Group 1: Financial Performance - The company reported a net profit of -316.19 million RMB for 2024, a decrease of 23.88% compared to the previous year [6] - The company's cash reserves were approximately 48 million RMB at the end of 2024, significantly lower than previous years due to reduced cash inflows from operating and financing activities [6] Group 2: Business Strategy and Development - The company has sold its 100% stake in Lifeng Chuangda for 190 million RMB, and this asset has already been impaired in the 2024 financials [1] - The company is focusing on enhancing its e-commerce and new energy sectors to improve profitability and risk resistance, transitioning from live-streaming sales to direct sales of self-owned brands [7] - The e-commerce direct sales business achieved revenue of 143 million RMB in 2024, accounting for 88.52% of total revenue [7] Group 3: Industry Outlook - The lithium battery industry is expected to experience significant growth, with lithium carbonate prices stabilizing around 70,000 RMB per ton as of Q1 2025 [3] - The live-streaming e-commerce sector is transitioning towards healthier growth models, supported by government policies aimed at consumer protection and sustainable development [2] Group 4: New Energy Initiatives - The company is developing a three-dimensional driving system for its new energy sector, focusing on resource development, technology research, and capital operation [4] - The company has invested 550 million RMB in a new energy fund, which is actively supporting projects in the new energy industry chain [5] - The annual production project of 300,000 tons of sulfuric acid in the green circular economy is progressing steadily [5]