Core Insights - During the "14th Five-Year Plan" period, Anhui's grain and oil industry has achieved a total output value exceeding 300 billion RMB, indicating a robust industrial structure and market dynamics [1][3]. Group 1: Industry Growth - Anhui's grain and oil processing industry ranks among the top in the country, with a processing output value increasing from 264 billion RMB in 2020 to 342 billion RMB in 2024, reflecting an annual growth rate of 6.7% [3]. - The processing capacity of Anhui's grain and oil enterprises is projected to reach 84.47 million tons in 2024, a 12% increase from 2020 [3]. Group 2: Market Share and Production - The province's rice processing capacity is 60.87 million tons, with a processing volume of 19.06 million tons, capturing approximately 17% of the national market share [3]. - Anhui produces about 20% of the country's rice and 10% of the wheat flour, showcasing its strong industrial advantages [3]. Group 3: Industry Concentration - As of 2024, there are 52 grain and oil processing enterprises in Anhui with an output value exceeding 1 billion RMB, an increase of 11 from the end of the "13th Five-Year Plan" [3]. - These enterprises collectively account for 38% of the total industry output value, indicating a significant rise in industry concentration [3]. Group 4: Brand Development - The "Wanmei Grain and Oil" brand has been established, promoting 143 high-quality grain and oil products across the nation, supported by the release of 17 group standards for product upgrades [4].

Core Viewpoint - The company has established a strong reputation and trust among a diverse range of well-known domestic and international brand clients across multiple industries, including consumer electronics, communications, LED, and new energy vehicles, which supports its stable growth and performance [1] Industry and Client Distribution - The company has a broad client base that includes leading enterprises in various sectors: - Communications: ZTE Corporation, TCL Communication - Display and Lighting: TPV Technology, Absen, Leyard - Home Appliances: Gree Electric Appliances, Haier Group, Hisense Group - Photovoltaics: Tongwei Co., Longi Green Energy - Automotive Electronics: BYD, CRRC Times Electric - Consumer Electronics: DJI, Samsung, Xiaomi - Power Supply: Bull Group, Aohai Technology - Security: Hikvision, Mijia Technology - Additionally, the company indirectly serves international brands like HP, Dell, and Amazon through large EMS manufacturers such as Foxconn and Jabil [1] Business Characteristics - The company exhibits a "small products, large market" core business characteristic, which effectively mitigates operational risks associated with single industry cycle fluctuations and allows the company to capture growth opportunities across multiple high-demand sectors, thereby providing solid support for sustained and stable performance [1]