoing refinement of management practices is deemed more critical [2]