Financial Performance - In 2024, the company achieved a revenue of 4.589 billion yuan, representing a year-on-year growth of 11.18% [4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -444 million yuan, with a year-on-year reduction in losses of 36.26% [4] Revenue Growth Drivers - The revenue growth was primarily driven by an 18.07% increase in the lithium battery materials segment and a 91.79% increase in the agricultural protection segment [2] - Future growth strategies include optimizing product structure, accelerating new business market promotion, enhancing supply chain collaboration, and increasing R&D investment [2] Project Development and Profitability - The company is advancing the construction of three new parks in Inner Mongolia, Fujian, and Zhejiang, with some projects already in production [3] - The asset-liability ratio is being optimized to ensure financial health while meeting the funding needs for expanding production capacity [3] Industry Position and Competitive Advantage - The company has established a vertically integrated supply chain in the lithium battery materials sector, covering the entire process from lithium salt raw materials to electrolytes, which reduces costs and enhances product quality [3] - Future plans include continuous technological improvements and deepening cooperation with upstream and downstream enterprises to strengthen competitive advantages [3] Market Trends and Opportunities - The lithium battery materials market is expected to grow due to increasing demand for clean energy and supportive policies, particularly in electric vehicles and energy storage systems [9] - The pharmaceutical market is also projected to grow due to an aging population and increased health awareness, especially in innovative and high-end generic drugs [9] Strategic Initiatives - The company issued Global Depositary Receipts (GDR) in 2023, enhancing its international market presence and financing channels [7] - Plans to deepen cooperation with global enterprises to increase market share and competitiveness in international markets [7] Risk Management - The company acknowledges the uncertainties in the early stages of technology development in collaboration with Fudan University, emphasizing the need for investors to be aware of potential risks [5] - The management is focused on improving operational quality and transparency to enhance investor confidence and mitigate stock price volatility [9]