Core Viewpoint - The company reported a revenue of 4.36 billion yuan for Q1 2025, showing a year-on-year increase of 1.6%, with a net profit attributable to shareholders of 470 million yuan, up 4.6% year-on-year [1] Revenue Analysis - In Q1 2025, the company achieved a sales volume of 884,000 tons, an increase of 1.9% year-on-year, while the revenue per ton was 4,929.6 yuan, a decrease of 0.5% year-on-year [1] - The revenue growth was observed across different product tiers, with high-end, mainstream, and economy segments increasing by 1.2%, 2.0%, and 6.1% respectively [2][3] Regional Performance - Revenue growth in Q1 2025 was recorded in various regions, with the Northwest, Central, and Southern regions showing increases of 1.6%, 1.4%, and 1.8% year-on-year respectively [4] Cost and Profitability - The company experienced a decrease in unit cost by 1.4% year-on-year, leading to an increase in gross margin by 0.5 percentage points to 48.4% [5] - The net profit margin and the net profit margin excluding non-recurring items both increased by 0.3 percentage points to 10.9% and 10.7% respectively [5] Future Outlook - The company plans to continue enhancing its product and channel offerings, focusing on high-end non-immediate consumption channels, with projected revenues of 14.83 billion, 15.01 billion, and 15.29 billion yuan for 2025-2027, reflecting year-on-year growth of 1.3%, 1.2%, and 1.8% respectively [5]