Strategic Planning - The company has developed a "cloud, pipe, terminal" strategy based on its technological characteristics and management advantages, focusing on high-speed multi-layer precision PCB products for cloud computing, communication equipment-related PCBs, and smart terminal devices [1][2]. Impact of Tariffs - As of 2024, overseas business revenue accounts for approximately 71.84%, with the Americas at 3.32%, Europe at 1.30%, and Asia at 67.22%. Direct exports to the U.S. represent only 0.12% [2]. - The company’s core business is server PCBs, with downstream customers primarily in Northeast Asia, Southeast Asia, and Mexico. Tariffs have minimal direct impact due to server products being on the tariff exemption list [2]. - Long-term effects of ongoing trade tensions may restructure the industry supply chain [2]. Investor Returns - For the 2023 profit distribution, the company plans to distribute RMB 2.50 per 10 shares, totaling RMB 105,575,000, which is 25.46% of the net profit attributable to shareholders [3]. - For 2024, the proposed distribution is RMB 4.80 per 10 shares, totaling RMB 204,112,800, which is 30.19% of the net profit attributable to shareholders [3]. - The company emphasizes solid governance and operational management to ensure quality returns to investors [3][4]. Communication and Governance - The company has disclosed 172 documents and answered over 210 investor inquiries in 2024, achieving a 100% response rate [4]. - It maintains transparency in information disclosure and fosters good communication with investors to enhance understanding and trust [4]. Technological Innovation - The company reported a 39.43% increase in revenue and a 63.04% increase in net profit in 2024, attributed to a focus on R&D and technological innovation [5][7]. - Listing on the Shenzhen Stock Exchange has strengthened the company’s financial position, enabling increased R&D investment and attracting top talent [5]. Future Plans and H-Share Listing - The company plans to pursue an H-share listing in Hong Kong, primarily to establish an offshore financing platform and enhance brand influence overseas, rather than for immediate financing needs [6]. - With over RMB 700 million in cash and healthy operating cash flow, the H-share listing aims to support international business expansion and improve capital structure [6]. Industry Performance - The overall industry performance varies significantly based on downstream application areas, with specific company performance details available through regular reports and industry associations [6].