Financial Performance - The company's revenue for 2024 remained stable year-on-year, while net profit increased by over 23% due to product structure optimization and a decrease in raw material prices [2] - The net profit attributable to the parent company for 2024 grew by 23.46%, with a 24.95% increase in net profit after excluding non-recurring gains and losses [5] - In Q1 2025, net profit attributable to the parent company surged by 48.84%, driven by improved sales of green materials [6] Product Development and Market Trends - The company is focusing on the development of low-carbon and environmentally friendly materials, with plans to enhance R&D in PETG, PC, bio-based materials, and recycled materials over the next three years [3][4] - R&D investment accounted for 4.89% of revenue in 2024, reflecting a 7.64% increase year-on-year, aimed at developing new technologies and products [5] - The introduction of four advanced production lines in 2025 will primarily focus on green low-carbon materials, expected to be operational by mid-2026 [6] Financial Health and Risk Management - As of Q1 2025, the company's debt-to-asset ratio was 26.56%, indicating a stable financial condition with good cash flow and profitability [3] - The net cash flow from operating activities decreased by 44.08% in 2024, attributed to a decline in raw material prices and inventory management [7] Dividend Policy - The company plans to hold a shareholder meeting on May 15, 2025, to approve the 2024 profit distribution plan, with cash dividends expected to be implemented within two months [3] - A mid-term dividend is also planned for 2025 to enhance shareholder returns [6] Industry Outlook - The demand for low-carbon and recyclable materials is increasing, supported by government initiatives in the EU and organizations like Mastercard, which are promoting the use of sustainable materials [4] - The company is positioned as a leader in the functional film industry, being the only publicly listed company in the smart card substrate sector [4]