Financial Performance - In 2024, the company achieved a sales revenue of 259,283.11 million CNY and a net profit attributable to shareholders of 4,687.22 million CNY [2] - For Q1 2025, the company reported a sales revenue of 39,625.02 million CNY and a net profit of 558.49 million CNY [2] Risk Management - The company has significant guarantees that are primarily for subsidiaries within the consolidated financial statements, which do not pose a risk [1] - For upcoming guarantees, the company has made financial arrangements to ensure timely repayment, mitigating any major impact on financial status [2] Industry Outlook - The ongoing promotion of 5G applications and stable growth in national defense budgets are expected to drive the development of the domestic wire and cable industry [2] - The wire and cable industry is crucial for national economic development, with applications in power, communication, military, civil aviation, and renewable energy sectors [3] Competitive Advantages - The company focuses on special cables and has participated in drafting various industry standards, establishing a complete independent intellectual property system [3] - Recognized as one of the top ten competitive enterprises in China's optical fiber and cable industry, the company is a key supplier for major state-owned enterprises and research institutions [3] Accounts Receivable Management - The company has seen an increase in credit impairment losses on accounts receivable by 576.26 million CNY and is implementing measures to strengthen collection management [3]