Group 1: Company Performance and Market Challenges - The company has experienced a significant decline in performance, with a reported drop of approximately 30% in employee stock value over three years [4] - External macroeconomic conditions and changes in centralized procurement policies in the pharmaceutical industry have led to price reductions and inventory destocking, causing a phase of market volatility and impacting the company's main business [5] - The company's foreign business accounted for 9.56% of total revenue in 2024, with minimal impact from U.S. exports [5] Group 2: Product Development and Innovation - The company is focusing on high-value projects driven by market demand, with ongoing research in low-fat cream collagen, specialized collagen for cashmere textiles, and ultra-low endotoxin gelatin [3] - The low-fat cream collagen product has begun marketization, targeting health-conscious consumers with its favorable emulsification and foaming properties [3] - The company is actively working on the industrialization of key research projects to enhance its technological reserves and maintain a competitive edge in the collagen segment [3] Group 3: Strategic Initiatives and Shareholder Engagement - The company has initiated a share buyback program, repurchasing 10,573,400 shares, which represents 1.7812% of the total share capital, to enhance investor confidence [4] - Management is committed to improving operational efficiency through strategies such as cost reduction, technological empowerment, and quality enhancement to achieve breakthroughs in performance [4] - The company aims to strengthen strategic planning and refine management practices to adapt to new market challenges and opportunities [4]