Legal Matters - The company is involved in a legal case regarding technology infringement, with a first-instance judgment ordering compensation of RMB 202.42 million (20,241.97 million) from the defendants [1][5]. - The case is currently under appeal at the Supreme People's Court, with the company and defendants having filed appeals [5]. Financial Performance - The company's revenue from the photovoltaic sector has decreased due to a supply-demand mismatch and intensified competition, with a year-on-year decline reported for 2024 [3]. - The aerospace sector is expected to benefit from national policies, with the company anticipating growth in this area [6]. Project Developments - The high-purity synthetic quartz sand project has entered the pilot test phase, enhancing the company's supply chain security [2][7]. - The company has achieved stable production capabilities for various synthetic quartz products, including low-expansion and chlorine-free quartz materials [7][8]. Shareholder Engagement - The company has repurchased 1,688,050 shares for a total of RMB 50.09 million (5,008.87 million) and has seen additional purchases from major stakeholders amounting to RMB 30.07 million (3,006.74 million) [9][10]. - The company aims to enhance core competitiveness and sustainable growth as part of its 2025 operational goals [10]. Market Position - The company is recognized as a leading manufacturer of synthetic quartz glass in China, with significant applications in high-end optical fields and aerospace [8]. - It has established itself as a dominant supplier in the aerospace sector, with a focus on maintaining technological leadership and improving production efficiency [6][8].