Core Viewpoint - The company, Beijing Jiuzhou Yigu Environmental Technology Co., Ltd., reported a revenue of 359 million yuan for 2024, reflecting a year-on-year growth of 30.7% [1] Group 1: Business Performance - The revenue from the steel spring floating track bed vibration reduction system was 185 million yuan, with a gross margin of 29.31%, down by 12.76 percentage points year-on-year [1] - Revenue from prefabricated steel spring floating plates was 75 million yuan, with a gross margin of 15.44%, a decrease of 18.95 percentage points year-on-year [1] - Revenue from sound barriers was 69 million yuan, with a gross margin of 21.18%, showing an increase compared to the previous year [1] Group 2: Customer Contracts and Order Status - The company provided details on the top five revenue-generating customers and their contract orders, including completion status and payment progress [1] - The total contract amounts and completion percentages for various projects were detailed, indicating a high completion rate for several contracts [1][2] Group 3: Margin Fluctuations and Industry Trends - The company explained the fluctuations in gross margins for its products due to changes in industry competition, downstream demand, and cost variations [7] - The average sales price of the steel spring floating track bed vibration reduction system decreased from 4,185.04 yuan in 2022 to 2,561.25 yuan in 2024, impacting the gross margin [10] - The average sales price of prefabricated steel spring floating plates also declined from 7,508.98 yuan in 2022 to 5,508.78 yuan in 2024, affecting profitability [10] Group 4: Cost Management - The company implemented cost reduction measures, resulting in a slight decrease in average cost per unit for the steel spring floating track bed vibration reduction system [10] - The procurement prices for springs decreased in 2024 compared to 2023, attributed to lower steel market prices and successful negotiations with suppliers [12][13]