Group 1 - The company held an online meeting on September 1, 2025, with six institutions including Guojin Securities and Dongxing Securities to discuss product competitive advantages, acquisition integration, and cost response strategies [1] - The company has a comprehensive product line covering the entire thermal transfer ribbon field, with significant competitive advantages in product variety, performance, cost, and customer service [1] - The company’s products meet high precision and readability requirements for barcode identification, making them competitive in various downstream application industries [1] Group 2 - The company is progressing with the integration of acquired companies CALOR from Germany and RTT from France, focusing on product technology synergy, core team integration, and market resource sharing [2] - The integration aims to enhance the product matrix by leveraging the acquired companies' expertise in color ribbon formulation and production processes, while also expanding market share in Europe [2] Group 3 - In the first half of 2025, the company faced rising raw material prices for its main product, thermal transfer ribbons, including polyester film and wax [3] - The company is optimizing its product structure to enhance added value and is leveraging its cost advantages through innovations in technology, sales, production, and management to stabilize gross margin levels [3]