Group 1: Financial Performance - The company's net profit for 2024 decreased by 36.76%, with a gross margin dropping to 24.22% from 35.82% in 2023, primarily due to market demand fluctuations, intensified competition, and cost changes [1] - The company aims to optimize its business structure, expand its customer base, and increase revenue scale to maintain relative stability in gross margin [1] Group 2: Accounts Receivable and Bad Debt - The accounts receivable cycle for the first half of 2025 is normal, and the company has made provisions for bad debts based on expected loss rates [1] Group 3: Market Expansion - The company is focusing on developing new customers in regions with steady growth in power grid investment, particularly in South China and Southwest China, excluding Inner Mongolia, Shanghai, Jiangsu, and Hubei [2] Group 4: Patent Development - As of the end of 2024, the company had obtained 53 authorized patents (22 invention patents and 31 utility model patents), an increase of 18% from the beginning of the period [2] - By mid-2025, the number of authorized patents rose to 58 (27 invention patents and 31 utility model patents), reflecting a 9% increase from the start of the year [2] - The company plans to enhance R&D investment in cutting-edge technologies related to power grids, renewable energy, digital twins, and integrated energy management to improve its technological innovation and service capabilities [2]