Group 1: Financial Performance - In Q1 2025, the company achieved a revenue of 763 million CNY, representing a year-on-year increase of 31.35% and a quarter-on-quarter increase of 0.53% [1] - The net profit attributable to shareholders was 87.19 million CNY, showing a year-on-year growth of 92.63% and a quarter-on-quarter increase of 38.64% [1] - The gross profit margin improved to 61.78% in Q1 2025, with a quarter-on-quarter increase of 13.62% [1] Group 2: Product Pricing and Sales - In Q1 2025, the prices of thermoplastic and wind power-related products saw a slight increase, while other fiberglass products maintained stable pricing [1] - The sales volume of fiberglass reached approximately 97,000 tons, while resin sales were around 14,000 tons [1] Group 3: Capacity and Production Planning - The company is currently focused on digesting new production capacity, with future capacity planning to be arranged based on market demand and order growth [2] - There is an expectation of cost reduction due to lower energy consumption from new kilns and the anticipated production of a self-built powder plant within the year [2] - The company plans to gradually increase the supply of fiberglass fabrics and non-woven products in the future [2] Group 4: Market Outlook and Strategic Focus - The company anticipates that product prices will be influenced by macroeconomic conditions and market supply-demand dynamics, making predictions challenging [2] - The application of chopped mats in traditional automotive markets remains stable, while growth is notable in the new energy vehicle sector, with an expected increase in penetration rates [2] - The decision regarding the adjustment of convertible bond conversion prices will be made cautiously, considering the company's operational status and market conditions [2]