Group 1: Company Performance and Financials - The company's revenue for 2024 was 330.25 million, a decrease of 26.52% year-on-year [13] - The net profit attributable to shareholders for 2024 was 37.05 million, down 55.57% year-on-year [13] - In Q1 2025, the company reported a net profit of 5.22 million, a decline of 72.84% compared to the previous year [9] Group 2: Market Challenges and Industry Conditions - The implementation of the new national standard for electric bicycles in 2019 led to increased market concentration, affecting smaller companies [3] - The market has shifted to a stock competition phase, causing a temporary reduction in demand for electric two-wheelers [4] - A fire incident in Nanjing in March 2024 raised safety concerns, leading to government inspections and a short-term decrease in market demand [10] Group 3: Strategic Responses and Future Outlook - The company plans to focus on core business development and increase investment in independent research and development [12] - The management aims to leverage upstream packaging business to enhance product stability and reduce costs [14] - The company is optimistic about future growth opportunities with the upcoming release of the revised national standard and related policies [12]