Core Viewpoint - The company, Hongqi Lianchuan, is optimistic about achieving its performance commitments for 2024 despite a slight decline in revenue and profit, emphasizing the importance of innovation and team integration following a change in control to a state-owned entity [1][2][5]. Financial Performance - In 2024, Hongqi Lianchuan reported a revenue of 10.123 billion yuan, a slight decrease of 0.09% year-on-year, with a net profit attributable to shareholders of 521 million yuan [2]. - The company's main business revenue reached 9.371 billion yuan, showing a year-on-year growth of 0.23%, continuing a trend of steady improvement since a significant increase in 2020 [2]. - The net cash flow from operations at the end of 2024 was 1.195 billion yuan, reflecting a minor decline of 3.83% [2]. Online Business Development - The company achieved over 1 billion yuan in sales through its Douyin (TikTok) platform in 2024, indicating a strong performance in online business [1][5]. Management and Team Integration - The integration of the new management team with the existing one is reported to be progressing well, with a shared commitment to enhancing the company's operations [6]. - The company culture is recognized and accepted by new team members, facilitating a smoother transition and integration process [6]. Market Environment and Competition - The retail industry, particularly the convenience store sector, is facing intense competition, with a notable trend of store closures [8]. - The company acknowledges the challenges posed by competitors but views them as opportunities for improvement and motivation to enhance its offerings [8].