Group 1: Company Overview and Competitive Advantage - The company has over 30 years of experience in the mica insulation materials industry and operates eight supporting factories across the entire industrial chain, maximizing cost advantages and enhancing product competitiveness [2][3] - The company positions itself as a materials-oriented product company, committed to contributing to the safe development of electricity and heat for humanity [2] Group 2: Profitability and Market Position - The gross margin for overseas sales is significantly higher than that of domestic sales due to established brand reputation and higher quality requirements for foreign products [3] - The company maintains a competitive edge in foreign markets, with a focus on mid-to-high-end products, which are expected to sustain higher gross margins in the long term [3] Group 3: Strategic Development and Technological Innovation - The company aims to contribute to global electric heating safety by focusing on high-temperature insulation material R&D and expanding into emerging fields such as solid-state batteries and deep-sea technology [4][5] - The company is enhancing its global supply chain integration and aims to become a leading provider of safe insulation system solutions [4] Group 4: Impact of External Factors - The company’s export sales ratio is increasing, reflecting recognition of product quality and market competitiveness, with minimal direct impact from tariffs currently assessed [5] - The company is expanding its overseas production capacity, particularly in Southeast Asia, to better serve global customers and adapt to market demands [5] Group 5: Future Plans and Shareholder Engagement - The company is considering stock incentive plans based on operational needs and is exploring diverse employee incentive mechanisms [6] - The company plans to distribute dividends within two months following the approval of the profit distribution proposal at the 2024 annual shareholders' meeting [6] Group 6: Regulatory Changes and Opportunities - The new battery safety regulations, deemed the "strictest ever," will drive technological upgrades and reshape the electric vehicle supply chain, emphasizing safety as a core requirement [6] - The company is developing a comprehensive solution for thermal runaway protection in electric vehicles, aiming for a multi-level safety approach [6]