Summary of the Conference Call for Xindazheng Industry Overview - Xindazheng has completed a nationwide layout, becoming the first private enterprise in the non-residential property service sector to achieve this goal, expanding its business focus from Chongqing to cover first and second-tier cities across China [2][3][5] Key Points and Arguments - Despite intensified industry competition and rising labor costs leading to a slowdown in profit growth, Xindazheng expects gross and net profits to remain relatively stable from 2025 onwards, with limited growth due to prior strategic planning and layout [2][5] - The company has significant advantages in the aviation sector, particularly in ramp services, having entered this field through the acquisition of Chongqing Hangcheng, making it one of the largest suppliers of airport services in China [2][6] - Xindazheng has successfully entered the cabin cleaning and special vehicle maintenance market at Jiangbei Airport by overcoming high entry barriers through acquisition, enhancing its market position in the aviation sector [2][7] - The company is actively exploring the application of unmanned technology in property management, particularly in external environment cleaning, having deployed nearly 100 automated devices that can replace 3-4 workers each, significantly improving efficiency and reducing costs [2][8][9] Additional Important Content - The automation equipment currently deployed is primarily used for external cleaning, accounting for 15-20% of total cleaning volume, with a depreciation period of three years, although the actual lifespan can reach around five years [4][9] - Xindazheng plans to implement a new equity incentive plan in 2025, following a share buyback in 2024 aimed at employee motivation, with specific details to be discussed with management and the board [4][10] - The company has made significant progress with its city partner strategy, achieving phase one goals in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen, and plans to strengthen vertical capabilities to support the next phase of development [5][6]